April 5, 2010
Real Estate Investing | Ideas To Own A Profitable Property
Investing in property is a kind of game, in which either you can be a winner or a looser. To get a fair deal of your invested money, you have to be a little tricky. By investing in a real estate you will earn beyond your imaginations, and you are also free of nightmares which you have after investing in stock market.
One of the best earning investment is to invest in property residential. Either you can purchase a residential building for a short span of time, or for whole life. It is one of the most increasing income source. So, if you are thinking about investment, then property investment can be a best choice.
After making the mind on property investment, the first question which arises in the mind is, how to find a good investment property. So, here we are with some ideas, which can surely help you to find a suitable and profitable property.
The first thing you need to know is, lying inside your mind, and that is for how long you want to own a particular property. The decision is obviously yours, but we can tell you both pros and cons of any period you choose. For example, if you are thinking to own a particular property for 20 years, then you will obviously get a fair deal, as the rents and price of property will go high. But you also have to spend a large some of money for its maintenance and repair. And, if you are thinking to keep it just for five or six years, then you need not to spend that much money for its maintenance and likewise you will not get that handsome a price for it.
The second step which you need to take on this path is to develop a network. Many landlords keep in touch with city hall clerk and bank employees. They are the one who know which property is available to sell and purchase and which property can benefit you the most. Some people get associated with local property dealers to get in contact with different people. The newspapers also can be proved a good support, as many people give adds in them.
Before buying a particular property, you should also make queries about its location and its development. As, a property in a developing area can bring an unexpected luck. A good maintenance of the property can shape its good future. So, go and try your own luck in this game.
For any help on investing in properties, check out the info available online; these will help you learn to find the Property investing!
Trackback uri
http://www.jolinszsells.com/1399/real-estate-investing-ideas-to-own-a-profitable-property/trackback/
Leave a Comment
You must be logged in to post a comment.
6 Comments on Real Estate Investing | Ideas To Own A Profitable Property »
April 1, 2011
satarnag @ 3:08 am:
When a property gets foreclosed on, and it's the first lien holder that is doing the foreclosing, then the second and third and fourth (etc.) will get wiped out at the foreclosure auction. What an investor will do is to buy/tie up the property from the defaulting owner and see if he can discount the first and second. The second will most likely agree to a small amount (usually 7-10 percent) because they will lose everything once the property gets foreclosed on. The first will usually accept a 20 percent hit.
Now what you quoted is that the second note holder was stating that he will own the property by buying it from the person in default and take over the first position's loan payments and make it current. Therefore, he is not interested in selling his note to the investors. The investors in that example were idiots for not controling the property first or the owner didn't want to sell. The investors were hoping to buy the second note at a discount and bid at the auction and own the property with at least 15 k equity plus whatever the homeowner had in equity.
You can buy any note by approaching the lending institution that holds the note and making an offer to buy it. You will need cash to do so.
Also, to clear up the quoted reference, you can purchase property "subject to" existing liens/loans. Taking property "subject to" means that you will take over the payments, but the old owner is still responsible for the loan(s). So if you stop paying the mortgage/trust deed, the lending institution will go after the old owner and start foreclosing on the property. Buying property "subject to" existing loans is one way where someone with no money and/or credit can get into a home and own it. The second note holder was buying the property from the defaulting owner using the "subject to" clause.
I either confused you or helped you. Either way, I just saved you hundreds of dollars in late night real estate infomercials!
E-mail me if you have any questions.
Regards
April 22, 2011
Julie @ 11:53 pm:
Cindy – you are right! Everyone seems so terrified to buy property yet real estate investing makes WAY more sense today than it did two years ago when everyone was excited about it. The media is not blameless in this fear and feeling amongst would be investors though. Sure – they are making excuses about why they aren't buying property, but the constant negative news and recession/job loss talks paralyze even the smartest investors. Thanks for your comments!
April 25, 2011
siryoz0 @ 5:36 am:
The beauty of investing for a real estate is that you can rehab it to increase its value and sell it with a higher margin or just fix it rent it out.Real estate investing Baltimore MD
July 2, 2011
Patiently Waiting @ 6:57 pm:
Things keep getting worse in the USA. Perhaps you should judge the sanity of an investment by how physically close your realwhore gets.
August 15, 2011
Simpson G @ 5:47 am:
Las Vegas real estate isn't going to be increasing in value anytime in the next 5-10 years. If you have the cash burning a hole in your pocket and you know that finding good tenants to rent to is going to be easy, and you don't need to see an increase in property values for a long time, then Las Vegas is great.
Real Estate can be a great investment, if you do it right. If you are going to be mortgaged up to your eyeballs without a property manager and don't know how to run the numbers correctly, it can be a complete nightmare.
Too many people forget to add in things like closing costs, mortgage interest, upkeep, utlities, HOA fees, property taxes, etc, and when they see a $10,000 return without counting all that, they get hooked. Then suddenly they don't understand why they aren't making their mortgage payments and dread that next property tax bill.
October 27, 2011
Gee Wye @ 10:29 am:
I love the series of books. First of all, you don't need to be wealthy/have money to invest. However, you need to invest to be wealthy. I used bank loans to start my investment portfolios, thanks to Kiyosaki's tips. B4, I had the mindframe of saving money in order to invest.
Nowadays, I realize you can use the banks money to invest. Bank managers are often willing to give people money for a good investment. Money always follows a good investment, though you have to learn about them, invest to gain experience. Also, it's important to have mentors who've achieved whatever you want to achieve. They're a good source of guidance.
I like the Rich Dad, Poor Dad series of books because the tips have been helpful to me and are helping me achieve my goals.