September 25, 2010
Real Estate Investing | Three Skills Necessary To Be Successful In Real Estate Investing
Success in real estate investing is all about knowing what to buy and how you approach the deal. Real estate investment therefore requires some specific skill sets that can be developed and honed. This article highlights three skills that you might want to develop to be more successful in your real estate investing business.
Firstly, interpersonal skills are important in real estate negotiations. What breaks or makes a deal usually is whether you have good interpersonal skills and are able to make the other party trust you. Spend time establishing rapport when you meet prospective sellers and then try to apply the win win formula so that they feel the value in doing a transaction with you and maybe recommend their friends to sell property to you in the future.
An example of this was when John talked to the seller of a large factory, the boss told him that what they needed now was cash flow and they did not want to move out of the property. So John did a sell and lease back transaction with the boss and today he has a good tenant and owns a factory building which he bought at a reduced rate.
Secondly, to be successful in real estate investment, you need to be able to do simple maths analysis of the monthly cashflow and analyze the longer term appreciation prospects of the real estate investment property that you are interested in. Spending time to analyze your buying price relative to similar units in the area is important and buying
it at an under value is always good.
Alternatively, when buying properties that you want to improve, always spend time doing the sums on how much the repairs and renovation will cost and if you are new to the fix and flip real estate sphere, bring your contractor and architect along to ascertain whether the deal is feasible.
Thirdly, real estate bargain hunting requires persistency as you might have to look at hundreds of properties before you find a property that you think can yield good rental returns and is suitable for you to buy. Remember that similarly, not all foreclosure and auction sites represent bargains. Make an appointment to go down to the property and physically examine it to satisfy yourself that it meets your requirements. Staying persistent in your search for the right real estate investment is thus key to making a good real estate acquisition.
In conclusion, take some time to examine whether you have the three skills sets mentioned above and then take massive action to start looking for your next real estate bargain. Believe in yourself today and focus on achieving your real estate investment goals. Carpe Diem!
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9 Comments on Real Estate Investing | Three Skills Necessary To Be Successful In Real Estate Investing »
May 9, 2011
Misstrial @ 6:22 pm:
From ZeroHedge:
May 20, 2011
Jonness @ 5:10 am:
By Julie Lyda, RE/MAX Northwest Realtors 28: Not sure what your sources are, but the latest news I’m reading is:National Foreclosure Rates Drop 27% in First Quarter 2011. don’t put out posts without data to back up what I’m saying.
June 2, 2011
Al Kyder @ 12:36 pm:
stacyherbert
June 4, 2011
❶•☆•xXx•☆— BOMB ♥ SHELL☆•xXx•☆•❶ @ 1:02 pm:
They are a lobby group. They can be retained by anyone who walks in the door, and in the past, strange people walked in their doors and hired them. I do not doubt a moment that the SPLC was hired by the Mexican Government to slander and victimize those who were NOT receiving money from the Mexican Government.
BUT.. the VDare article is delicious to read.
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Has anyone else noticed the bad guys are still around. The diddle with my posts rather frequently, and don't allow some posts to go up until a couple of hours have passed by. It is a mark of their countries processes.
June 28, 2011
Real Online Gambling Info » Blog Archive » Indian real estate sector in recession mode « Indian Realty Blog @ 8:45 am:
[...] unknown wrote an interesting post today onIndian real estate sector in recession mode « Indian Realty BlogHere’s a quick excerptAll of these sudden changes in Indian and US market created a point of thinking to investors and individuals that where it will go and what will be the best option in real estate investment. The market rates in India are also dropped by … [...]
August 4, 2011
Gee Wye @ 10:02 pm:
Don't borrow to invest…you will find the interest paid will offset your gain on the investment, and worse still, if the investment loses money, you will still have the loan.
I will give you some good advice…pay attention.
You are young and that makes a big difference..Save up your money until you have $1,000, and take it to the bank and buy a no-load balanced mutual fund, Figure an amount per month that you can afford to invest and tell the bank to take this amount once a month to buy more shares of this fund,
Then start reading about investments, markets, market psychology, how changing interest rates affect markets, how current events affect markets, and anything you can learn about investing will help you understand.
This amount you invest every month won't be noticed by you (not having it to spend) after a few months…..Increase this amount when you can..if you get a raise, put the take home increase into your fund. As you learn about investing and understand your risk tolerance, branch out ito more diversification, Like a good equity fund, maybe a resource fund, but start with a balanced fund.
Over the years you will get rich following this advice, but don't start spending your fund on cars or trips…otherwise you will have to start all over again.
August 7, 2011
john gault @ 8:40 pm:
To David J.:
IF a note were transferred to FNMA, then a new assignment from whomever assigned it is not
possible under those circumstances. Once assigned (or endorsed), the note may be the property of FNMA and FNMA must be the party to endorse it to FNMA2. As far as I can tell 1) FNMA must assign / endorse to FNMA2 2) FNMA must assign back to Chase and THEN Chase may assign it to FNMA2. REI may stand for real estate investment.
It is sometimes part of REIT, real estate investment trust. You may be interested in Nozek and In re Lee.
Google will prob bring them each up. I can email them to you if you like. I am NOT an attorney and it is only my lay opinion expressed here. I found the cases cited here interesting reading.
October 1, 2011
william c @ 10:19 pm:
i don't think it was all revealed but, essentially, it boiled down to monies invested as payment for "legal services" to the wife of then gov. of arkansas at the time — bill clinton. it popped up in his first term as us president.. a lot of strange things surround the it including dead bodies and an airplane crash that looked very suspicious. hell'uva mystery, actually.
by the way, i hope 10 pages is not too much for a serious student? gee whiz dude!
October 16, 2011
PAUL B @ 6:37 am:
I would suggest that you ask professionals on this new forum:
http://www.homefinderforum.com