The term real estate investing in all probability makes you think of a number of things like hard money, real estate portfolios and real estate retirement plans, and then you may expand to thinking of short sales, bulk reo investing or virtual real estate investing. You may also consider what roles these things play in your life as a real estate investor in different economies.
You can learn a lot about real estate investing. You will get the most out of anything to do with short sales, bulk reo sales, virtual real estate and just improving real estate investor abilities by knowing some real estate investing basics. Check out these three real estate investing tenets that many experts do not fully know:
1. You will always end up with a positive yield when you take on real estate investing education. You can create thousands of dollars in potential wealth with each real estate deal. Knowing about getting that wealth is the key in the end to your success. Learning as much as possible about real estate will increase your odds of success whenever you do a real estate deal. A small investment in your education can yield big results when you use that learning. There are many online courses, your local MLS can point you to training and NAR the National Association of Realtors can also advise you about real estate education.
2. You can succeed in real estate investing regardless of the state of the economy. Many people think (wrongly) that you can only succeed in real estate when the economy booms. In reality, poor economies are great for real estate investors. You will likely find properties that you can buy at deep discounts. Additionally, you may find deals that would not exist in a booming economy. In fact, real estate investing can turn the tide for a poor economy. When the economy is not thriving, short sales, bulk reo sales and virtual real estate can all thrive. You can save yourself and others from major financial woes if you know how to do these deals.
3. You do not need to have a great deal of money if you want to be a successful real estate investor. You can succeed in the real estate investing arena no matter how much money you are working with. There are lots of transactions that you can perform with other people’s money. Private lenders will lend you their money if they think you are a good investment. A good investor will know as much as they can about real estate in the current market. This will help you represent yourself as a solid prospect to private lenders who do not know how to make money in real estate.
Real estate can generate a great return on your investment, knowing when to buy, when to hold and when to sell are critical to your profits. You can create income regardless of the economy. Using your knowledge of real estate investing, short sales, bulk reo sales and virtual real estate you will be able to create wealth for yourself.
Industry experts said that failed short sale deals are contributing to the increasing number of foreclosed homes in the country. Distressed homeowners who want to sell their properties at less than the amount of their mortgages watched …
RISMEDIA, August 6, 2009-Given the current foreclosure situation throughout our country, now, more than ever, is an opportunity for real estate professionals.
The transactional loan gives the investor flipping short sale properties access to money in order to close the home purchase transaction (the first transaction) when the original homeowner is ready to sell and the resale transaction …
The sales of homes for less than the amount owed the bank, known as “short sales,” have been widely viewed as an alternative that could help slow the foreclosure epidemic. In theory, delinquent homeowners escape a mortgage they cannot repay.
So far this year there have been 8 single family home SHORT SALES sold this year in Coconut Grove. The average length of time between the day these homes came on the market and the day they closed was 9 months.
All about real estate agents
Real estate agents are professionals who help buyers find property and sellers sell property. In Montana some real estate agents also do rentals where they help tenants find rentals. In some cases real estate agents are also licensed property managers who maintain the property on the behalf of the landlords. The real estate agents are paid a commission for their services, but do not receive a salary from the brokerage they work with. Real estate agents generally calculate their fee as a percentage of the selling price. People, who want to list their property for sale, leave the details of their property with the real estate agent to market and sell the property, to arrange showings of the property and present all offers to the sellers. The buyers can find the property listed on line and contact their own agent (called a buyers agent) or can call the listing agent for details and access to the property. Providing information about the property to buyers and buyers agents is part of the marketing plan.
Home buyers use real estate agents when it is a sellers market so that they have a better chance of buying a home at a price they can afford. But buyers also use agents in a buyers market where the competition is stiff and making the right offer the first time wins the bid. Agents with experience can guide buyers through the process to help them achieve their goal.
Many agents have mastered the art of negotiation and this can benefit both buyers and sellers when it comes to getting what they want out of the transaction. A seller can often get the best price for his/her property by using the advice received from an experienced real estate agent. An agent will also analyze the needs of a home buyer and show them homes available within their budget. Real estate agents will discuss their needs and make a suggestions.
A licensed Realtor is required to taking ongoing education classes every year to represent you with the sale of your home. They are required to know the local and state laws concerning the transaction whether they are representing you as the seller or the buyer or both (dual agent).
Agents work with lenders, banks, title companies, home inspectors and a host of support business and all of this networking and relationship building works for you to ensure that your sale, your purchase is handled legally and timely.
These are just many of the reasons for staying away from the pitfalls that “FSBOs” [For Sale By Owner] have found themselves in after a sale which has ended up costing them money they did not expect to pay.