Friday, May 30, 2008
If you have the mind for Real Estate Investing, then look out for vacant homes that are fire damaged, abandoned, run down or with city notices evident. Talk to neighbors about these homes, they should usually know who actually owns it and what is going around. They would be generally interest in seeing the house restored!
Try walking up to the house and look at the window or knock at the door to confirm that the house is indeed vacant, but see that you don't trespass the area, always double confirm with the neighborhood. Do contact the out-of-state owners through property records or by sending a letter or making a phone call. You can leave your business card on the door when you leave.
Try walking up to the house and look at the window or knock at the door to confirm that the house is indeed vacant, but see that you don't trespass the area, always double confirm with the neighborhood. Do contact the out-of-state owners through property records or by sending a letter or making a phone call. You can leave your business card on the door when you leave.
posted by Webprofits
@ 4:49 AM
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Sunday, May 4, 2008
When it comes to real estate investment, you need to know about this important strategy called 'Buy and Hold', here the goal is to obtain a home with an aim of renting it. For this technique to be successful you must obtain under some set price and terms which allow for a positive, healthy cash flow. The rent amount must be higher than the mortgage payments.
In 'Buy Low-Sell High' strategy, a home is purchased located in a neighborhood that has high sales activity. Make the required structural and cosmetic repairs and then sell the home for a higher amount than what you paid. Keep in mind that the purchase price must be low enough to allow room to cover up your repair costs that you spent, and also on resale costs and holding costs, which will leave room for healthier profits.
In 'Buy Low-Sell High' strategy, a home is purchased located in a neighborhood that has high sales activity. Make the required structural and cosmetic repairs and then sell the home for a higher amount than what you paid. Keep in mind that the purchase price must be low enough to allow room to cover up your repair costs that you spent, and also on resale costs and holding costs, which will leave room for healthier profits.
posted by Webprofits
@ 9:35 PM
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