hether you are BRAND NEW States, in 1975, the median home
to real estate investing price was $33,300? In 2005, the
or an expert in the game, median home price was $195,000.
it's critical that you understand Historically, the average home
these 7 Simple Steps to real doubled every 7 years. If you do
estate investing. the math, it should be well over
$200,000.
First things first...
OK... Now, having said that...
• Real Estate is NOT a get rich The real estate market WILL
quick scheme. However, if you change and what is "working"
learn the foundations and put today in real estate may not in
them into practice, you will make the future... The rental market
more than enough money to realize was strong a decade ago, but has
any and all of your dreams and been soft in recent years. We are
goals. getting ready for a turn once
again.
• The real estate bubble is not
going to burst! The real estate Real Estate IS a cycle... and
market will, however, shift and cycles have some degree of
the real estate market will predictability. With
change - just as it always has! predictability, you can grow your
What's "hot" now may turn ice real estate business into a
cold in the next 3 years (or cash-producing, profit-pulling
perhaps even 3 months). But, machine that runs itself WITH the
there are ways to "bubble proof" changing real estate market
your real estate investments. trends. It is still possible to
It's actually quite simple. make money in real estate. In
fact, now is just as good a time
Did you know that in the United as any to get started in real
estate investing. note?
But, you've got to make wise What this means is simply that
investments. Sure, you may make you must be experienced in the
some SERIOUS cash in basics - the tried and true
pre-construction, but what techniques, strategies and
happens if (no, not if - when) systems that have worked in the
the market shifts and there are past, are STILL working and will
suddenly 35 identical properties work in the future. You've got to
on the market for sale in the have all the tools in your bag so
same building? How long can you that you can go with the flow and
afford to carry a negative cash not be affected when real estate
flow on the property? markets begin to shift (which
they are already in the process
Or how about taking over property of doing, in case you've missed
‘subject to'? Sure, it's a that memo! ;-)
great strategy and lenders may be
inclined to turn the other way Step #1 - Set your plan: Figure
and not exercise the "due on out what your long term real
sale" clause as long as the estate goals are (aka retirement
interest rates are at rock bottom and wealth building) and figure
prices (You know, those sellers out what your short term needs
that you're usually taking are with regard to making money
property subject to from usually in real estate. Then, set up the
don't have the lowest interest proper entities and put the plan
rates, right?) If the interest in place.
rates spike to 10-11%, don't you
think lenders might be MUCH MORE Step #2 - Determine what your
inclined to exercise their option target market will be: You cannot
to make you pay off the 6.5% be all things to all real estate
markets. If foreclosures appeal Step 5 - Become a master of
to you, start investing in the finance!: Real estate is the
foreclosure market. If you want business of marketing and
to be a landlord, look to out of finance. You must learn about
state owners to focus your real mortgages and interest rates and
estate marketing efforts. loan programs that are out there.
You must know how to use finance
Step #3 - Be consistent and to negotiate your deals and to
persistent: Real Estate is not a sell your properties.
get rich quick scheme. Real
Estate is get wealthy over time Step #6 - Become a skilled
and put some quick cash in your problem solver: The reason you
pocket today. You've got to will get real estate deals that
follow your plan and stick with others don't, is because you are
it to see real results in real able to solve people's problems.
estate. You've also got to Anything goes on the real estate
continue to increase your playing field. You've got to be
education and your experience. ready!
Step 4 - Don't fall into the Step #7 - You must continue your
"Analysis Paralysis": Learn to education: It is important that
analyze properties quickly. Don't you are always investing in your
get caught up overthinking. It's education and learning new
quite simple actually: What's the tactics, strategies and tips that
property worth? What does the will help you make more in real
property need for repairs? And estate.
how much can you get the property
for? It all comes down to If you enjoyed this article, make
numbers! sure to look up the other
articles discussing The 7 Simple
Steps To Making Money on Real in further detail!
Estate. The next article
discusses Step #1 - set your plan
About the Author:
The Next Level Institute is dedicated to helping real estate investors - whether a brand new or a seasoned investor - become more successful with less effort. Get your free 4-part mini-course on finding deals AND learn the 7 keys to sucking in the deals faster than a "Hoover" vacuum! Get your free e-book at: http://www.7steprealestate.com.
Source: www.isnare.com
