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Earn Income Through Property Investing
You think you are attracted in real estate investing? You need several property investing pointers to get you started in the proper direction. Even in this latest economy you can understand how to invest intelligently and make yourself some more money in the process.
Property investing is all about choosing the right property that will work the best for you. Things that compose the right property can differ from investor to investor and depend on your specific needs.
You can buy properties by researching bankruptcies and foreclosures at the county clerk's office or inquire about short sales from your bank. Trying to short sale the bank though could be a real pain. The bank will drown you in paperwork and even if you do everything right they may still take a long time in approving your request. Short sales are not a easy way to get into the investment game.
When reviewing ads in the paper, find properties to buy with ads that say, "Motivated seller" or other phrases that mean the same thing. You can perhaps work out a really good deal on these properties.
When you discover a property do your due diligence and study it thoroughly. Get an appraisal and get it inspected. You do not want to buy a money pit. You want to buy a place that you can put a marginal amount of money into and fix it up quickly for a good return on your investment.
The earlier you can get your newly acquired property fixed up and on the market, the sooner you can get a lessee into the property and begin getting a regular monthly cash flow. Getting a regular monthly cash flow is the bottom line for any investor.
Other property investment tips include calling your local real estate agent to support you in finding comps of other properties in the area where you want to buy. Comps are basically the typical price of what other properties in the area are selling for or are worth. A real estate agent can also inform you if they think the property is a great investment and recommend a good inspector and appraiser you can trust.
You obviously have to have money before you can be a real estate investor but, if you do not have the money to buy properties there are means to get the money that you need to be aware of.
One way is to borrow the money from a lending establishment. Be aware though, in this current downward economy, lending institutions required almost better than perfect credit before they will approve a loan request.
One more way to get the money to invest in real estate is to find a second investor, basically a partner. They put up the money and you do the work and then you split the profits.
Another option is to find what's called a hard money lender. They have no interest in the property and require the money to be repaid in a certain amount of time with interest. A hard money lender may be hard to find but really worth their weight in gold when you do discover one you can work with.
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Date: Thu, 10 Oct 2013 -
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