Real estate investing is one of the most pleasing ways of making good money
(that is if you do it properly). Moreover, real estate investing is also a lot
of fun. A lot of people practice real estate investing as their core profession
and, in fact, make a lot of money that way.
Real estate investing is really a knack and, like anything, it takes time to
master real estate investing. The key, of course, is to buy at a lower price and
sell at higher price and make a profit even after paying all the costs involved
in the two (buy/sell) transactions. Generally, people are of the opinion that
real estate investing makes sense only when the rates are on the rise. However,
real estate investing for profits is possible just about any time (and as I just
said, real estate investing is an art). Here is a list of tricks that can make
real estate investing profitable for you:
1) Seek out public auctions, divorce settlements and foreclosures (bank/FHA/VA):
Seeing as quick settlement is the preference here (and not price), you might get
a property at a price that is much lower than the prevailing market rate. You
can then make arrangements to sell it at the market rate over a short period of
time. However, make sure that the property is worth the price you are paying.
2) Looking for old listings: The old listings that are stagnant and unsold may
make available to you good real estate investing opportunities. Just get hold of
an old newspaper and call up the sellers. They might have given up hope of
selling that property at all and with a bit of negotiation you can get the
property for a real low price.
3) The hidden treasure: An aged (and dirty) looking house may drive away buyers.
But this might be your chance for real estate investing that can yield good
profits. So, explore such properties and check if spending a bit on them can
make them shine. You can get these at very low prices and make a big profit in a
short time.
4) Team up with attorneys: There are a number of attorneys who deal with
property sales on behalf of sellers or in special circumstances (like the death
of the property owner). They might sometimes be looking to dispose off the
property rather quickly and hence at a low price. Be the first one to grab such
real estate investing opportunities and enjoy the profits.
5) Keep looking at the newspaper announcements: Property sell offs due to
deaths, divorce settlements, immediate cash requirements and other reason are
often announced in local papers. Keep track of such real estate investing
avenues.
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