While making property investment a focus of long-term investment may seem to be dangerous, right now may be the best time to do it. Easy to manage, concrete and workable real estate investing secrets will put an investor on the road to financial freedom.
Investment in property has reached an all-time low. In the old days, people always said, "buy low, sell high", a very obvious bit of advice. But the low price being discussed always comes with another issue: the entire economy is at a low as well. But that's not necessarily a problem. If real estate can pay for itself, it can be a good investment.
Rental income property is the key. The inventory of properties for sale right now are rife with homes that are underwater, or worth less than their mortgages, or they are going through foreclosure or other forms of financial challenges. Among the many new options is a thing called a "short sale" which allows a property owner to sell the property, but not pay taxes on the net gain of the sale.
There are neighborhoods in some of the harder hit states across America that have homes worth 25, 35, even 50% less than their original purchase value. These homes selling and they are in good neighborhoods with good rental prices. Another fact to remember is that people always need a place to live. But the housing pool has not changed so much that rental prices went down. This means that a house that once cost an unreasonable amount per month to buy becomes affordable as a rental. A three bedroom house that once cost $3,600 a month for its payment is now $1,600 or less to finance while renting it for $1,900 per month.
If a house has lost half of its value then the ten or twenty percent down payment is halved as well. Organize finances, contact a banker or broker and research the beginning steps of financing. Many people forget is that financiers only make money when they are, in fact, financing something. Create a workable plan, with a solid financing and obtaining that loan can be easy.
Agents who sell homes are also agents who buy homes. An agent who is short selling a home may be very inclined to become the buyer's agent as well. In this case, both the buying and selling commission go to the same agent, so costs can be negotiated down. These same agents also work with a cadre of professionals involved in industry; brokers, lenders, title insurance agents, all of them will be looking for stable and reliable customers with whom to do business. These people will have useful tips of their own to share.
Real estate investing secrets are not hidden, in fact, many are in plain sight. Careful planning, organized execution and a lot of forethought will activate those secrets and create success.
Investment in property has reached an all-time low. In the old days, people always said, "buy low, sell high", a very obvious bit of advice. But the low price being discussed always comes with another issue: the entire economy is at a low as well. But that's not necessarily a problem. If real estate can pay for itself, it can be a good investment.
Rental income property is the key. The inventory of properties for sale right now are rife with homes that are underwater, or worth less than their mortgages, or they are going through foreclosure or other forms of financial challenges. Among the many new options is a thing called a "short sale" which allows a property owner to sell the property, but not pay taxes on the net gain of the sale.
There are neighborhoods in some of the harder hit states across America that have homes worth 25, 35, even 50% less than their original purchase value. These homes selling and they are in good neighborhoods with good rental prices. Another fact to remember is that people always need a place to live. But the housing pool has not changed so much that rental prices went down. This means that a house that once cost an unreasonable amount per month to buy becomes affordable as a rental. A three bedroom house that once cost $3,600 a month for its payment is now $1,600 or less to finance while renting it for $1,900 per month.
If a house has lost half of its value then the ten or twenty percent down payment is halved as well. Organize finances, contact a banker or broker and research the beginning steps of financing. Many people forget is that financiers only make money when they are, in fact, financing something. Create a workable plan, with a solid financing and obtaining that loan can be easy.
Agents who sell homes are also agents who buy homes. An agent who is short selling a home may be very inclined to become the buyer's agent as well. In this case, both the buying and selling commission go to the same agent, so costs can be negotiated down. These same agents also work with a cadre of professionals involved in industry; brokers, lenders, title insurance agents, all of them will be looking for stable and reliable customers with whom to do business. These people will have useful tips of their own to share.
Real estate investing secrets are not hidden, in fact, many are in plain sight. Careful planning, organized execution and a lot of forethought will activate those secrets and create success.
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