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10 Important Tips to Successful
Real Estate Investing
Be a Real Estate Investor - 10 Important Secrets
When it comes to investing, everybody has certain
goals and aspirations. However, we have found that there are certain guidelines every aspiring real estate investor
needs to know:
1. Compare Property Values and Rents
Financial statistics only go so far; the best
measure of a property's market value is often the sale prices of nearby properties. The same holds true for area
rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to
buy instead, so reasonably priced rent is a need.
2. Be careful - Tax laws may change
Don't base your tax investment on current tax
laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code.
The right property with the right financing is what you should look for as an investor.
3. Specialize in something you Know
Start in a market segment you know. Whether you
focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment
buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties.
4. Know the Costs going in!
Know the financial statements inside out. What
are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like?
These are key issues that must be addressed before making a solid investment.
5. Know where your tenants are coming from
If the last rent increase was recent, your tenants
may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting
buyers. It is also important to collect the tenants' security deposits at closing.
6. Assess the tax situation
Taxes are an integral part of successful real
estate investing, and they often make the difference between a positive cash flow and a negative one. Know the
tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor.
7. Investigate insurance coverage
If seller's coverage is based on lower-than-current
replacement value, your insurance cost may increase when you pay a higher purchase price.
8. Confirm Utility Costs
Ask the local utilities to verify recent utility
expenses, especially if any of these costs are included in your tenant's rent.
9. Consult Your Accountant
Taxation is a key element of successful real
estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code.
10. Inspect!
Make sure that you always perform a thorough
inspection of the property before buying it. Never, ever buy any property without at least examining the site.
In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment.
Should you be interested in seeing what the Las Vegas area has to offer in investment properties like Bank Owned
or REO, HUD, VA or other Foreclosures and the like please feel free to send me an e-mail at Broker@LasVegasBankOwned.com
Thank You
Thomas Blanchard, Broker Owner
1st Realty Group
702-456-7376
Real Estate Reports
BUYER REPORTS
SELLER REPORTS
REO Asset Services was specifically started to serve
the Las Vegas Foreclosures Real Estate needs of Banks and Financial Institutions in the disposition of their Bank
Owned foreclosed homes. So if your looking for a Las Vegas Foreclosure or Bank Owned Foreclosed Home, REO, VA or
HUD Repos, we are the Company for you. After all we are:
"Your Las Vegas Real Estate Connection!"
We also handle the marketing and purchasing for most
difficult or specialized Real Estate transactions: Properties in Default - Pre-Foreclosure - Bankruptcy - Divorce
- Probate
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