To be successful with real estate investing, it’s vital to stay informed about what’s available. There are several resources for learning about investing in commercial property and homes. Property listings come in many forms.
One of the most informative visual formats available is the television channel for local real estate agents and real estate investors. I like this because I can sit down with a pen and pad and jot down what I want to follow. I then go online and locate the property so I can get more details. I simply enter the address into the search engine and a list of real estate will appear.
Another way to keep up with the latest properties is to look at the real estate listings in the local newspaper. There is usually a designated day for the real estate focus in the classified ads. It is often Sunday, but Saturday is also popular. Real estate investment will depend on the investment funds available and it is useful to know what the limits are before making any calls. Most real estate agents prefer that you have a pre-approved figure. They don’t want to get caught up in the “maybe” about funding. It doesn’t hurt to shop around, but be ready when the time comes when you want to buy.
Flipping houses is still very much alive and well. In today’s economy it can be very beneficial to invest a little money in something that will turn you around quickly. It may be possible to get labor, for renovations, more easily these days. Keep in mind that when it comes to investing in real estate, all repair costs must be taken into account. There is no point in purchasing a property if there are no funds available to make the necessary changes. I like to search the municipal website for public auctions on foreclosures and tax sales. There is usually a summary of what to do and forms available to print. If nothing is listed, check with your local tax office. Generally speaking, the Sheriff’s office usually handles an actual sale.
A great resource for local contact information is the office of Housing and Urban Development. The local office, if not known, can also be found online. Any HUD homes that are available can be linked from the website. Real estate investing is something to be taken seriously, but it is also a lot of fun. Creative people, like me, love being able to go in and make a dream home from a challenging perspective. The bottom line is that if you don’t have fun, you won’t have fun for long.