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Key Real Estate Investing Tips

Are you considering investing in real estate? Learn all that you can before you start your venture in this tough but hugely profitable arena. I like to think of it like "a game" — a game that you are going to get really good at... and win!

3 Benefits of Buying Short Sale Properties

Many buyers take advantage of short sales due to the fact that it offers them a likely bargain. The benefit of this trend is that real estate property will appreciate with time, especially if the real estate market condition gets better.

Look At What The Experts Are Doing

If you are unsure about how to approach this investment opportunity in your area, it is a good idea to take a look at what the experts are doing. Here are a few tips that should go a long way in making sure your investments are fruitful right from the get go. They were key for us!

REO-Real Estate Owned Opportunities

As a result of the housing crisis that hit various regions particularly hard, a large number of REO-Real Estate Owned opportunities surfaced in the market. It is now increasingly common to find these “bank-owned” real estate properties.

Rent and Hold or Fix and Flip

One of the best investments that you can make today is real estate. While purchasing your own home is certainly a great way to invest your funds, many have discovered that buying properties to rent or fix up and sell can be a fabulous way to make significant profit.

Different Types Of Real Estate Investing

When you say “real estate investing”, most people think it’s all about buying a property and renting it out as a landlord. However, the truth is that there are other forms of real estate investment that you can venture into...

Colorado autumn

About

My name is Sung and I live in Colorado. I have been doing real estate investing for the last couple decades and have had many ups and downs. The purpose of this website is to help others avoid the issues I encountered throughout the years. As with many things, the right preparation, planning and decision-making are imperative to success. However, with buying and selling properties the wrong decision can freeze your ability for quite awhile! It was actually during these times that I retooled and took notes so that my future moves wouldn’t put me in the same position again. From this came the inspiration for this website.

We have been fortunate here in Colorado as the housing market here has remained steady through last decade’s recession. However, the same trends that have happened elsewhere in the country also apply here but just not to the same severity. Many of the techniques that we have employed will actually work better in more turbulent markets. Interestingly there have still been many foreclosures and REO properties which provided opportunities for people that were ready, like me and my wife. We have had success with buy, rent and hold investments as well as fix and flips. Generally we have renovated the properties (once we finally closed on them!) and rented out the houses/condos in decent shape. However, this is mostly decided on a case by case basis. The complexities are endless but I will do my best to shed light on the key elements that can make or break success.

I look forward to sharing my knowledge, insights and resources with you to help you with you venture. Happy investing!

Let's Dive in!

Paging Captain Obvious!

Everyone knows the big cliche: Location – location – location! Well, it really is one of the biggest keys to any real estate investment. Many of the other factors, such as property condition can be changed. Properties in areas that are depreciating are generally bad investments so dig in and really get to know the area where you’re buying.

When you are investing in real estate, it is imperative to take emotion out of the equation. Your goal is to generate the most profit possible so focus your efforts into maximizing the value of the property in the future. This will keep you on track and help you to make the most profit.

Use Your Spidey Senses

Stay away from deals that are too good to be true, especially with other investors that you may not trust. It is important to stick with those who have a good reputation because getting ripped off in this business can cost you a LOT of money.

When you invest in real estate to rent the property out, think about how long it will take to get your money back and take that into consideration. You can’t use that money on anything property-related if it takes years to get the money back in the form of monthly rental payments.

Silence is Golden, Then Make Your Move

When negotiating deals, take the time to listen, rather than doing all the talking. You might be shocked to see just how many people negotiate against their own interests when they have the chance to just run their mouth. Also, because you are listening, you will catch the right moment to strike for the price you seek.

Make sure that you set realistic goals based on the budget that you have. If you only have a 20 thousand dollars to your name, you should not set a goal to buy four houses in the span of a month. Set reasonable expectations to avoid setbacks at all costs.

Within the realm of real estate, go with an area of expertise you have some experience with or have a good aptitude for. If you stay focused within your specific niche, you can have much more success with this kind of investing. There are many ways to approach a property, so keep an open mind. Flip a home quickly, or do a big renovation or go with properties with cheap down payments — bottom line, use what you know to succeed.

Be careful about choosing properties with strange room layouts. You may personally find it interesting, but many people don’t like to buy wacky designed homes as they can be extremely hard sells. Picking one up without a potential buyer in mind can lead to it sitting in your inventory for months, if not years.

Don’t Be Penny-wise and Dollar-Foolish

Hiring a good real estate agent that specializes in investment properties will allow you to find the best deals on properties. When it comes time to sell, marketing will be crucial to your success as it is what generates your leads. Work with a really good agent and you will sell your property much faster. We made the mistake of trying to pinch pennies and do a FSBO (For Sale By Owner) on our first property. After having the house on the market for over 4 months, we turned to the team at the New Era Group and we had a great offer in a week! Lesson learned... Keep moving forward and don’t skimp on the things that matter.

People around the world supplement their income with the help of real estate investments. But to ensure success, you need to learn all you can about it. These suggestions should help you to invest smartly. Treat it like a business and stay focused – success will come.