invest in real estate involves many things for which you need professional help. Searching a home is just the start of the process as there is a long way to go. You would search your dream home and then start negotiations with the seller. Both you and the seller would reach at a price and then you start making the payments. Since real estate is a legal matter, you need to fulfill certain legal formalities.
How much money do you spend on books, seminars and workshops that teach you how to earn, save and invest your money? Any money you spend on these activities is certain to bring you a return at some point in time. Investing in your financial education can never be a waste of time and money.
Once you’ve got to know a handful of local bankers, mention that you invest in real estate and would really like to have a sit-down with the REO supervisor. But don’t do this unless you have the cash available to close a deal fast.
There once a great timber company that possessed the best lumberjacks (technicians) and whose (managers) the had developed the best and most advanced processes and methodologies for cutting down trees. Their reputation was the envy of every timber company in the region… as this company could enter a forest and harvest more board feet of timber in one day then most companies could harvest in a week.
Once you put your home on the market, it is important to remember that your home is no longer your home, but a product you are selling. Staging will help “package” your product more effectively.
When you subtract all of that from your expected sales price, you have $66,000. That’s the most you’ll pay if you want a safe real estate investment. Offer $61,000, and walk away if you and the seller can’t settle on something under $66,000.