Are you interested in real estate business? It sure is tempting, but what are the pitfalls? What should a new investor know before putting money into real estate?
There is one mantra that successful real estate investors live by: “buy low – sell high”. How can you apply this to your investment strategy?
1. Dont get oversold: New investors can easily get caught up in the sale. Without experience or a background in real estate you may think your instincts are good and quickly get in over your head. Investment properties need to be undervalued and you need to do your research first. Don’t plan to buy without spending a lot of time comparing values. Your goal is to purchase an undervalued property which can take time and experience to spot.
The best way to determine the true value of a property is by comparing similar properties and noting the common features. The properties must be in the same area since location can drastically affect price range.
Take note of the features and failings of each property, how long they’re on the market and the price they sell for. Once you have a good understanding of the value of...
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