1 of 13

Write now Article Tools

I have a tried and true method that I have been using since I was 19, and has not ever let me down. These tips will help you in finding and maintaining a good Real Estate investment, and ensuring that you turn a profit. Below is advice for choosing such an investment, as well as advice and tips that anyone can use at any age or skill level.

When talking about real estate investment, what most people are looking for is a residential property they can fix up and sell or rent out, for a decent profit. This can be a rewarding and even fun experience or a total nightmare, it depends on how you go about the situation.

First, you must look at this enterprise, just as you would any other small business you are starting, and treat it as such, at all times. Start out with a business plan that incorporates your strengths and weaknesses. How much time and money you have to invest in the business and a set definition of your goal, be it to become self sustaining and quit your current job, or to use the income stream to help pad your retirement years.

This will require you to find prospective investments, of which can be found in any local newspaper, with the help of real estate agents, or via the internet. The old adage is true location matters. Consider if schools or other amenities are nearby that would increase the value of the residents, and spend some time checking out the neighborhood, and see if it in a desirable part of town, or if in a somewhat lower class area, use all of these as determinations as to whether it is priced reasonably, and as leverage for negotiation. Always, ask yourself, would you want to live here?

Be sure to check everything over in and out of the home, check for black mold using a test kit from online, or any home improvement store, they cost about $9.99, and will give pretty reliable results. Black mold can cause sever allergies or even death, and can cost thousands to clean up. Also either learn to spot trouble area's such as soft rot ,water damage and termite problems, or hire a contractor to go with you, for the inspection, the money spent for an hour or two of expert advise will be well worth it, until you are able to spot trouble area's yourself. Don't just go on the word of the owner or Realtor on anything, unless it is on paper, and notarized. Ask questions on everything and either make notes, tape record or if possible video record the inspection, these are invaluable to the decision process and can be accessed at anytime for reference.

After

• 1
• 2
• 3
• 4
• 5
• 6
• next page >>

Add your voice

Know something about Choosing a good real estate investment?
We want to hear your view. Write now!