Have you ever watched those flip shows where they buy the house and fix them up and sell them for profit? My husband and I do. I’ve told my husband several times I wish we could do something like that. Here are 4 Real Estate Investing Tips to being successful & financially stable. The dream of being your own boss can come true.
Real Estate Investment tips to being successful and financially stable
Find profitable locations
A profitable location is located in a prime area. Put yourself in your buyers place, would you want to live, or start a business in this area? Are thinking of investing in commercial properties, make sure you research the location’s foot traffic, accessibility and market profile. If you would rather invest in housing, find out if there are hospitals, schools, grocery store that renters or buyers may need. These are the things you need to consider before buying real estate property.
Ask for HELP
As a beginner, it is highly suggested that you ask for professional help. Rusty Tweed says, “Getting a consultation with real estate experts takes all the guesswork out of your business. This means more profitability for you and more time to handle all the important decisions you need to make”. Companies like TFS Properties help investors find prime locations and other opportunities that can provide a large amount of profit for their clients.
He flipped over 30 properties between 1989 and 1991 and had a great time in the real estate boom of the time. However, he learned the hard way that real estate doesn’t always go up and got caught in the Los Angeles downturn at that time.
Since then Rusty has brokered hundreds of millions of dollars of properties from the sale of apartments, single family residences and land into a multitude of income properties. He is also a founding shareholder in Exeter Exchange and has worked extensively with Bill Exeter, one of the foremost experts in California on doing 1031 exchanges.
Listing the Property
When you are finished fixing up the property, listing is the next step. List your property in known databases with a lot of online traffic, such as Zillow, Realtor.com, and Trulia. Post good quality and detailed pictures of your property from the inside and out. Provide specifications and prices. Properties in these databases are more likely to get sold or rented.
Use profits to expand your business
Real Estate is a fantastic business, but it takes persistence, wise investments and a marketing strategy to make things profitable. When starting small, make sure that you save some of your profit margins so you can put money back in the business for future investments. If you are renting out your property, that money can be used to buy another property. The money you used to convert and sell a house can help you find bigger real estate investments you can profit in.
There are so many things to know about this business and if you are a buyer. Here is Rusty’s TFS Properties FAQ page that may have more answers for you.
I’m a Gramma to a beautiful, funny, smart little girl who was born in July of 2014. She’s the joy of my family and I’m so very proud to be a gramma (an alternate spelling for grandma)! I am a coffee, music, movie and outdoor lover! My family and I love picnics, festivals and concerts. Spending time with my family is the best part of my life. I love my job as well! Blogging and product reviewing has given my family and I a lot and I have also learned a lot and made a lot of friends.