6 Jan 2012
Here are some very practical points about real estate investing and the fundamental things you should know about if you’re an investor or looking to enter the investment arena.
Whilst it can be profitable for some people, there are always stories about those that it hasn’t worked so well for. You can learn from other people’s mistakes and their achievements, so keeping a close eye and ear on what other people are doing can be very beneficial.
Seeking professional advice is always number one in my books, although you shouldn’t always believe everything you’re told. Make sure there are credible facts to back up opinions – this is the only way to know for sure that you’re getting helpful advice.
Here are some things that you should know about when you’re looking to invest in real estate:
* Methods of buying & selling real estate – what suits your circumstances?
* The area you’re looking in – is there a high demand for rental properties?
* Time investment – how long do you intend to invest for?
* Gearing – are you looking for positively or negatively geared investments?
* Valuations – what is the land/property valuation?
* Debt – know whether you’re getting yourself into good or bad debt. Are you going to gain on your investment?
As I said before, keep your eyes and ears open and talk to people who have been there and done that. Also do your own research – the internet is a great place to find information without feeling like you have to sign on the dotted line at the end. Don’t be pressured into anything. You should feel very comfortable with any transaction, and know that you have all of the information you need to make an informed decision. Good luck with your property investing!