Real Estate Information | Let us create a 3d Digital eBook for you! DigyCat.com |
|
How to Build A Rental Property Money Machine
If you are looking for a steady, income-producing investment that isn't dependent on the ups and downs of the stock market, rental property is just the investment you're looking for! As lucrative as owning rental property can be, the wrong property can be a bottomless money pit. You need to know how to go about locating property, finding tenants, managing the rental, and how to make your investment profitable. Many first-time landlords learn lessons the hard way. They end up spending thousands of dollars on repairs, chasing after tenants for rents, and are constantly being called up in the middle of the night to take care of minor repairs such as burned out light bulbs. If this sounds like you, instead of throwing in the towel, learn from your mistakes. For some investors, it may be as simple as starting to treat their rentals as a business. The right way Start fresh from the beginning. Utilize a return-on-investment (ROI) formula in order to determine what you need to charge for rent in order to have a positive ROI. If the market in your area cannot bear the amount of rental income needed, you may want to consider selling that property. Also, learn the value of proper tenant selection and a solid lease agreement. Using these two approaches will make being a landlord a pleasant and profitable experience. Locate properties effectively Every single residential property is a potential investment winner and no property should be discounted without consideration. Hone your search by spotting the "dynamic" properties among the "duds." Strategy: Look for properties in local neighborhoods where home prices are stable and appreciating. Stable and appreciating neighborhoods ensure the preservation of your investment and can provide additional return-on-investment through appreciation of your property. Strategy: Look specifically at middle to low end of the price range in neighborhoods. It is there that you will find more room for appreciation of property values. Do the math before you buy Once you have zeroed in on a prospective rental property, run your numbers through your Russ Whitney Real Estate Success Software or use the following return-on-investment (ROI) formulas to determine whether to make a purchase offer or to move on to the next property. Russ Whitney - Real Estate Millionaire, best-selling author and CEO of Whitney Information Network, Inc. Russ Whitney is a hard-driving, intense achiever and leader who never slows his tireless pace. From running a multi-million dollar educational company to spending time with his family Russ Whitney is the picture and embodiment of success of the American Dream.
MORE RESOURCES: |
RELATED ARTICLES
How Much Should I Pay For This House? We probably answer this question for someone a couple times every week. The problem is that they don't have a good formula for determining the most they can pay and still make a profit - so they're scared to make any offer. Real Estate Investment Requires A Team I had a hard time at first with real estate investment. One of the reasons was that I tended to be a "lone wolf," trying to do too much myself. Boston Real Estate - Choosing the Right Boston Real Estate Agent As a successful Boston real estate agent, it always puzzled me how and why some people choose particular Boston real estate agents to sell their homes. For most of us, a real estate purchase is the single largest investment we will ever make in our lives. Property for Sale in Piemonte Italy is Attracting British Interest The Region has four distinct seasons but in general possesses a Mediterranean feel strongly influenced by the proximity of the Mediterranean Sea. Winters are short and cold (the snow and mountains providing spectacular scenery for the region's ski resorts). Boston Real Estate - Interest Rates and Inventory Must be Analyzed when Selling Your Boston Home When selling your Boston home, it's good practice to be aware of what similar homes in your neighborhood have recently sold for. Recent comparable sales are not only what a good Boston real estate agent should use for guidance when pricing your home, but also what a bank appraiser will use if and when your buyer applies for a mortgage to buy your home. Selling Your Own Home: 10 More Tips Selling your own home can be a time-consuming and frustrating process. Sometimes, though, in the right market, it makes sense to save thousands of dollars in commission and do it yourself. An Ideal Way to Purchase Your New Home without Strict Banking Regulations You've searched high and low around town looking for thatspecial home for you and your family. Everyone agrees that"this is the one"! Your down payment for the home is largeenough, but you know your credit is terrible, or worse,practically non-existent. Why Real Estate Investment? Why should you invest in real estate? Well, investing in real estate for profit is one of the most popular approaches to generating additional income in the United States today. In fact, if you pay attention to recent press you will have seen numerous reports about the real estate investment craze that seems to be sweeping the Nation. Real Estate Investing - Basis Explained Our complex IRS code requires that your, as a real estate investor,accurately calculate your "basis" in investment property when reportinga gain or loss on a tax return.Your monetary gain or loss when you sell investment property is determined by comparing the sale price to the adjusted basis in the property. Flat Fee MLS Listings - Is This The Future Of Real Estate Realtors are all a buzz about this new form of listing houses on the MLS (multiple listing service). Some feel it creates more work for the buyers agent, while others see this as a way to tap into the For Sale By Owner market. How to Become a Successful Real Estate Developer Real estate investment and development has never been a more popular pastime or career changing challenge; if you would like to learn seven secrets for consistently successful real estate investing through development or you would like to know how you can continue to profit from property even if the market takes a downward turn just read on?1) Do Your Location Homework - did you know that through successful and sustained location research professional property investors actually continue to profit during a market down turn? It's true - whatever the market conditions you can apply their location research approach to your real estate investments and also make consistent profits from property.Take the necessary time to learn all about a town or city you're considering for your next property development purchase and discover where the up and coming areas of that town are likely to be. How to Sell Your House by Lease Options Many people buy a house then have to move within a few years, due to divorce, relocation or financial difficulties. Without any equity though, it can be nearly impossible to find buyers and you still have realtor fees to contend with. Lease Purchasing Is The Perfect Home-Based Business Some call it the 30 second commute. We call it wonderful. San Diego Home Evaluation The Southern California city of San Diego has all the attractions of a big city with the tropical feel of the coast. Covering nearly 350 square miles with over 1. Escalation Clauses - A Home Buyers Secret Weapon Today we discuss escalation clauses because much of the country is experiencing an extreme "sellers' market." By that, I mean there are more buyers than there are sellers, and that results in sellers' getting more than one offer to buy their property. Things To Consider Before Buying a Condo Hotel or Resort Residence Resort home ownership, such as condo hotels and fractional shares is different from typical home ownership. So it is important to ask certain questions before signing the purchase agreement on a resort property. What To Expect From Your House Appraisal Having your house appraised can be a scary step in the moving process, especially if you don't know what to expect. Will your house pass muster or will they find some hidden defects and problems lurking in the basement and attic? Should you scrub the house clean?Don't worry - this isn't a test of how clean you keep your house or even if your house has problems (that will be for the home inspector to find out). Fixing Houses: Mixing Your Own Paint for Savings and Harmony To make the maximum profit on your investment properties, you'll need to save money wherever you can. One way to save significant amounts of money is to mix your own paint. Dont Buy Ugly Houses! Ugly houses can be great investments, but we don't buy them. We understand that there are lots of valid ways to make money investing in real estate. Buying and Selling Real Estate: Negotiating to Win-Win You don't get what you deserve - you get what you negotiate for.If you've spent some time on homekeys. |
List4Sale Domain Is For Sale - $10,000 For Enquiries eMail Us © www.List4Sale.biz 2012 |