Basic Investment Real Estate Information for Beginners
Are you new to the investment real estate market? If you are, first I would like to say congratulations for choosing this booming market. Investment real estate is rewarding to those who are hard workers and have a wonderful imagination. The investment real estate market is unlike any other line of work; notice how I did not say job. Anyone can become a huge success in a short amount of time. What other field doesn't require a college degree and allows you to make more then doctors and lawyers without the long pain staking hours. While most high paid professions require years of expensive schooling, real estate investing requires a basic knowledge of numbers and a healthy dose of common sense. This basic investment real estate information is written for beginners to this market. It should better inform you of the basics of investment real estate opportunities.
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Maybe I am wrong but I never once heard a parent teach their children to work hard and take educated financial risks. This has always stumped me because history has shown that the individuals that have taken educated financial risks, especially in investment real estate, almost always come out on top. The fact is that it is very hard to lose money in investment real estate, even if you do not know the first thing about real estate or investing. This market requires low down payments and only a basic layout of the market to begin investing. Chances are you will still turn a profit even if you do not make the best investment decision.
No Safe Investment
The biggest reason everyone does not jump into investment real estate is because they are afraid. The fear involves investing a large amount of money into something that is not guaranteed to turn a profit. There is no safety net in these opportunities. The idea of spending thousands of dollars and risking not seeing a cent scares mainstream America. We are a culture that is continually taught "Get a hard day's pay for a hard day’s work". To get over this fear we should be taught "Make educated risks and play the odds to win". Although, always remember that there is now a low amount of risk associated with this market. With a low down payment required for most properties you still are in more control of the risk, unlike other investments.
No Time or Effort Necessary!
Let's face it; it is a new world out there. Buying and fixing up houses is usually profitable. Investment real estate never involves going to be running your own late night infomercial building and fixing up run down houses. In fact, you don't need to put any time or effort into investment houses anymore. Years ago only the big real estate investors made money. They accomplished this by building preconstruction and investment housing. Now, the market has adjusted so that people like you and me can invest in property with the banks money and invest it in safe investments.
Give it time
You are not going to become a real estate mogul over night. Give yourself time to research the industry before you buy investment property. Remember to research not only what develops a track record but also the management company. In other words, look over your entire investment thoroughly. Also, see where the investment is going to be built and ask "Would I buy it here".
Emotions are for families not investors
Do not fall in love with a certain project or development. Many time investors go to a seminar and fall in love with a certain project. This makes investors not to think about investing anywhere else. When looking for investment real estate properties you must be completely unbiased or else you could fall victim to the age old real estate pitfalls. This is a fast passed market and you do not want to fall behind in your research. Remember the line "This is just another project" when researching your investment.
Act smart but act quickly
If you like an investment project, especially a preconstruction development, be sure to ask the brokerage how much time you have to invest. With the rise of real estate investors entering the market the chances are if a good development opens up in the preconstruction phase it will be sold out in less than 72 hours. Do your research but remember those who get on board early make the best return on investment. Never forget, this is a fast moving market and decisions are made 24 hours a day. Although, even if you miss out on one opportunity before you know the ropes, another will come along. But do not delay to long, an areas investment opportunities do run out.
The Bottom Line
Bottom line is that in this market you have to be very careful who you invest your money with. Many companies have their needs above the clients, with this in mind a single big ticket sale allow many companies not to need referrals or returning customers to stay profitable.
Remember, when in search of Florida investment real estate chose a brokerage that has a large selection of both preconstruction and phase one projects. Also, make sure they do not pressure you into one of their flagship developments because this is where they can make a higher percent off the sale.
If you ever have a question about a specific preconstruction project or development in this market, particularly the Florida and Las Vegas markets, feel free to contact YAERD at 312-546-4911. I am here to give you my honest advice on any project in this market.
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