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How can you convince me to invest in real estate when it costs 8% to 10% of the house price compared to less than $10 to buy and sell stocks? Is there any way to minimize expenses in real estate transactions?Even though investing in real estate might be classified as a passive investment if you start to own several it is not. You are essentially running a business. Unlike if you buy an mutual fund where the fund manager is doing all the work. Yes you can hire a property manager and I say good luck with that. I have yet to met someone with a good experience doing that and I have been investing for over 30 years now. In fact any time I hear someone saying good things about a property manager is usually the property manager or his relatives. If you want to make money investing in real estate no one is going to care about your money more than you and you need to be active. So it is more like comparing it to the cost of starting a business.
What is the procedure to fill out the DU admission form? How many colleges and courses can I fill in?It's as simple as filling any school admission form but you need to be quite careful while filling for courses ,don't mind you are from which stream in class 12 choose all the courses you feel like choosing,there is no limitations in choosing course and yes you must fill all the courses related to your stream ,additionally there is no choice for filling of college names in the application form .
What is the best study source for the NC Real estate exam? Friend failed by 8 questions and has to retake within a month, however 5 days out is that latest that a test is offered in the area.Go to Cooke Real Estate school online. They work in many states and it can help you. Frank owns the company if you can't find something on his site call him.They do online classes with an instructor and it is awesome I don't think I would have passed without them and they do the CR credits you need to renew also.http://www.cookeschool.com/
What are some proven ways to invest in real estate? Is buying a 6 to 10 condo units and renting it out a good idea for a new investor?Don’t start that big if you are new, I would say go with single houses first and learn every aspect.If you learn every aspect and look closely before investing, you will get more benefit out of it. Most of the people think that rental real estate is just buying a property and then open it for rent but there is much more to it than that.Here are a few steps you should considerStep #1 – Choosing Your Property TypeWell, there are many kinds of rental properties that you can start investing in. You can choose to invest in single family homes, multi-family units, shopping centers, storage units, office buildings, and whatnot.All of these categories have varying prices and opportunities, it’s your job to choose one, depending upon the size of the investment you want to make.Let me give you a breakdown.Residential PropertiesSingle Family UnitsMulti-Family UnitsApartmentsCommercial PropertiesShopping CentersOffice BuildingsStorage UnitsBesides these self-managed options, there is also the option to invest through different investment funds. These funds are a wonderful way for small-time investors to get started in real estate investing and make their way from there.Step # 2 – Choosing Between Local or Long Distance PropertiesThe second step you have to take care of before you get into buying a rental property is to decide whether you want to invest locally or in a long distance property.What do I mean by this?A local investment would be in a property located in your own market, your own neighborhood, or your own city.But a long distance investment would mean investing in another market, another city where you see a potential of market value increasing over time.Still not making sense? Hold on a minute.Benefits Of Investing In A Local PropertyEasily manageableEasily rented outSelf monitorableBenefits Of Investing In A Long Distance (a growing market)Higher RentsMore cash flowGreater returnsStep #3 – Choosing Between Appreciating Properties or Cash Flow OnlyAs an investor who’s focusing on buying rental properties, you need to understand how different markets behave over time.It’s an analysis of the current market value of a property against the predicted market value over a certain amount of time.Let me paint a scenario for you.There’s a property 1 in Market A which has a market value of $100,000 dollars and its expected value is predicted to increase to $150, 000 in 1 year.On the other hand, you have property 2 in Market B which has the same market value but its expected value is predicted to stay the same in a year.Obviously, you’d want to choose property 1, I would too.But, it’s crucial that you keep step #2 in mind when making the decision to invest in other markets.Step #4 – Self Management Or Hiring A Property ManagerThis is one of those decisions, you’d have to make after you’ve purchased the property. You can choose to manage those properties yourself.However, if you don’t want to be actively involved in managing those day to day tasks, you can always hire a property manager to do the job for you.Still, it’s a decision you have to take care.By managing your properties yourself, you can save up on money and keep a close watch on everything.Only, if you want to get away from all the hassle like interviewing tenants, managing rents etc. and don’t want everything on your plate, you can hire a property manager just keep in mind that this person you hire is not only going to represent you but your money as well. So until and unless you trust them fully, don’t hire them.Benefits Of Self ManagementNo extra costsClosely monitored propertiesFull controlBenefits Of Hiring A Property ManagerNo hassleNo rushing to emergenciesNo extra workStep #5 – Keeping Demographics In MindQuite frankly, this is one of the most important aspects to consider with your investment property.My friend, you have to make sure that all your demographics match up so that you can be successful as a rental property investor.Did this just go over your head?Hold on, Let me explain further.A property located in an area that doesn’t have any good schools is never going to appeal to a family with kids.Get it?All your demographics should match up to the rent you’re proposing for your property. If it doesn’t, you’ll definitely have a hard time find a tenantStep #6 – Choosing To Finance or CashA single question you need to ask yourself when buying a rental property is whether you want to pay cash or finance?If you know the answer, your job will be a lot easier.Step #7 – Choosing The Location wiselyRemember my friend, a great rental property would be one that doesn’t give you any trouble. It attracts tenants and is located in a great area so they pay their monthly dues on time.What categorizes a great property?I have managed to put together a list of different properties that are great to rent and would certainly be a smart investment.Located Around Schools: The most common tenants are usually young families with kids. So a property located near good schools would attract more families and it will be easier to rent them out.Good Neighborhood: There are people that look for houses in great neighborhoods because that overall environment is important to them. These people would even sacrifice living in a not so great house to live in a good neighborhood.Smaller Houses: One thing you need to understand is that smaller houses are easier to rent out in comparison to larger ones. So think smartly, when buying rental property.Houses With Not Too Many Upgrades: I get it, accessories are great but they don’t get you any extra rent, do they? So when making an investment, look for a clean and nice one, after all, that’s what people need, not what they want.Step #8 – Keeping A Budget For MaintenanceOne mistake that I’ve seen many investors make is to not do the math properly.It’s easy to get distracted by all the money coming in. It’s easy to lose track and not keeping a maintenance budget in mind.Don’t ever do that!No matter how good your property is, there are always going to be some maintenance charges if not many.Always keep the worse in mind when planning these things out.Step #9 – Invest In A Property That Has Positive Cash FlowWhenever you’re buying an investment property no matter rental or any other, always invest in properties that generate positive cash flow.You have to analyze all your options and invest in a property that will make you money.How it’s done?Here is a guide that will be very helpful in this scenarioAn Investor Guide to analyze dealsStep 10 # Always Have An Exit StrategyYou might have heard of having an exit strategy for your real estate investments.Substantially, buying a rental property is not any different.When you buy a property, ask yourself, what’s your goal? What do you want from this property? And, for how long do you want to keep it? It’s always good to plan ahead. Think about your exit strategy and how you’re going to handle it.Here is a guide on exit strategies for InvestorsAn Investor's Guide To Exit Strategies
What is the best way to make money investing in real estate? Ideally they would be need to be deals that are less than $75k. Should I buy foreclosures or get a loan from the bank? Do I flip the property, or buy it and rent it out?Note: I am not clear on the background (time commitments, risk tolerance etc.) of the OP. Hence, I will provide a generic answer. Here it goes:There is no "best way" to make money in Real Estate. Here's a simple analogy to help you understand.What you are asking is like walking into a Chinese buffet for lunch and asking "Which item in the buffet will fill you up?" Answer: Everything will fill you up.It depends on your preferences, and whether you are vegetarian, whether you are allergic, how full you already are, and so on.In real estate, everything makes you money. Also everything makes you losses. Here's the secret to making money in real estate. Learn one or two strategies and get good at them. Get really good at them. And you will make money.Typically, these are the 4 constraints that will impact your ability to decide on a strategy.1. Knowledge - The how tos and the art of investing. Includes underwriting, analysis, negotiation, finding deals and so on. It's about knowing what deals to NOT do, that will impact your ability to make money in the long run. E.g. when flipping, you need to buy a property max at 70-75% of its After Repair Value (ARV). Else, you will likely break even or not make any money.2. Capital - How much capital you have access to. You will approach real estate differently if you have $1 million cash versus $10,000 cash in your bank account.3. Time - How much time you can allocate to investing will determine the type of deals you can find and do. With time on your hands, you can find your own deals and maximize your returns. If you have a family and busy with life, find realtors or wholesalers, give them your investing criteria, and they will find deals for you to invest in. However, there is an expense associated with using middle men. Your returns will be lower.4. Risk tolerance - Short term risk, long term risk, do you need to make money tomorrow or are you ok with waiting 10 years?Finally, here's the pros and cons of a number of investing methods from my experience. I have written these in increasing order of capital (money) required since capital is the biggest constraints for most new investors.1. Wholesaling: You are finding an undervalued deal. E.g. you find a $100k property and negotiate with seller and get it under contract for $80k. Before the deal closes, you sell the contract to another investor for $85k, and pocket $5k at closing. You do not get to own properties. You need to be a hustler.Knowledge required: HighCapital: Low ($3-5k only)Time Commitment: High Risk: Very lowPros- Gets your feet wet in Real Estate. And make risk free moneyCons- Not a consistent source of income, you don't get to build long term wealth, not passive income.2. Creative investing: Doing funky things with real estate finance. Such as buying on terms, vendor take backs, mortgage wraps, rent to own and so on. This is one of the most lucrative ways to invest in Real estate. You become owner of properties with little money down. And you build long term wealth.Knowledge required: Very HighCapital: Low-MedTime commitment: HighRisk: depends on how the deal is being structured / financed3. Flipping - You buy run down properties, and flip them for a profit. You make large chunks of cash when you are able to fix up and sell property. I don't have a construction background so I always partner with contractor buddies for these deals.Knowledge required: Low-medium (one excel sheet is all you need with some rules of thumb. Look at the flipping calculator on bigger pockets.www.Biggerpockets.com)Capital: Med-HighTime commitment: MedRisk: Medium-High4. Buy and hold: You buy rental property and hold on to it. What I have heard from realtor friends is that the wealthiest people they know are buy and hold investors. You are leveraging the banks money and making money on appreciation in the long term. Prep for a 15-20 year hold. You can always refinance and cash out periodically. However, you have to be OK with vacancy periods, tenant headaches and market downturns.Always strive to buy cash flowing offmarket properties. These will typically not be on MLS. (Sorry for the realtors who might disagree - but I am YET to buy a property on MLS which has made me money)Knowledge required: Low-MedCapital: HighTime commitment: LowRisk: Short term risks are high. Over the long term, the risks are low5. Foreclosures - Quite lucrative in the US. Not so much in Canada. Key is to find the foreclosures in excellent areas of town. Low crimes, good schools etc.Knowledge required: Low-MedCapital: Med-HighTime commitment: MedRisk: Short term risks are high. Over the long term, the risks are low.Disclaimer: Some of the creative techniques may or may not be possible depending on the laws in your state or country.
What is stopping people in the US from forming groups to design and build their homes (apartments/housing developments) rather than relying on real estate developers?Which member of this group will do the work? How are they compensated? What expertise does the group bring to bear in this arena?I can tell you without a trace of a doubt that while most of the pieces of development can be given to a professional (attorney, civil engineer, etc.) it is the developer who stitches them together (typically under a profit motive) to make the quilt into whole cloth.Perhaps one could become a developer with the motive of creating a community for like-minded people but someone still needs to align the financial capabilities, the land assets, and the professional know-how into something that will become a proper community development.I have not experienced or learned about the German model and would be interested in any pointers. Perhaps non-profit developers in our country could pick up the baton and give this a go, assisting groups of people to achieve their housing goals.