professional real estate investing and buying a house smartThe first thing you should think about before you buy any house with credit or piece of property with credit is whether or not if worst of circumstances arrive could you still pay on it. (plan for the worst) if you could still makes the payments on the house would it be worth it? If I lose my job do I still have enough money to some how make the payments on the house or property including all the taxes upkeep and insurance until I get another job? Make sure you have good enough credit to buy the house your looking for in general and set yourself a goal in your mind that you want to try and get a house CHEAP. going private or public Many people see a house or property and they think they have to have it-they fall in love with it. Falling in love with property or a house means that you will probably lose money since it's an emotion. This leads me to my next rule, fall in love with a good deal not the house itself. If you use your emotion to buy a house your sure to lose money since making money is no longer an issue with the house or property.After I have a market strategy in professional real estate investingOnce you have a plan for paying for the house that you want, and you think it's a good deal, before you actually buy it consider this thought "in the region that you live in do you think that the price of real estate in general will go up or down"? What is the U.S. real estate market doing in general? Where is it's location in the area you live in? Is it in town, in a rural area or in a location that isn't desirable to most people? Lastly the most important thing is this, if you buy this piece of property or a house will MORE people eventually come to that area, or will more people think it's desirable? You probably can think of many examples of this. I know where I live there is a south hills area which 60 years ago has almost nothing on it but two houses. Now it's full of houses and property-development because it became very desirable thanks to the view it has of the city. If you would have bought some cheap property there years ago you would be rich. Unless by sheer luck though you would probably have to have some professional real estate investing skills to know it was a prime spot. being thrifty What about the CORPORATE part of your town? You know the part of town where all the Target's wal-mart's Barnes and Noble's Best Buys, Taco Bells, McDonald's Wendy's etc. etc.. Think about it they weren't all there at one time were they? What if you would have bough that prime property before corporate America came in? They would probably offer you a pretty penny for your land as we can guess. Try to think about the next prime spot BEFORE you buy property or housing as this will insure professional real estate investing. |