real estate only, but do please come in and share your tips!

[brady_381need72c10]

please share your tips if u have any...

[TexasF355F1]

Buy low, sell high.

[Nicole8188]

What kind of real estate tips do you want?

I need some direction to go in, this is a broad category...

[G-man422]

Originally Posted by TexasF355F1

Buy low, sell high.

I see where you're going w/ this,..and i like it! lol

[knorwj]

research is your friend. research the neighborhood of your potential investment thoroughly before buying. Try to find good deals in up and coming places as they will give you the highest profit when you decide to sell, or if you are just looking for long term rentals, they will allow you to buy low and raise rents once the area comes around.


Stay away from conventional mortgages with 20% downpayment. Look into FHA loans or if you are a veteran I believe there is a loan called a VA loan that allows you to purchase a home with only like 1% downpayment. Another one is a first time homebuyer loans, these also require very low downpayment. If you can find a nice mutifamily or duplex, live in one side and rent the rest you can still use the first time homeowner loan.

I guess pretty much just do some research of the area, houses in general. Maybe go take a real estate salesperson class, it will help you get an eye for a good deal as well as teach you how to value a home. Plus you'll know whats going on at closings.


Oh and a little tip i've figured out if you do rent out (which I highly recomend, it pays the mortgage while you wait for appreciation). Keep your rental nice. plant flowers, paint it, keep it looking nice and in nice condition. This will benefit you in two ways. For one you can rent/sell for more (but not too much above what the area charges) Second a nice home with higher rents will turn away alot of bad seeds before they even bother to try to rent from you. If you act like you don't care about the property then chances are your tenant won't either.

[drunken monkey]

real estate profits pale in comparison to developments.
a £200,000 development will net you way more profit than a simple £200,000 buy/let/speculation. There is of course a hell of a lot more headachesinvolved with developing but get yourself a good team and you are pretty much sorted.