Investing In Real Estate, How Do I Get Rich?Written by Barrett Niehus
Title: Investing In Real Estate, How Do I Get Rich? Author: Barrett Niehus License: Publish freely both online and offline. Please Include resource box in publication. Word Count: 572++++++++++++++++++++ Investing In Real Estate, How Do I Get Rich? By Barrett Niehus Fundamentally, you have three ways to make money when purchasing investment property. The first is to lease property for an indefinite period at rents that exceed cost of holding asset. The second is to purchase property with intent of renovating it to substantially increase value and selling it quickly. The third is to find properties that need to be liquidated quickly at a substantial sacrifice to equity. An investor can acquire these properties and immediately sell them for a substantial profit. Essentially, these three concepts have made more millionaires than any other type of venture in human history. Having said that, why aren't you creating your wealth with real estate? For many, it is fear; for others it is lack of capital. However, for all, it is merely a lack of understanding. People buy and sell real estate with no money down all of time, and real estate has always been a much safer investment than stock market. So how do you get started? The first step is always education. Start reading books about real estate investments. Go book store or library and learn fundamentals. You don't need to be an expert, but you must understand process. Find a realtor that works with investment properties and ask questions. Do same for mortgage brokers and banks. Sit down with a loan officer or mortgage broker and determine how you would finance an investment. Ask questions and find real estate and finance professionals that can help protect your interests as you learn. The next step? ... Find properties. With aid of real estate professionals, determine best type of investment for your lifestyle, financial position, and risk profile. After you determined best type of property to maximize your return, begin searching for your investment. For this, internet has become an invaluable, time saving, tool. Search for potential investments at sites like freeForclosureSearch.com (http://www.foreclosurefreesearch.com/index.cfm?rsp=2428) or Reals.com (http://www.reals.com) In addition, you can look through your local paper, visit county county recorder, and call on resources of your network to find opportunity.
| | Miracle on My StreetWritten by Amy Young
Buying a home for first time, or any time, can be an exciting adventure, as well as a scary one.On other hand, there’s also pleasure of participating in American dream of owning your own home. No more having to be quiet because other tenants might complain. No more having to fight for a parking spot nearby. No more dealing with landlords. The advantages of home ownership are both personal and financial. On personal side, there’s very real pleasure of being master of your castle. You can put a nail in wall to hang a picture without worrying that you might not get all of your cleaning deposit back. In short, there’s a kind of freedom that comes with home ownership that tenants never get to experience. In addition, there are financial rewards. You get to deduct (in most cases) all your mortgage interest and your taxes. When you sell, you can often defer your gain from immediate taxation by rolling it over into a more expensive home. And when you reach age of 55, you may be eligible for a big “gift” from Uncle Sam — you may not have to pay taxes on up to $125,000 of profit on sale of you home. If you have an office at home, you may even be able to take a deduction for it. With Christmas just weeks away, one might wonder if American dream of a family owning its own home could become a reality by Christmas day. Is it still possible to buy, close and move into a new home by Christmas, and if so, how does one prepare to make dream come true? Most developers surveyed in Dade and Broward County area unequivocally agreed that it is not only possible to move into a new home by Christmas, but feat has been accomplished many times. It borders on a myth that home owners always experience a two- to three-month wait on a new home closing. The developers questioned reported that a mortgage can be arranged, approved, and property inspected in less than two weeks. Most developers have finished homes which are ready for immediate occupancy as soon as loan is approved. Some developers in area offer in-house financing, or have lenders they work with very closely which promotes a speedy loan approval process. “It makes mortgage process much easier and much more efficient. It can save buyer money and he could move in in a timely manner,” said Traci Phillips, marketing director for Lennar’s Dade County Division.
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