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 leaserepparttar property for an indefinite period at rents that exceedrepparttar 112730 cost of holdingrepparttar 112731 asset. The second is to purchaserepparttar 112732 property withrepparttar 112733 intent of renovating it to substantially increaserepparttar 112734 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 ofrepparttar 112735 time, and real estate has always been a much safer investment thanrepparttar 112736 stock market.

So how do you get started?

The first step is always education. Start reading books about real estate investments. Gorepparttar 112737 book store or library and learnrepparttar 112738 fundamentals. You don't need to be an expert, but you must understandrepparttar 112739 process. Find a realtor that works with investment properties and ask questions. Dorepparttar 112740 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? ... Findrepparttar 112741 properties.

Withrepparttar 112742 aid ofrepparttar 112743 real estate professionals, determinerepparttar 112744 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,repparttar 112745 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 countyrepparttar 112746 county recorder, and call onrepparttar 112747 resources of your network to findrepparttar 112748 opportunity.

Miracle on My Street

Written by Amy Young


Buying a home forrepparttar first time, or any time, can be an exciting adventure, as well as a scary one.

Onrepparttar 112729 other hand, there’s alsorepparttar 112730 pleasure of participating inrepparttar 112731 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. Onrepparttar 112732 personal side, there’srepparttar 112733 very real pleasure of being master of your castle. You can put a nail inrepparttar 112734 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 reachrepparttar 112735 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 ofrepparttar 112736 profit onrepparttar 112737 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 ifrepparttar 112738 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 makerepparttar 112739 dream come true?

Most developers surveyed inrepparttar 112740 Dade and Broward County area unequivocally agreed that it is not only possible to move into a new home by Christmas, butrepparttar 112741 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, andrepparttar 112742 property inspected in less than two weeks. Most developers have finished homes which are ready for immediate occupancy as soon asrepparttar 112743 loan is approved.

Some developers inrepparttar 112744 area offer in-house financing, or have lenders they work with very closely which promotes a speedy loan approval process. “It makesrepparttar 112745 mortgage process much easier and much more efficient. It can saverepparttar 112746 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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