Advantage - Jim Whittaker
Create a free HomeFinder Account    Login   |    Register
Welcome!    HomeFinder   |    Log Out
  • Search For Properties
    • Start Search Here
    • Featured Properties
  • Buy A Home
    • Foreclosures Free List Mobile Friendly
    • Our Guarantee
  • Sell Your Home
    • Your Home Sold In 39 Days Guarantee!
  • Explore Places to Live
  • Advice & Tools
    • Real Estate Tips
    • The Homeowner’s Advice Blog
    • What’s My Home Worth?
    • Loan Calculator
    • My Homefinder
  • About Me
    • My Profile
    • What My Clients Say
    • Contact Me
Home > Investments > What You Need To Know About Investing In Real Estate

What You Need To Know About Investing In Real Estate

What You Need To Know About Investing In Real Estate

Real Estate Investing

When investing in real estate, it is imperative that you get a good return on your investment. A lot of people through the years come to know that investing in real estate can make them a lot of money. The following article offers great tips to help you be successful in real estate investments.

Before investing in real estate, try analyzing the market and researching thoroughly. Look at many different properties at your location and note various things on a spreadsheet. Things to list include current pricing, projected rent earnings, and repair budgets. You will easily see which properties are good investments and which are not.

TIP! Always get an inspection before buying a house. Sellers can offer to pay for the inspection, but that gives them the right to use a favorable inspector.

Get your business the required certification, once you have decided that real estate investment is for you. This protects you and your future investments. There are possible tax benefits to incorporating your business as well.

Prior to starting your real estate investments, choose a particular submarket to focus on. Some like to flip properties and that may be ideal for you as well. Or, the challenge of rebuilding rehab projects from scratch may be a better choice. Look at your interests and skill set when making a determination.

What You Need To Know About Investing In Real Estate

Devote the time required to manage your business, as well as the time to continue learning everything you can about the field. If you want to make money, you might have to cut something out of your life. To become a better investor, it requires total dedication each day.

TIP! When drafting your business strategy, know that the initial costs will go beyond the selling price of the property. There are closing costs, legal fees, staging costs, and other items that can greatly affect your profits.

When getting into real estate, reputation is very important. You should keep your word and not lie. Your credibility will ensure people will trust you and be loyal to you.

Find an area that you feel comfortable with. It is easier to get into a successful flow with your investing if you are focused on your market segment. Work with a niche you are familiar with, whether you are trying to flip houses, purchase starter home or buy properties that require low down payments.

Location is one of the key factors in any real estate investment. Some other factors like property conditions are able to be changed. Properties which are located in rapidly depreciating areas will almost always result in a bad investment. Always do your research on a property before investing any money.

TIP! If you want to start investing in real estate, think about the amount of time you have available for managing properties. Tenants require time and energy.

As an investor, you have to think realistically about how you are going to divide up your available time. Tenant issues can eat up your schedule. A company that specializes in property management can take this problem off of your hands.

What You Need To Know About Investing In Real Estate

Select places that you know well, and in area that will interest lots of possible clients. This is particularly important, as you can have the most resale value possible. Also, look for easily maintained properties.

Join an online investor group or follow forums and blogs from highly successful investors in real estate. This helps you stay privy to valuable information concerning the real estate market. An online investment group allows you to speak to other investors.

TIP! You must know how to spend your time. Renovating properties may be fun for you, but is doing the work yourself costing you too much money in terms of the investment of time? Or is it better suited to looking for the next great opportunity? If you are able to outsource, do so.

Since you just read a great article with many good real estate investment strategies, you can now begin the process of getting started. You really will not find an investment that offers a higher return. This article has the information to get started.

If you are considering investing in real estate, let’s talk, call today 605-858-0775, or click on the link below to schedule a free no obligation real estate consultation.

Have a Question?

Fields marked with an * are required

Recent Blog Posts

Rapid City homes under 200k

Debunking Mortgage Myths

Is It Really Cheaper To Buy A Home Than To Rent?

Rapid City Homes Under 250k

Homeownership Benefits Aren’t Just Financial

Check out our latest Twitter Post

Tweets by jim_whittaker

Jim Whittaker

Rapid City Real Estate Agent

Jim-Whittaker

Broker Associate

Welcome to Rapid City SD

Contact Info

RE/MAX Advantage
1331 W Omaha St Suite 200
Rapid City, SD 57701

Phone Numbers
Direct: 605-858-0775

Contact Me

Connect With Me

Directions from Rapid City Regional Airport – RAP

Find Me on Facebook

Facebook Pagelike Widget

Directions From South Dakota School Of Mines

Each RE/MAX® Office is Independently Owned and Operated. Equal Housing Opportunity. It is illegal to discriminate against any person because of race, color, religion, gender, handicap, familial status, or national origin.
engageRE is a trademark of real.leads Inc. All other trademarks are the property of their respective owners.
Site Powered by engageRE | © 2019 real.leads, inc. | Select images used with permission - © Can Stock Photo | WordPress Access | Agent Portal