Real Estate Investing Secrets. The truth is there are no secrets just hard work.
Real estate investing secrets are a dime a dozen these days. Anyone with half a brain can slap up a website, sell real estate investing products and claim they are a real estate investment guru. In today's desperate real estate market, many unscrupulous people don't blink an eye when it comes to ripping off innocent victims.
In my opinion, the most important real estate investing secret is to obtain information from trusted sources. Just because someone ranks high in the search engines doesn't necessarily mean they are qualified to teach real estate investing techniques. Trusted real estate sources include professionals such as Bruce Norris, CREOnline.com, Trump University, REIClub.com and Realtor.com.
Real estate investing secrets abound when it comes to creative financing. Lots of people are eager to tell you how to purchase a million dollar mansion with no money down or distressed properties for pennies on the dollar. The problem is they want to charge you big money to provide those "insider" real estate secrets that can usually be found online for free. One trusted source for locating creative financing real estate secrets is CREOnline.com.
A large percentage of real estate investors are seeking foreclosures and bank owned properties. While it's true investors can potentially earn a good return on their investment with these types of houses, investors can gain additional profit by buying distressed properties at wholesale prices. The average American investor generally isn't privy to wholesale buying, but savvy investors have been using this trick for years.
With the current influx of foreclosures, banks are sitting on billions of dollars worth of properties. Lending laws have become more stringent. Home sales are dropping every month. In order to liquidate these properties banks sell non-income-producing properties in bulk to private investors and investment groups.
When investors purchase at wholesale, they generally pay approximately 30-percent under current market value. Since they purchase the entire bank portfolio they may have several hundred houses to sell. They then sell properties for 10- to 15- percent above what they paid for it. This creates a win-win situation for both parties involved. The investor gains a decent return on their investment and the buyer purchases a home with instant equity.
Anyone can buy a home from a private investor who specializes in purchasing bank portfolios. Those able to buy homes with cash or obtain pre-qualified financing can take advantage of wholesale deals quickly; oftentimes closing in 30 days or less.
Probate properties and bankruptcies are closely-guarded real estate investing secrets. Tracking down these types of properties requires a bit of detective skills and a trip to the local courthouse, but can yield enormous profits. Few investors are seizing the opportunity to locate exceptional real estate deals by searching court records.
Thousands of real estate investing secrets exist, but not all of them will apply to every type of real estate transaction. Before spending a lot of time hunting for secrets, take time to obtain an education in real estate investing. Next, determine the niche of real estate investments best suited for your financial needs. Once you develop a plan, the real estate investing secrets you require to become successful in your niche will be easier to locate.
Simon Volkov's real estate article library provides a wealth of resources, along with real estate investing secrets. We invite you to peruse our articles and bookmark SimonVolkov.com. We frequently add new articles and hope you will stop by again soon.
Published on August 19, 2008 at 07:51 AM