Tuesday, August 15, 2006

Looking to Invest in Real Estate?

Everybody wants to be real estate investor or so it seems. Just the other day a prospective client came in to interview one of our buyer agents to see if they would be a good fit for one another. The prospective client proceeded to tell a very sad tale of how he owned 3 investment properties that he had bought at the same time. All 3 properties needed renovation work and supposedly the contractor he hired failed to show up on time and do the right job. Now many months later he is stuck w/3 vacant peoperties that still aren't ready for occupancy. I've seen too many people get into the investment property business only to fall flat on their faces. Of course, there is plenty of good money to be made in real estate investing, I should know since I've helped quite a few people make quite a lot of money. I learned how to be a real estate investor by doing it myself and making a whole lot of mistakes early on. I no longer make those mistakes and I make sure that my clients don't make them either. The biggest secret to smart investing is to always buy right no matter what type of market you are in. I always say that you should make your money buying not selling. When you sell you will realize your profit but a smart investor knows their numbers going into the deal not the other way around.

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