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By Bill Carey
The term flipping in real estate brings up the thoughts of bad and unsavory characters out to steal houses from little old ladies and unsophisticated home owners. The truth is that the thieves and crooks should be in jail. Those of us who make it a part of our business buying and selling property should not be aligned with that same bunch.
Flipping is not a crime!
Buying and selling real estate for profit is normal business here in the U.S.A. Homeowners everyday sell property they purchased with the full and complete understanding that when they sell the property it will be worth more at the sale than it was when they purchased it because of appreciation.
Investors flip houses, commercial property, and land.
On the other hand investors don't wait for appreciation to increase the value they will know how they are going to increase the value before buying the property. They will use their knowledge and skills to bring additional value to the property, by rezoning, subdividing, renovating, bulldozing and building new, buying low and selling high.
New investors can learn the process
Real Estate investment strategies are numerous and some are so convoluted that it would take a book to explain but in every case the same mantra holds true "know your way out, before you go in". A very simple truth of the basic investment strategy is to know what you are going to do with the property before buying it.
Know your market, know your values
Investors must know the marketplace or have access to information that is reliable. They must know the cost or have trusted advisors who are knowledgeable about the costs of repairs, financing, fees of attorneys, engineers, architects, and be able to move fast when the opportunity presents itself.
Understand your role
Investors look for and make deals. Contractors do the construction work, attorneys do the legal work, accountants do the accounting, engineers do the engineering, and Investors do the investing. If you want to be a contractor and make a living wage please do, if you want to make the big bucks be an investor and hire good people to do the other jobs because you are too busy doing yours.
A little short of cash
In the beginning you think you can save money by doing the work your self, that’s far from the truth. The professionals do the work better and faster and cheaper than you ever could. Add it up what opportunities did you miss because you were setting tiles in a bathroom? What big new deal did you not partner on because you were too tired to open your email for three days? What big news did you miss that could have made you an extra $75,000 on an offer you just signed because you were too busy doing someone else's job? You may be a little short of cash but that has more to do with not knowing your way out before you went in.
Bill Carey with over 30 years in real estate sales, investments, and home building offers a unique perspective to the buying and selling process of residential real estate for FREE consumer information and reports log on to http://www.CharlotteNCExecutiveHomes.com and see "Insider Real Estate Secrets Revealed" ...a must-read for Home-Owners and Renters!
It's a FREE 12-lesson e-course covering more than 20 topics exposing the realities behind buying and selling a home. It Could Make(or Save) You Thousands of Dollars
See http://www.BillCareyRealtor.com and sign up for our monthly e-newsletter with tips for buyers, sellers, home owners and soon to be home owners.
Article Source: http://EzineArticles.com/?expert=Bill_Carey
The term flipping in real estate brings up the thoughts of bad and unsavory characters out to steal houses from little old ladies and unsophisticated home owners. The truth is that the thieves and crooks should be in jail. Those of us who make it a part of our business buying and selling property should not be aligned with that same bunch.
Flipping is not a crime!
Buying and selling real estate for profit is normal business here in the U.S.A. Homeowners everyday sell property they purchased with the full and complete understanding that when they sell the property it will be worth more at the sale than it was when they purchased it because of appreciation.
Investors flip houses, commercial property, and land.
On the other hand investors don't wait for appreciation to increase the value they will know how they are going to increase the value before buying the property. They will use their knowledge and skills to bring additional value to the property, by rezoning, subdividing, renovating, bulldozing and building new, buying low and selling high.
New investors can learn the process
Real Estate investment strategies are numerous and some are so convoluted that it would take a book to explain but in every case the same mantra holds true "know your way out, before you go in". A very simple truth of the basic investment strategy is to know what you are going to do with the property before buying it.
Know your market, know your values
Investors must know the marketplace or have access to information that is reliable. They must know the cost or have trusted advisors who are knowledgeable about the costs of repairs, financing, fees of attorneys, engineers, architects, and be able to move fast when the opportunity presents itself.
Understand your role
Investors look for and make deals. Contractors do the construction work, attorneys do the legal work, accountants do the accounting, engineers do the engineering, and Investors do the investing. If you want to be a contractor and make a living wage please do, if you want to make the big bucks be an investor and hire good people to do the other jobs because you are too busy doing yours.
A little short of cash
In the beginning you think you can save money by doing the work your self, that’s far from the truth. The professionals do the work better and faster and cheaper than you ever could. Add it up what opportunities did you miss because you were setting tiles in a bathroom? What big new deal did you not partner on because you were too tired to open your email for three days? What big news did you miss that could have made you an extra $75,000 on an offer you just signed because you were too busy doing someone else's job? You may be a little short of cash but that has more to do with not knowing your way out before you went in.
Bill Carey with over 30 years in real estate sales, investments, and home building offers a unique perspective to the buying and selling process of residential real estate for FREE consumer information and reports log on to http://www.CharlotteNCExecutiveHomes.com and see "Insider Real Estate Secrets Revealed" ...a must-read for Home-Owners and Renters!
It's a FREE 12-lesson e-course covering more than 20 topics exposing the realities behind buying and selling a home. It Could Make(or Save) You Thousands of Dollars
See http://www.BillCareyRealtor.com and sign up for our monthly e-newsletter with tips for buyers, sellers, home owners and soon to be home owners.
Article Source: http://EzineArticles.com/?expert=Bill_Carey
3 Comments:
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Great investment opportunity at Costa Rica Pacific Coast, Preconstruction condos in costa rica ,
Condo sales in costa rica, Retirement property in costa rica. Visit us for more info at: http://www.ramadajaco.com/
The information of this site is really important since it counts on specific details for interested in real estate. The illustration that offers on the life in Costa Rica and its people seems to me very advisable the image of the country and contributes great benefits for the tourism, business that offers many economic advantages for the country. The increase of real estate in Costa Rica during the last years is the test that Costa Rica in one of the destinies more looked for by the foreigners eager to invest in this point of exuberant beauty of flora and fauna. I also count on information referring to the subject.
More information at: http://www.costa-ricarealestate.com
Great investment opportunity at Costa Rica Pacific Coast, Preconstruction condos in costa rica
Condo sales in costa rica, Retirement property in costa rica. Visit us for more info at: http://www.costa-ricarealestate.com/
Costa Rica real estate is measured and priced in metric units. For Americans from the U.S., who are accustomed to measuring homes in square feet, this can be confusing. http://www.enterbet.com Does a 232 sq. meter house sound very big? Well, that’s a 2500 sq. foot house to you and me. If you use approximation, the challenge of figuring out the size of a house, condo, or apartment in Costa Rica, actually becomes quite simple.
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