Your Questions About Investing In Real Estate

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Paul asks…

Is Investing in Real estate investment trusts a Good idea?

Though I do a fair amount of reading of the real estate market, I must admit that I don’t keep in touch with domains such as real estate investment trusts. I understand the REITs (as they are called) could be a very useful addition to one’s portfolio, especially for those folks who wish to invest in real estate but are not actually keen on owning a house or real estate! What are the views of the members?

Justin answers:

Better invest in small pieces of lands outskirts which in turn appreciate more than any other forms. Even the Real Estate company shares also likely to fall.

Daniel asks…

What are the top 3 most important steps to get started in Real Estate investing?

I’m interested in creating positive, consistent cash flow from real estate. As someone completely new at real estate (beyond owning my own home), what are the most important steps I should take to get started and succeed in the Ohio region? I’m particularly interested in rental property and house flipping. Looking for advice from experienced investors. 🙂

Justin answers:

1. Finding the right properties below current market values and as you locate this / theses properties have an idea of what it will cost you to rehab ( fix up ) these properties

2. Finding a lender that meet and exceed your needs (if you are going to flip these properties it would be best to find a true hard money lender to finance these or if you are going to hold these properties find a local lender that you can build a strong relationship with) Either way the most important thing when it comes to financing investment properties is to have a very good working relationship with your lender(s)

3. Advertise your property. Determine what you are going to do with these properties and advertise them accordingly. If you are going to owner finance them then make sure to put that in your advertisement. If you are going to retail them on the open market then find a realtor that will list them on the MLS for a flat fee to keep your cost down. If your going to flip them to another investor then the best thing to do is check and see if there is a local real estate investors association that you can join and check out yahoo groups for real estate investors groups. Make you some points of contact for flipping houses to other investors and find out what it is that they are looking for just in case you run across that very thing that they want. CH CHING$$$$$

email me at uspropsc@yahoo.com and I can send you plenty of links to some of the best real estate investors groups on yahoo

John asks…

What is the first thing you need to know about investing in real estate?

i want to invest in real estate, what are the first things i need to do/have to get on my feet with it?

Justin answers:

The 3 most important things in buying real estate are: Location, location and location. It is the mantra of real estate investing. Real Estate appreciates much better in an area where there will be growth in housing and business. Older areas that are going decline may look cheap, but could get cheaper as time goes by.

Mark asks…

Why do other people want me to become rich investing in real estate?

What’s in it for them, except selling their book, system, or product? Isn’t having more real estate agents in a market just more competition for the existing realtors?

Justin answers:

You aren’t going to be competing, you are just falling for a scam.

William asks…

Drawbacks of using debt when investing in real estate?

I have friends that tell me that they are making a lot of money by using leverage in real estate.
They say that it magnifies their profits while reducing their risks.
What are the drawbacks of using debt to invest in rental properties?

Justin answers:

Declining real estate values. Tenants who don’t pay.

Joseph asks…

Whats a good way to start investing in real estate for a first time investor?

Hi, I have an interest in real estate and one day wish to own property to give up for rent. As for right now, its my first time investing (real estate. Where/how do i begin?? oh, and i have about $63,000 and want to invest part of it. where would i start?

Justin answers:

The courthouse sells repo homes.

Chris asks…

What is the best way to learn how to invest in real estate?

I would like to learn how to invest in real estate without getting taken. I’m just looking to see if there is a way to get started with limited risk.

Justin answers:

Get with your local Real Esate Investment Assocation ( http://www.reia.com ) start educating yourself. There are many good programs out there and there are many bad ones as well. There are so many ways of investing in real estate, ie, do you want to do flipping? Buy and hold? Tax liens? The list just goes on and on

-Angela
http://www.ratraceclub.com

David asks…

How to invest in real estate with no money down?

I am looking to get a little more infomation on investing in real estate. I have talked to people who buy houses with no money down and end up getting cash at closing? Is it legall ? Are there websites to get solid concrete advise? I want to verify everything these people are saying. I would like to buy a property for rental purposes. Any suggestions or ideas?

Justin answers:

Yes its possible. I will tell you one way to do it, but there are many ways. One way is to find a house that some seller is desperate to get rid of. A house that needs repairs and the seller has no money to fix it or doesnt want to fix it. The house needs to be far below market value. For instance. Lets say houses are selling for 120k in a specific area. Then you find a house with weeds all over the place, needs lots of paint, maybe there are a few broken windows with boards on it. Seller only want 40k for the house because it needs so much repair. You go to whats called a “Hard money lender” This guy will loan you 65 to 70% of the after repaired value at super high interest rates like 15% interest and 6 to 8 points. So you get a loan for 78k, pay the seller his 40k and now you got 38k in your pocket to fix the house up.

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