There are many ways to make money from real estate investing. From long-term property ownership of a single-family home to residential/commercial rental property, to fix and flips - how do you know which investment strategy is right for you? Do you know about all of the available real estate investing options? A great real estate investment delivers a great return on your money without much effort.
Ever walk into a new home and wonder, who thought this was a good idea? Green shag carpet, everywhere! (Read more to see picture proof, we're not kidding.) From structure to design, there's a lot that goes into building, or even fixing and flipping, a home. This is a big investment, possibly one of the biggest in your life! One you can't be passive towards. Everyone wants to see quick returns on investment, but you won't get there without putting forth the time and effort. So take it from some seasoned real estate investing pros, advice they wish they had before their first real estate investment. Hopefully their lessons learned will help make your next real estate journey much smoother...
The first rule of real estate investing, always know what you’re getting into. Whether that’s buying a fix and flip home or vacant land to build on, it’s important to do your homework. Buying vacant land makes the possibilities endless; you could build a custom home to live in or sell, you could sell it to a builder or you could choose to develop it on your own. However, vacant land doesn’t always mean it’s suitable for development. Here are a few things you should know (and consider) before you decide to put your money into it:
Speed matters. It can be the difference between winning the Indy 500, catching tonight's dinner, or making a profit on a real estate fix and flip project. Many real estate investors turn to hard money loans to finance the purchase and renovation of rehab properties, and the need for speed is one of the chief reasons why.
How can you "win the race" in the real estate renovation world?
Over the past year, five Washington area zip codes moved into the top 30 nationwide when it comes to "fix and flip" activity. It seems that trendy young buyers have been eyeing these neighborhoods for some time now, and have pushed them to new heights of desirability. This is a great time to be a real estate investor, independent builder or developer in the DC area.
Without further ado, let's dive in to see what zip codes offer real estate investors the biggest bang for their buck.
Real estate investing is a common practice within Washington, DC, where an estimated 50,528 home sales occurred in 2015. One of the most common ways to invest in DC real estate is to purchase homes that are in need of rehabilitation. Whether it is through extensive repairs or a simple bathroom remodel or two, all investors know that they must calculate the anticipated After Repair Value (ARV) before they embark on a house flipping journey.
Remember the movie Forrest Gump, when Tom Hanks’ character just started running... and running... and never stopped? He continued through the rain, sleet and scorching desert heat. Perhaps we can all discover our own inner "Forrest” and learn when we should start running... and running...from that troublesome real estate transaction before it’s too late! Before we lace up our Nike’s and pull on our all-too-revealing lycra outfits, let’s look at eight reasons to run from a real estate investment property...
Title insurance is an essential component of every real estate transaction because title insurance protects each stakeholder with a guarantee of clear, lien-free ownership. So why do real estate developers sometimes defy conventional wisdom and enter into a short-term loan transaction without a title insurance policy?