So you’ve watched the Apprentice, and have seen Donald Trump parading around New York with his name on some of the best buildings and skyscrapers in town. You keep hearing that he’s a millionaire because he invested in real estate, but you have no idea how a man with hair like that could be one of the wealthiest men in the world just from buying property--- right? Believe it or not, the purchase of real estate is a unique form of empowerment that anyone can master. Here are some quick things to remember when looking to invest:
1. Determine your purchasing power.
2. Change the way you think about purchasing. (Are you looking at cosmetics, instead of the bottom line?
3. Research & develop your bottom line financial goals (by dollar amount, rate of return, etc.)
4. Determine your exit strategy, how long do you want the property?
5. Don’t expect to get something for nothing!
6. Be open to new ideas.
7. Who will be the landlord? Are you ready to manage tenants?
8. Look for ways to improve your investment that will increase value.
9. Don’t be afraid to ask for help. A Realtor, an attorney, a seasoned pro will all come in handy.
10. Be aware of policy and requirements (licensing, permits, etc.) that need to be met before buying to rehab or repair and resell.
1. Determine your purchasing power.
2. Change the way you think about purchasing. (Are you looking at cosmetics, instead of the bottom line?
3. Research & develop your bottom line financial goals (by dollar amount, rate of return, etc.)
4. Determine your exit strategy, how long do you want the property?
5. Don’t expect to get something for nothing!
6. Be open to new ideas.
7. Who will be the landlord? Are you ready to manage tenants?
8. Look for ways to improve your investment that will increase value.
9. Don’t be afraid to ask for help. A Realtor, an attorney, a seasoned pro will all come in handy.
10. Be aware of policy and requirements (licensing, permits, etc.) that need to be met before buying to rehab or repair and resell.
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