Work with independent mortgage brokers

In a study conducted by United Wholesale Mortgage, 90% of real estate agents who worked with an independent mortgage broker would recommend one to their buyers in the future.

Gathering of Eagles

The Gathering of Eagles conference is the Trusted Source, offering brokers, managers and leaders valuable insider industry information on how to run a profitable business.

RealTrending: eXp’s Glenn Sanford

Glenn Sanford, CEO of eXp World holdings, addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Newsletter

The RealTrends monthly newsletter is known as the trusted industry source for information on trends, strategies, analysis, people and news shaping the real estate industry of tomorrow.

6 Best Practices for Investing in Real Estate

Are you ready to invest in your own product—real estate? Here are some best practices that will help you cut down on any losses

1. Check out the property

Check out every detail of the property that you intend investing in, from all legal and statutory standpoints. Never leave anything in abeyance because after you sign on the dotted line and make payment, it becomes your responsibility—not the sellers. You have to ensure that the real estate you intend to invest in has no encumbrances.

2. Invest prudently

We invest to make money, and when we do, we should know how much we could make. So, have your calculator with you and ensure that your investment will bring you the return. Do your research to see where home prices are trending in that area. Also, factor in which improvements you’ll make to boost the value.

3. Determine your cut-off point

Have your cut off point set before you invest. That will tell you whether you can sell the property with either a small ROI (return on investment) or recoup the investment even if the deal turns sour. Deals go sour for many reasons, including market crashes, imprudent investment, and unavoidable external factors. If you set your cut-off point prior to the investment, you would know with enough prudence that you could save your investment.

4. Hold on to appreciation

To expect a good ROI, real estate may need to be held for some time. When it appreciates, you can pick the opportune time to divest it. If you are investing in a long-term plan, then it is imperative that you expect a good return on investment. Of course, real estate could pay for itself if you lease or rent it.

5. Dispose of if needed

If your investment is not a long-term plan, then don’t hold it. If you are able to get a reasonable return on your investment, use the profits to invest in another property.

6. Know your market

Market intelligence is key to getting the most for your investment. Research all that is happening in your local market to find the areas that are trending up.

 About The Author

Jason Hartman is the founder of the Platinum Properties Investor Network, Inc. helping thousands of people to achieve The American Dream of financial freedom by purchasing income property in prudent markets nationwide.

 

 

Most Popular Articles

RealTrending: Tom Ferry reveals top ways for brokers to increase per-agent productivity

Tom Ferry, founder of Tom Ferry International, takes his years of coaching brokers and boils it down to the top things brokers need to do today to increase per-agent productivity, why he thinks some brokerages have rocket-ship growth and how to manage teams.

May 10, 2021 By

Latest Articles

Equity-rich homes outnumber underwater homes 7-to-1

Homeowners continued to see substantial home value and equity growth in the first quarter of 2021 as the real estate market remains pandemic-resistant, with equity-rich homes outnumbering “seriously underwater” ones by seven to one, according to a new report.

May 14, 2021 By