Real Estate Investing - Ten Myths

Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the “right” people? Let’s answer by looking at some of the myths of real estate.

1. Real estate investing is for the wealthy. Money helps, but my first real estate investment was a $3,500 lot - which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment - these are some of the ways to start with a little and invest in real estate.

2. “0 down” isn’t possible. I sold a rental property for $1,000 down because I trusted the buyer to make the payments, and I wanted the 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a “0-down” deal. “No money down” means none of YOUR money down, and yes, it happens.

3. “0 down” is the best way. If you don’t invest some of your own money, you’ll have higher payments. You’ll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation - I do). There are 0-down deals out there - they just aren’t always worth doing.

3. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learn the numbers, and you can start where you are.

4. Some investors have a “knack” for making money. Sort of. More accurately, some just took the time and risk to learn the market and continue their education.

5. You need to know the “right” people. It helps, so start the process. Talk to investors, real estate agents, landlords, etc.

6. You have to be great negotiator. If you learn to run the numbers and make the offers based on them, you can be the worst negotiator and still do okay.

8. You need insider knowledge. Understand one deal, and you are on your way. Read and read more, but the best “insider” knowledge comes from experience.

9. Fixer-uppers are safe. People have the idea that doing the work themselves is the safest way to assure a profit. Not true. Mis-planned “fix and flips” have bankrupted even experienced investors. Most poorly purchased rental properties will only eat a little money every month.

10. The key is lowball offers. The numbers have to work, and you need a plan. You can offer MORE than the market price and make money investing in real estate, if you understand creative financing - and how to do the math.

About the author:

Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

Real Estate Investing: Buy To Rent, No Money Down

The market for rental houses is as strong as the demand for new homes. Why not have your cake and eat it too through buying to rent!
With home sales at a record high, it might surprise you to know there is an equally strong market for rental properties. A constantly moving population of business professionals and financial over extension in the 1990s are the primary reasons why an ever-increasing number of people will be renting suitable properties instead of buying a home this year. This is great news for real estate investors!

The robust house rental market is allowing smart investors to have their cake and eat it too. Instead of buying a home, fixing it up and trying to flip it for a profit, real estate investors can turn the home into a rental which provides a positive monthly cash flow. And the home is always there to be sold if the need arises.

It varies by region and the typical age of houses in a particular area, but the general rule for purchasing a property thats optimum for becoming a rental is a house less the fifteen years old with easy access to major highways and shopping areas. Homes should never be out in the middle of nowhere and always less then a forty-five minute drive to major business areas. Three bedroom houses that have central air conditioning and come with all major appliances (including a washer and dryer) are likely to fetch a higher monthly rent.

Many investors shy away from rentals because theyve heard the horror stories told by landlords who chose the wrong tenants. But that has become the exception to the rule. Most people who need to rent a home have good credit, a solid record of on time rent payment and solid employment. Some are professionals whose job requires frequent relocation. Others have purchased a new home and are waiting for it to be built. In places like Phoenix where I live, a population boom has extended the waiting time to move into a new home.

Finding qualified tenants has become easier with inexpensive credit and background checks. Anyone that wants to rent a house knows a credit and background check is all but mandatory. You can avoid tenant nightmares by refusing to rent to anyone with evictions, bankruptcies or judgments against them. Ironically, people with all those things on their credit report can actually purchase a home to live in or rent out with no money down.

There are a number of ways for anyone to purchase homes, apartment buildings or other properties regardless of credit or employment history. All it takes is the right information and persistence. The lazy need not apply, but the rewards are substantial for those who try.

more at http://billknell.tripod.com/buy/money.html

About the Author

A native New Yorker now living in Arizona, Bill Knell is a forty-something guy with a wealth of knowledge and experience. He’s written hundreds of articles on a wide variety of subjects. A popular Speaker, Bill Knell presents seminars on a number of topics that entertain, train and teach. A popular radio and television show Guest, you’ve heard Bill on thousands of top-rated shows in all formats and seen him on local, national and international television programs.

Real Estate Investing: Buy To Rent, No Money Down

The market for rental houses is as strong as the demand for new homes. Why not have your cake and eat it too through buying to rent!
With home sales at a record high, it might surprise you to know there is an equally strong market for rental properties. A constantly moving population of business professionals and financial over extension in the 1990s are the primary reasons why an ever-increasing number of people will be renting suitable properties instead of buying a home this year. This is great news for real estate investors!

The robust house rental market is allowing smart investors to have their cake and eat it too. Instead of buying a home, fixing it up and trying to flip it for a profit, real estate investors can turn the home into a rental which provides a positive monthly cash flow. And the home is always there to be sold if the need arises.

It varies by region and the typical age of houses in a particular area, but the general rule for purchasing a property thats optimum for becoming a rental is a house less the fifteen years old with easy access to major highways and shopping areas. Homes should never be out in the middle of nowhere and always less then a forty-five minute drive to major business areas. Three bedroom houses that have central air conditioning and come with all major appliances (including a washer and dryer) are likely to fetch a higher monthly rent.

Many investors shy away from rentals because theyve heard the horror stories told by landlords who chose the wrong tenants. But that has become the exception to the rule. Most people who need to rent a home have good credit, a solid record of on time rent payment and solid employment. Some are professionals whose job requires frequent relocation. Others have purchased a new home and are waiting for it to be built. In places like Phoenix where I live, a population boom has extended the waiting time to move into a new home.

Finding qualified tenants has become easier with inexpensive credit and background checks. Anyone that wants to rent a house knows a credit and background check is all but mandatory. You can avoid tenant nightmares by refusing to rent to anyone with evictions, bankruptcies or judgments against them. Ironically, people with all those things on their credit report can actually purchase a home to live in or rent out with no money down.

There are a number of ways for anyone to purchase homes, apartment buildings or other properties regardless of credit or employment history. All it takes is the right information and persistence. The lazy need not apply, but the rewards are substantial for those who try.

more at http://billknell.tripod.com/buy/money.html

About the Author

A native New Yorker now living in Arizona, Bill Knell is a forty-something guy with a wealth of knowledge and experience. He’s written hundreds of articles on a wide variety of subjects. A popular Speaker, Bill Knell presents seminars on a number of topics that entertain, train and teach. A popular radio and television show Guest, you’ve heard Bill on thousands of top-rated shows in all formats and seen him on local, national and international television programs.

Real Estate Investing - Ten Myths

Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the “right” people? Let’s answer by looking at some of the myths of real estate.

1. Real estate investing is for the wealthy. Money helps, but my first real estate investment was a $3,500 lot - which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment - these are some of the ways to start with a little and invest in real estate.

2. “0 down” isn’t possible. I sold a rental property for $1,000 down because I trusted the buyer to make the payments, and I wanted the 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a “0-down” deal. “No money down” means none of YOUR money down, and yes, it happens.

3. “0 down” is the best way. If you don’t invest some of your own money, you’ll have higher payments. You’ll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation - I do). There are 0-down deals out there - they just aren’t always worth doing.

3. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learn the numbers, and you can start where you are.

4. Some investors have a “knack” for making money. Sort of. More accurately, some just took the time and risk to learn the market and continue their education.

5. You need to know the “right” people. It helps, so start the process. Talk to investors, real estate agents, landlords, etc.

6. You have to be great negotiator. If you learn to run the numbers and make the offers based on them, you can be the worst negotiator and still do okay.

8. You need insider knowledge. Understand one deal, and you are on your way. Read and read more, but the best “insider” knowledge comes from experience.

9. Fixer-uppers are safe. People have the idea that doing the work themselves is the safest way to assure a profit. Not true. Mis-planned “fix and flips” have bankrupted even experienced investors. Most poorly purchased rental properties will only eat a little money every month.

10. The key is lowball offers. The numbers have to work, and you need a plan. You can offer MORE than the market price and make money investing in real estate, if you understand creative financing - and how to do the math.

About the author:

Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

Real Estate Investing - Ten Myths

Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the “right” people? Let’s answer by looking at some of the myths of real estate.

1. Real estate investing is for the wealthy. Money helps, but my first real estate investment was a $3,500 lot - which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment - these are some of the ways to start with a little and invest in real estate.

2. “0 down” isn’t possible. I sold a rental property for $1,000 down because I trusted the buyer to make the payments, and I wanted the 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a “0-down” deal. “No money down” means none of YOUR money down, and yes, it happens.

3. “0 down” is the best way. If you don’t invest some of your own money, you’ll have higher payments. You’ll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation - I do). There are 0-down deals out there - they just aren’t always worth doing.

3. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learn the numbers, and you can start where you are.

4. Some investors have a “knack” for making money. Sort of. More accurately, some just took the time and risk to learn the market and continue their education.

5. You need to know the “right” people. It helps, so start the process. Talk to investors, real estate agents, landlords, etc.

6. You have to be great negotiator. If you learn to run the numbers and make the offers based on them, you can be the worst negotiator and still do okay.

8. You need insider knowledge. Understand one deal, and you are on your way. Read and read more, but the best “insider” knowledge comes from experience.

9. Fixer-uppers are safe. People have the idea that doing the work themselves is the safest way to assure a profit. Not true. Mis-planned “fix and flips” have bankrupted even experienced investors. Most poorly purchased rental properties will only eat a little money every month.

10. The key is lowball offers. The numbers have to work, and you need a plan. You can offer MORE than the market price and make money investing in real estate, if you understand creative financing - and how to do the math.

About the author:

Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

Real Estate Investing - Ten Myths

Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the “right” people? Let’s answer by looking at some of the myths of real estate.

1. Real estate investing is for the wealthy. Money helps, but my first real estate investment was a $3,500 lot - which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment - these are some of the ways to start with a little and invest in real estate.

2. “0 down” isn’t possible. I sold a rental property for $1,000 down because I trusted the buyer to make the payments, and I wanted the 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a “0-down” deal. “No money down” means none of YOUR money down, and yes, it happens.

3. “0 down” is the best way. If you don’t invest some of your own money, you’ll have higher payments. You’ll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation - I do). There are 0-down deals out there - they just aren’t always worth doing.

3. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learn the numbers, and you can start where you are.

4. Some investors have a “knack” for making money. Sort of. More accurately, some just took the time and risk to learn the market and continue their education.

5. You need to know the “right” people. It helps, so start the process. Talk to investors, real estate agents, landlords, etc.

6. You have to be great negotiator. If you learn to run the numbers and make the offers based on them, you can be the worst negotiator and still do okay.

8. You need insider knowledge. Understand one deal, and you are on your way. Read and read more, but the best “insider” knowledge comes from experience.

9. Fixer-uppers are safe. People have the idea that doing the work themselves is the safest way to assure a profit. Not true. Mis-planned “fix and flips” have bankrupted even experienced investors. Most poorly purchased rental properties will only eat a little money every month.

10. The key is lowball offers. The numbers have to work, and you need a plan. You can offer MORE than the market price and make money investing in real estate, if you understand creative financing - and how to do the math.

About the author:

Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

Real Estate Investing: Buy To Rent, No Money Down

The market for rental houses is as strong as the demand for new homes. Why not have your cake and eat it too through buying to rent!
With home sales at a record high, it might surprise you to know there is an equally strong market for rental properties. A constantly moving population of business professionals and financial over extension in the 1990s are the primary reasons why an ever-increasing number of people will be renting suitable properties instead of buying a home this year. This is great news for real estate investors!

The robust house rental market is allowing smart investors to have their cake and eat it too. Instead of buying a home, fixing it up and trying to flip it for a profit, real estate investors can turn the home into a rental which provides a positive monthly cash flow. And the home is always there to be sold if the need arises.

It varies by region and the typical age of houses in a particular area, but the general rule for purchasing a property thats optimum for becoming a rental is a house less the fifteen years old with easy access to major highways and shopping areas. Homes should never be out in the middle of nowhere and always less then a forty-five minute drive to major business areas. Three bedroom houses that have central air conditioning and come with all major appliances (including a washer and dryer) are likely to fetch a higher monthly rent.

Many investors shy away from rentals because theyve heard the horror stories told by landlords who chose the wrong tenants. But that has become the exception to the rule. Most people who need to rent a home have good credit, a solid record of on time rent payment and solid employment. Some are professionals whose job requires frequent relocation. Others have purchased a new home and are waiting for it to be built. In places like Phoenix where I live, a population boom has extended the waiting time to move into a new home.

Finding qualified tenants has become easier with inexpensive credit and background checks. Anyone that wants to rent a house knows a credit and background check is all but mandatory. You can avoid tenant nightmares by refusing to rent to anyone with evictions, bankruptcies or judgments against them. Ironically, people with all those things on their credit report can actually purchase a home to live in or rent out with no money down.

There are a number of ways for anyone to purchase homes, apartment buildings or other properties regardless of credit or employment history. All it takes is the right information and persistence. The lazy need not apply, but the rewards are substantial for those who try.

more at http://billknell.tripod.com/buy/money.html

About the Author

A native New Yorker now living in Arizona, Bill Knell is a forty-something guy with a wealth of knowledge and experience. He’s written hundreds of articles on a wide variety of subjects. A popular Speaker, Bill Knell presents seminars on a number of topics that entertain, train and teach. A popular radio and television show Guest, you’ve heard Bill on thousands of top-rated shows in all formats and seen him on local, national and international television programs.

Real Estate Investing: Buy To Rent, No Money Down

The market for rental houses is as strong as the demand for new homes. Why not have your cake and eat it too through buying to rent!
With home sales at a record high, it might surprise you to know there is an equally strong market for rental properties. A constantly moving population of business professionals and financial over extension in the 1990s are the primary reasons why an ever-increasing number of people will be renting suitable properties instead of buying a home this year. This is great news for real estate investors!

The robust house rental market is allowing smart investors to have their cake and eat it too. Instead of buying a home, fixing it up and trying to flip it for a profit, real estate investors can turn the home into a rental which provides a positive monthly cash flow. And the home is always there to be sold if the need arises.

It varies by region and the typical age of houses in a particular area, but the general rule for purchasing a property thats optimum for becoming a rental is a house less the fifteen years old with easy access to major highways and shopping areas. Homes should never be out in the middle of nowhere and always less then a forty-five minute drive to major business areas. Three bedroom houses that have central air conditioning and come with all major appliances (including a washer and dryer) are likely to fetch a higher monthly rent.

Many investors shy away from rentals because theyve heard the horror stories told by landlords who chose the wrong tenants. But that has become the exception to the rule. Most people who need to rent a home have good credit, a solid record of on time rent payment and solid employment. Some are professionals whose job requires frequent relocation. Others have purchased a new home and are waiting for it to be built. In places like Phoenix where I live, a population boom has extended the waiting time to move into a new home.

Finding qualified tenants has become easier with inexpensive credit and background checks. Anyone that wants to rent a house knows a credit and background check is all but mandatory. You can avoid tenant nightmares by refusing to rent to anyone with evictions, bankruptcies or judgments against them. Ironically, people with all those things on their credit report can actually purchase a home to live in or rent out with no money down.

There are a number of ways for anyone to purchase homes, apartment buildings or other properties regardless of credit or employment history. All it takes is the right information and persistence. The lazy need not apply, but the rewards are substantial for those who try.

more at http://billknell.tripod.com/buy/money.html

About the Author

A native New Yorker now living in Arizona, Bill Knell is a forty-something guy with a wealth of knowledge and experience. He’s written hundreds of articles on a wide variety of subjects. A popular Speaker, Bill Knell presents seminars on a number of topics that entertain, train and teach. A popular radio and television show Guest, you’ve heard Bill on thousands of top-rated shows in all formats and seen him on local, national and international television programs.

Real Estate Investing: Buy To Rent, No Money Down

The market for rental houses is as strong as the demand for new homes. Why not have your cake and eat it too through buying to rent!
With home sales at a record high, it might surprise you to know there is an equally strong market for rental properties. A constantly moving population of business professionals and financial over extension in the 1990s are the primary reasons why an ever-increasing number of people will be renting suitable properties instead of buying a home this year. This is great news for real estate investors!

The robust house rental market is allowing smart investors to have their cake and eat it too. Instead of buying a home, fixing it up and trying to flip it for a profit, real estate investors can turn the home into a rental which provides a positive monthly cash flow. And the home is always there to be sold if the need arises.

It varies by region and the typical age of houses in a particular area, but the general rule for purchasing a property thats optimum for becoming a rental is a house less the fifteen years old with easy access to major highways and shopping areas. Homes should never be out in the middle of nowhere and always less then a forty-five minute drive to major business areas. Three bedroom houses that have central air conditioning and come with all major appliances (including a washer and dryer) are likely to fetch a higher monthly rent.

Many investors shy away from rentals because theyve heard the horror stories told by landlords who chose the wrong tenants. But that has become the exception to the rule. Most people who need to rent a home have good credit, a solid record of on time rent payment and solid employment. Some are professionals whose job requires frequent relocation. Others have purchased a new home and are waiting for it to be built. In places like Phoenix where I live, a population boom has extended the waiting time to move into a new home.

Finding qualified tenants has become easier with inexpensive credit and background checks. Anyone that wants to rent a house knows a credit and background check is all but mandatory. You can avoid tenant nightmares by refusing to rent to anyone with evictions, bankruptcies or judgments against them. Ironically, people with all those things on their credit report can actually purchase a home to live in or rent out with no money down.

There are a number of ways for anyone to purchase homes, apartment buildings or other properties regardless of credit or employment history. All it takes is the right information and persistence. The lazy need not apply, but the rewards are substantial for those who try.

more at http://billknell.tripod.com/buy/money.html

About the Author

A native New Yorker now living in Arizona, Bill Knell is a forty-something guy with a wealth of knowledge and experience. He’s written hundreds of articles on a wide variety of subjects. A popular Speaker, Bill Knell presents seminars on a number of topics that entertain, train and teach. A popular radio and television show Guest, you’ve heard Bill on thousands of top-rated shows in all formats and seen him on local, national and international television programs.