EVER DREAMT OF OWNING A PIECE OF REAL ESTATE? The thought of Owning Real Estate can seem daunting at first. It almost always does no matter Who You Are or What Your Financial Status is. Just remember to break a deal down into baby steps and chew off one piece at a time: 1. Save up for a down payment (Could be 5%, 10%, 15% or 20%) 2. Locate the property 3. Crunch the numbers on it 4. Write an offer on it 5. Explore outside investor possibilities 6. Get a property inspection 7. Secure financing 8. Get a lawyer involved. 9. Close the deal 10. Get good tenants 11. Add value to the property 12. Keep it in good shape 13. Keep your tenant(s) happy 14. Do it again!!! As you move down the line of things to do your priorities will change. Just keep in mind where you are in the process and chip away at it. I promise that you will grow as a person for having done it. You will also realize, once you’ve got one under your belt, that it wasn’t that hard after all. And that’s when the REAL real estate INVESTOR in you will come to life because you’ll have the confidence necessary to do it again, and again, and again. They say that owning a home will be the biggest investment of your life. I don’t think they are giving you enough credit. I believe that we are all capable of much bigger investments than just one property. Having said that, owning one property is a great place to start and this should be your first goal. And maybe that’s as far as you’ll ever take it. And if so, that’s okay, too. The point here is to at least put yourself in a position where you can begin Real Estate Investing. It is entirely up to you whether or not you decide to take it. Good luck!
Posted on: Sat, 15 Jun 2013 21:28:36 +0000