real estate investing mentor

You think there's great big secret when it comes to real estate that nobody wants to say? Maybe you have thought it would be great to make some money with real estate, but you know nothing about how to start? Maybe you were like me and buy all the real estate courses known to man, read every book, listened to each tape, went to every seminar, only to find themselves more confused than ever and still not know the step you need to take to start and really succeed as real estate investor. Well, let me share some of my own personal advice to you, things that I have not had in a seminar, book or tape. Things learned after he jumped into and started doing it.

The first advice is not as hard as you may think. Some people think they need know everything first. The fact is that you do not need to read every book and tape out there, just need to get started. I learned more once I was in the business than any book or program out there could have taught me. Its obviously useful to have a mentor who walks the walk and has been where you are looking for to go, but that the biggest obstacle is the beginning and decide to do it!

The second advice is that you do not need a lot of money to below to start. Many new investors use a hard money loan for its first deal. A hard money lender will lend up to 65-75% of the value after repair the finished project, using the house as collateral. After buying the house, you can then rehabilitation, refinancing and maintaining long-term flow cash, which is rich in long-term strategy of building. You can also sell or lease option at that point. You can even take the property, and then wholesale to another investor. There are many exit strategies. However, you must go to have an exit strategy in mind to avoid getting caught in a short term loan hard money that you can not leave. I always advise my clients to get pre-qualified for financing backend (even before they get the hard money lending), so sure that a loan used to jam in the face that will eat up all their benefits if they can not refinance it when the time comes.

Once you have the benefit of his first business, you can make an exchange of 1031, to defer taxes and of course the purchase of your next production nonprofit ownership. What a great cycle of making money! Would not you agree?

My suggestion third and one of the best advice I can give on investment real estate is never, never pay too much for an investment property. I like to keep my purchase price less 65% After Repair Value (ARV). Values can always check with your realtor, but I also like to double check with an appraiser values of trust, especially when you are trying to identify the ARV of a property is. Although, I would never buy a property of only the control line values, can use many services different online to check the values. My favorite is www.cyberhomes.com which is a free service.

There really is no magic secrets in investing in real estate success! Everything is in the numbers and the numbers do not lie! The fund, you buy right and you win! You buy badly and lost. It's that simple!

About the Author:

Charrissa Cawley offers accurate and proven real estate strategies and motivational coaching to investors of all different levels. Cawley offers accurate and proven real estate strategies to investors of all different levels. For more Free Information, visit
www.REIconferences.com/freecourse.htm or visit Charrissa’s Inner Circle Community at www.RewexClub.com

Article Source: ArticlesBase.com – Real Estate Investing Revealed

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