Real Estate – How To Make Money Renting Property

We all realize the real estate market has been a little “down in the dumps.” But things are looking better than you’d think! Though rock bottom seems unavoidable, we may be moving back up sooner than we thought. We seem to forget that no matter which direction the market is turning, Americans will always need a house to live in! So not to fear, just think long term investments.

If you own property or want to make money in the market today, the way to do it is to rent out property. We have always been a nation of renters. Over the past 50 years, however, we gradually moved towards home ownership. There are still many people, however, who rent and some people who prefer to rent. Home ownership is a responsibility that not everyone wants to take on.

You can make money in the real estate market today by renting out property to others. You can rent out your own home instead of selling it if you are planning on moving, or even purchasing property to rent to people. If you are looking for a rental investment to buy, there has never been a better time. Housing prices are lower than ever as are mortgage rates. You can purchase a home or a condominium to rent to others and also be a long term investment for you.

Be careful if you purchase a condominium unit with the intent of renting that there is nothing in the bylaws that exclude renters. You should also make sure that you do your own market study of the area. How much are other homes or condominiums being rented for each month? You need to find out whether the rent will cover not only the mortgage payment, but also the taxes and insurance.

Do your research carefully before purchasing property to rent to others. This can be an ideal way to make money in real estate today, but you have to make sure that you are familiar with the market as well as the tenant laws. Tenant laws usually favor the tenant, so make sure that you screen any applicants carefully. You should also take a good security deposit, especially if you are renting a single family home out. The security deposit should be returned when the house is vacated and in the order as agreed to in the lease.

If you buy property now, you can take advantage of the low housing prices as well as low lending rates. You can then hold onto the property for several years while renting it to tenants who will, basically, pay your mortgage. When the real estate market moves towards a sellers market, which it eventually will, you can have the property appraised. Chances are that it will be worth a lot more than for what you pay now and by selling, you will get a significant return.

Making money in the real estate market today is not difficult if you are patient and willing to look for the long term investment. Always look to the best locations in which to invest in property as they will tend to grow in value quicker than any other locations.

Copyright 2008 Promotions Unlimited http://www.websitetrafficbuilders.com. All rights reserved. any additions/modifications/hyper-links added to this article will be considered a copyright violation & subject to immediate legal action without further notice.

Bob Schwartz, is a Certified Residential Specialist, San Diego real estate agent with w/over 27 years experience. He has a popular San Diego real estate blog Bob’s other sites are: Downtown San Diego real estate & San Diego real estate agents

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Real Estate Investors Five Easy Rules To Success

Real Estate Investors will come across many “rules” in their businesses. Many of these “rules” are not laws or regulations, though we are definitely faced with many of those as well. But the rules I am speaking to are more “rules of thumb” meaning a broad application of an easily learned or easily applied procedure. What follows are Five Easy to Follow Rules to Successful Real Estate Investing…

Five Easy Rules to Successful Real Estate Investing:

1. Do Your Job
2. Listen
3. Be Honest
4. It is the Deal Not the Outcome
5. Do Not Let Fear Rule Your Life

Being a Real Estate Investor takes a lot of effort. You have to find lots and lots of Motivated Sellers. You have to go look at lots of houses. And you have to make a lot of offers.

Most importantly you have to give your best effort all of the time or you will cheat yourself and anyone else involved.

It takes a good bit of effort just to come up with leads. It takes even more effort to go out and look at properties, make offers and then sell the property.

Point two involves listening and paying attention. It is important to listen to what the seller is saying, and not think about how much money you stand to make. If it is not a win-win transaction the deal will not work.

You have to ask questions to make sure you are on the same page with the other party. There have been many deals that fell through at the last minute because of a miscommunication. This is a big waste of time and money.

Point three is being truthful. You should never mislead anyone when trying to make a deal. A deal based on dishonesty will always come back to haunt you. Your reputation has to be worth more than a few extra dollars.

Real Estate Investors who are dishonest will eventually be out of business. It is that simple. No one will do business with a dishonest person, no matter what type of business it is.

That is the ethics message being pounded home again. I am happy to see that more and more people (and Real Estate Investment Association meetings) are taking the opportunity to discuss ethics in the Real Estate Investment business.

Point four is that every deal does not have to happen. If it does not work for all parties involved then it is not a good deal. Sometimes you just have to walk away if it is not right, regardless of the possible outcome.

If you are attached to the possible outcome you may overlook some very important factors. You may be thinking about the ,000 you are going to make, but if you overlook something you could end up losing money.

Sometimes it is best, though not always easy, to pass on the marginal deals. Often times a great deal is just around the corner. Sometimes it is difficult, especially in the beginning, to not to get caught up in the excitement and begin looking forward to making all of that money. It is normally best to stick to your numbers and remove your emotion.

The fifth rule is to continually conquer your fears. All Real Estate Investors have fears that pop up at different times. The things that we fear are those things we are least familiar with. Do not let fear rule your life. Every successful person has had to overcome any number of fears.

Often times you can overcome your fear by taking action. Are you afraid to make calls because you might be rejected? Then make 50 additional calls until you are comfortable. Are you afraid to make an offer, because you think it will be flatly rejected? Then make 100 offers until the fear is gone.

As you can see the above five easy rules to successful Real Estate Investing can be easily applied whether you are an expert Real Estate Investor or just starting out.

 

How to Login and Retrieve Your Real Estate Investment Software

During the process of purchasing any ProAPOD real estate investment software solution or our mortgage calculator software, you are required to set up your account by submitting your email address and a password of your choice.

This information is used exclusively to create your account so you can later login and retrieve your real estate software solution. We never sell or spam. It is highly recommended that you retain the email address and password you used to create the account because it will be the only way you can login to your account at any future date.

If you subsequently change your email address, be sure to login to your account (using the original email address you entered during your purchase of our software) and revise your email address. Otherwise, if you try to login with your new email address (without making the revision to your account) you will not be permitted to do so.

To login to your account and retrieve your real estate investment software, go to the ProAPOD website at http://www.proapod.com and click “Login” located in the upper right-hand corner.

Understanding Your Real Estate Investor’s Objectives

Each real estate investor looking for an investment has unique investment requirements that surround wealth objectives, financial restraints, and business considerations. These are issues you should understand and discuss with the investor so you are better informed to find investing opportunities that meet those objectives, and maybe not waste time looking for properties outside those objectives.

  1. Wealth maximization requires consideration of solvency, minimum yield expectations, holding period requirements, tax shelter, or profit maximization at some target risk level.
  2. Financial restraints may include the sources and amount of equity, the willingness to incur indebtedness, and the availability of favorable terms of financing.
  3. Business considerations may involve limitations on time or physical ability to manage the investment or perhaps a requirement that the property be located within a certain distance of the investor or his or her other investment real estate.

Real estate investing is subject to variation depending upon both the type of investment possibility, the submarket in which it is located, and the needs of the investor. What we’ve shown you are some common considerations but are not exhaustive. Therefore, the more you understand about the investor’s unique requirements or property attributes, the better you can tailor your search and real estate analysis presentations.

Real Estate Investing – Taking Control Of Your Life

Real Estate Investing is a vehicle that you can use to begin taking control of your life. Many Americans are completely reliant on their jobs to earn a living. This means his or her financial present and future is under the control of someone else. That just does not seem right.

Downsizing and layoffs are at an all time high and job security does not exist. Hundreds of thousands of people have lost their life savings and retirement plans to corporate mismanagement and scandals. In short it is no longer safe to place your future in the hands of a faceless company.

Real Estate Investing offers a safe way to earn extra money, and learn some new skills, which can help you take charge of your financial well-being. You do not have to quit your job; in fact I would not recommend that.

You can learn Real Estate Investing in your spare time and build the skills and knowledge that will eventually allow you to quit your day job.

Even if you have no desire to quit your job, Real Estate Investing can give you a back up income. If you were to lose your job, wouldn’t it be nice to have a way to earn money while looking for a new job? Think of it like a parachute, in case of an emergency.

The only true way to take control of your financial destiny is to build your own business. Of course this is much easier said than done. You must want to do more than simply “have” a business, you must be able to make money with it, or it is useless.

You can not expect to get rich overnight and quit your job the next day. Despite what you hear on TV or read on the Internet, this vary rarely happens.

A successful business requires planning, dedication, motivation, desire, skill and a sound product. These are not things you can magically get overnight.

Everyone is capable of succeeding on their own, but many of us have been programmed by society, our family, friends and others that working for someone else is the only route available. This simply is not true.

Job security disappeared a long time ago. Most companies are only concerned with the bottom line, which means employees are expendable at any time. Do you really want to gamble your future on this type of company? You should, at a very minimum have a back up plan.

Take control of your life. It is not safe to leave your financial well being in the hands of someone else. Building a thriving business is the only way to assure your financial security and take control of your life. You must choose a business that has very little risk, a stable product and the ability to grow.

For many people Real Estate Investing is the perfect business to build (at least consider), as it offers a flexible schedule, a never ending market, no licensing requirements and the opportunity to earn a tremendous amount of money.