Friday, 13 September 2013

HOW TO ACQUIRE PROPERTY WITHOUT RISK




There are a number of ways to acquire property without risk. We



list a number of the most important:





* Restrict the size of the investment and the amount of



indebtedness.





* Sell at a profit a part of what you have purchased.





* Buy only such property as you are willing and able to hold for



an indefinite period.





* Make an estimate of gain or loss probabilities before you buy.





* Withstand all pressure of people who try to induce you to sell



at a loss.





* Increase desirability of the property before you sell.





* Observe the effects of local improvements, movements and



activity. Develop ability to buy Real Estate with the greatest



potential for the future. The successful buyers of Real Estate



have a good knowledge of facts and laws, learned under a great



variety of circumstances. They realize the importance of making



investigations. They know economics and business conditions



locally and nationally. They study trends, growth areas and



property utilization. They have a correct idea of their own



personal finance limitations. They have a high degree of



interest, judgement and imagination.





* Adaptability, fortitude and a high degree of resourcefulness



are other attributes to successful Real Estate investing. Desire



for ownership and not being adverse to going into debt are very



important.





* If a property appears to be greatly under priced never quibble



over price. List all the significant advantages and disadvantages



of each property. There should be some reasonably outstanding



features that will generate enthusiasm. Decide to buy on the



merits of the property, not because someone is suggestive. If you



lose a good deal, a better one will come along. Resist



speculation fervor.





* If you are buying a property to hold for a long time, compute



the taxes, interest, insurance, etc. You will have to pay while



it is in your possession.





* Realize that when the market is good and the price is rising



you can always buy, but when the market is going down it is



difficult to sell. Don't sell too quickly and do not over-extend



yourself.







* Realize that increasing value of improved (homes buildings,



etc) result mainly from increasing population.





* if you are interested in making money investing in REal Estate



foreclosures, the best way to succeed is to develop a financial



plan based on your tax bracket so that you will know when to sell



off which properties and when to keep them for future increase in



value. You will need to recognize when there is "concealed"



equity in a property which is not visible to other investors.



Look for homes from 5 to 20 years old with potential net profits



of no less than $4,000 when you convert them.





* Know the laws in your state pertaining to the foreclosure



process. Look over all the small print in contracts. Most of them



favor the seller. If you are the buyer, have the contract changed



to fit your requirements.





* Be careful at auctions so that you don't get carried away with



the bidding; determine in advance the top you will go and stay



with it.





* Strive to locate and purchasee distressed property before



foreclosure proceedings start and you can generally assume



conventional loans under the same circumstances as presently



exist.





* When you have purchased the property in a slow Real Estate



market, it is easier to sell since you have probably acquired it



at several thousands below the current market value.





* It can be good policy some of your property and keep some. For



example, if you can sell one-half of the property and get mos of



your money back, you will be able to retain the balance for



future enhancement and use the proceeds of that portion sold to



speculate in other properties.





* Speculation is not all profit. As time goes by taxes and



assessments increase; some properties may have to be sold to pay



for such increases.





* The greatest deterrent to a person buying Real Estate is the



fear of making a mistake. Of course a person can't afford to make



many mistakes in Real Estate speculation just as in any other



kind of business.





* During a period of inflation, land is the best investment.



During a recession or depression, land is the worst investment.



If a recession appears imminent sell, even if on a contract for



a reasonable dow payment and monthly payment on the balance. You



will have an income and also have the property as collateral. You



can be sure that as long as general economic conditions are



good, the value of well selected Real Estate will increase.







* Populations increase by birth rate and by influx. Check to



determine the past circumstances of the local economy, the demand



for public services and the future growth potential. The fact



that a city has increased in population is not significant in



itself. Perhaps there has been an annexation of adjacent areas.





Yes! By comparing, learning and using good common sense you can



profit in Real Estate regardless of recession, depression,



interest rates, or inflation!...And without excessive risk!

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