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Be a Real Estate Investor - 10 Important Secrets When it comes to investing, everybody has certain goals and aspirations. However, we have found that there are certain guidelines every aspiring real estate investor needs to know: 1. Compare Property Values and Rents Financial statistics only go so far; the best measure of a property's market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a need. 2. Be careful - Tax laws may change Don't base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor. 3. Specialize in something you Know Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties. 4. Know the Costs going in! Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment. 5. Know where your tenants are coming from If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants' security deposits at closing. 6. Assess the tax situation Taxes are an integral part of successful real estate investing, and they often make the difference between a positive cash flow and a negative one. Know the tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor. 7. Investigate insurance coverage If seller's coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price. 8. Confirm Utility Costs Ask the local utilities to verify recent utility expenses, especially if any of these costs are included in your tenant's rent. 9. Consult Your Accountant Taxation is a key element of successful real estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code. 10. Inspect! Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment. Should you be interested in seeing what the Las Vegas area has to offer in investment properties like Bank Owned or REO, HUD, VA or other Foreclosures and the like please feel free to send me an e-mail at Broker@LasVegasBankOwned.com Thank You Thomas Blanchard, Broker Owner 1st Realty Group 702-456-7376 |
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Bank Owned Real Estate & Las Vegas foreclosure homes. MLS multiple listing service data is provided by Interrealty and the Greater Las Vegas Association of Realtors (GLVAR). This covers MLS Las Vegas commercial real estate or
bank owned residential homes in foreclosure in Las Vegas, NV, Henderson, Boulder City, Summerlin, Green Valley and North Las Vegas, NV. MLS listings data is helpful to buy or sell MLS 1031 homes or other
Las Vegas Bank Owned or foreclosure real estate, homes, condos, town homes in Las Vegas, Henderson NV, Boulder City, Summerlin, Green Valley and North Las Vegas Nevada. Home information assists people in 1031 exchange, property, property exchange dealing in MLS real estate and homes and real estate properties in Las Vegas, Henderson, Summerlin, Green Valley, North Las Vegas and Boulder City, NV. Sales can be by Exchangers, exchangers, brokers in MLS real estate for IRC/1031 property exchange or selling a home or condo or town home real estate or vacant land or commercial real estate item. Data helps to locate Las Vegas Bank Owned homes, Henderson Foreclosures, Summerlin foreclosures, Bank Owned Repos, HUD & VA Repos, Las Vegas REO properties, REO Agents, BPO Companies, REO management in Las Vegas, Las Vegas REO and Las Vegas Repo, Las Vegas MLS homes, condos or MLS, or residential real estate other properties
foreclosures in Henderson, Summerlin, Boulder City, North Las Vegas, Green Valley NV. Thomas Blanchard serves these cities as a Broker owner for 1st Real Estate Group real estate clients looking for homes and condos and town homes and custom home lots and Las Vegas high rise condos and property in Las Vegas, Henderson, Summerlin, Green Valley, North Las Vegas, Boulder City, supplying MLS, school and Las Vegas valley community information. Thomas Blanchard, real estate investors, sellers and buyers in Las Vegas, Henderson, Summerlin, Green Valley, North Las Vegas and Boulder City are many. Thomas Blanchard your Las Vegas Real Estate
Foreclosure and Bank Owned specialist in Las Vegas and Henderson NV Real Estate and 1st Realty Group An Independently Owned & Operated Real Estate Company
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