The sooner you begin to invest in real estate, the sooner you will see rewards, with tennants, and eventually resale at a higher price than you paid. Gary Keller's bestselling book - The Millionaire Real Estate Investor addresses proven and tested investing models, and strategies and tools to begin building your own real estate portfolio. Call Judy Wickham, of Keller Williams, at 512-589-4150, or email judywickham@austin.rr.com for more info about Millionaire Real Estate Investing.
Real estate investing may seem complicated and overwhelming, but understanding the basics and the steps involved can lead to substantial gains in your investment portfolio.
First, there are some common “mythunderstandings” (part myth and part misunderstanding) of real estate investing, such as that it is too complicated, too risky, that one can’t time the market, or that all the best investments are taken. These can be understood and overcome as you learn and apply the best principles of real estate investing.
Here are a few key concepts. It requires time to look at properties and evaluate them, the capacity to purchase or finance properties, and a network of others to find investments, finance, repair and maintain them. According to The Millionaire Real Estate Investor by Gary Keller, the three major areas of consideration when deciding to invest in real estate are:
- Criteria – What you buy. Single family or multi-family? Masonry or stucco? Work required for updating for resale or rental? And most importantly – what location? Your criteria narrow the choices to represent the greatest opportunity with the least risk.
- Terms – How you buy it. Terms are a negotiable aspect of your purchase including offer price, down payment, interest rate, occupancy and closing costs. It’s about how much money you need to acquire a property and close the deal, related to how much the property will yield over time. Terms are about leveraging your money and maximizing its financial value.
- Network – Who helps you. These include people who help you find investment opportunities; people who help you buy and maintain properties, and those who provide services to help you accomplish your goals. Real estate agents, contractors, property managers, accountants, etc. can all help you in your investing, and can give you additional assistance
Judy Wickham can help you realize your potential in real estate investing in this buyer's market. Keller’s book is an excellent first step in understanding the benefits as well as the actions required when investing in real estate, and provides a reference point for the details of investing. Additionally, it contains graphs, charts, and worksheets to help you put plans and goals on paper and see the facts objectively.
