Wednesday, April 15, 2009

Become a Successful Real Estate Investor

A lot of people are interested in finding out whether they can really make money by investing in real estate. Many people dream of becoming real estate investors, but not everyone has what it takes. However, Nouveau Riche Real Estate Investment College can give you the education and knowledge you need to take action and get started in real estate investing the right way the first time. If you're thinking of becoming an investor in real estate to create wealth there are several important questions to consider, long before you buy your first investment property. Nouveau Riche can expand on every aspect that you need to know about investing in real estate.

Here are some common questions that are asked or should be asked when individuals are thinking about getting started in real estate investing.

1) Why would a homeowner sell a house at a bargain price?
Many things happen in people’s lives that make their home suddenly become a burden. Some reasons may be loss of income, divorce, or illness as the most common, but sometimes a homeowner dies, leaving a home that none of their heirs want. In any case, the home has become a problem, which is where you, as an investor, come in. The homeowners, or the heirs, have a problem and you must find a way to offer a solution.

2) What types of houses should you look for?
Besides being owned by someone who no longer wants or can afford to stay in a property, you want to find a home that’s only tired, and not in need of structural work in order to favorably compete with similar houses on the market. We call that type of house a "doghouse."

3) How do you find fixer-uppers?
Your real estate agent can scan the MLS listings, looking for fixer-uppers, handyman specials, or as-is houses. You can also find similar properties yourself, using the local newspaper or shopper.

4) Should you try to close quickly?
This is an important step in becoming successful, because beleaguered sellers will almost always be in need of money in as short a time as possible. Get yourself prequalified and preapproved for a loan, so you can close on the property quickly. Being able to let sellers know they'll get paid fast will consistently net you more houses than your competition.

5) How do you flip houses fast?
Find ugly homes, in good neighborhoods, that need as little work as possible. Clean them up, paint them inside and out, and install a neutral shade of new carpet, and you should be able to flip the home in a short amount of time. Always keep your limitations in mind. Hiring professionals for repairs will cut into your profit margin.

These questions and answers are in their simplest form and should be elaborated upon thoroughly prior to taking your first step in real estate investing. Nouveau Riche can expand on these questions and a whole lot more by expert instructors that have real life experience in the field of real estate investing. And beyond the teaching of strategies and creative ways to invest in real estate, Nouveau Riche will also teach you the understanding of taxes and financial awareness that you need to maximize your profits and long term wealth that you can create when investing in real estate. For more information on the course structure offered through Nouveau Riche click on the following link: http://www.nouveauriche.com/education/curriculum.htm.

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