10 Tips on Investing in Real Estate
By: Diane Tuman, Zillow Content Manager | January 16, 2008
Investing in real estate is one of those dreamy aspirations filled with images of extra money flowing from the tap and
finding the ideal renters to occupy your investment. The reality, of course, is that taxes, insurance, and repairs clip your positive cash flow and finding honest and trustworthy renters is like being a 40-year-old trying to find their “life companion:” all the good ones are already taken.
Which brings us to today’s Wiki Wednesday feature article, “Ten Tips to Successful Real Estate Investing,” by Kenneth Rosa, a real estate agent with Realty Associates Florida Properties. Kenneth succinctly lists 10 important tips to take into account in case you want to take the plunge into real estate investing. The article just grazes the surface, but it’s a good start in case you’re thinking about becoming an investor.
I’m sure the house flipping shows on HGTV, A&E and Bravo have unleashed a whole new breed of brave and daring new investors who think, “I can do that.” So, if you want to dip your toe into real estate investing, read Kenneth’s tips.
And tip #11: Don’t quit your day job– at least not yet.
- Stumble it!
- Categories: Real Estate, Wiki Wednesdays, Zillow
Comments
11 Comments so far
Enjoy this post? Subscribe to the Zillow Blog feed or get updates via e-mail
steveb on January 17, 2008 12:07 pm
Am about to get into real estate investing.With all the foreclosures going on and babybommers selling more than there is enough buyers. I was wondering if that will have a negative effect in the future of real estate.
Minnesota & Wisconsin Lake Property on January 17, 2008 5:30 pm
I have read these tips and fnd tem really useful specially for people who are at entery level in this business
Diane Tuman on January 17, 2008 8:38 pm
Steve: Unfortunately, I think the subprime fallout will provide a lot of opportunities for aggressive, hungry investors. There will be lots of homes that owners can no longer pay for, so it is definitely a buyer’s market.
Hojin Chang on January 17, 2008 9:39 pm
We all need to keep in mind that real estate investing is a long term investment and the days of flipping houses are largely gone. The surplus supply of homes and worsening credit market will ensure that market of 2004-2005 will not be around for quite some time.
Eva Erdmann on January 19, 2008 9:31 am
People who would like to get into real estate market should do a little bit more research and learning about the business before they start harassing anyone in their own house and on their own yard.They can’t just jump right in some shady deal not even knowing who, what,where,and how.
I became a victim of such a craziness where all neighbours would decide behind my back,that they will sell my house cause they wanted to make some money on the side for their friends who worked in real estate and will share commissions with them.They didn’t even check that my property is a business as well.After all I’m a “snoody bitch” in their oppinion and my style is not like theirs,so they made me leave.It will cost them a lot of money!One can’t just apologize for something like that.Practices of this kind should be forbiden.
Vanessa on January 19, 2008 7:27 pm
The Get rich quick schemes that gurus are talking about take time, hard work, sacrifice, guts and LUCK. Im a landlord and its not easy.
Flip This House, DIY shows make it look so easy. They dont show the real store. It’s TV.
There are so many deals in Atlanta right now its hard to keep count. But its not easy
http://www.intownlandlord.com
Real Estate Jim on August 20, 2008 4:35 pm
Speaking of those house flipping shows on TLC and A&E, I’ve noticed that, lately, more and more of the house flippers wind up not being able to sell the house by the end of the show. It just proves that flipping is pretty risky in this market.
InvestWithPassion.com on September 4, 2008 7:09 pm
You are right. HGTV and the flipping shows have unleashed a great deal of investors.
Real estate investors should always be careful because there are many traps and dangerous deals out there.
Oh, got to run….my tenent is calling!
Bookmarks about Tips on October 4, 2008 7:00 am
[...] - bookmarked by 5 members originally found by SasukiU on 2008-09-20 Comment on 10 Tips on Investing in Real Estate by … http://www.zillowblog.com/10-tips-on-investing-in-real-estate/2008/01/#comment-234345 - bookmarked [...]
MJ on December 30, 2008 3:54 pm
If you’ve been listening to the media and naysayers, the economic future could look gloomy. However, I believe that we have to concentrate on the positive and look for ways to be prosperous in the New Year! Real Estate Investing, as you probably know, can be a good route to prosperity. I believe that wholesaling and automating your business is the route to go. Wholesaling is one of the quickest ways to create cash flow for your business and automating as soon as possible allows you to have a ‘business’ vs. a ‘job’. Check out my site from time to time to find investing info and opportunities. Happy 2009!
Cashflow Cindy on January 3, 2009 4:38 pm
This is a great time to buy Real Estate with all of the foreclosures. Never before have we had the wonderful opportunites to purchase Real Estate at such remarkable prices. However, the market is a buyers market so you better plan on being a landlord. The Rental market is growing stronger each day and will continue so for the next 7-8 years. Is time to learn GREAT management Skills or hire a management company. There are many good tenants out there today compared to 2007. 2007 was slim pickings we pretty much took a body if they showed up. However, I then even would not rent to them if there references were bad. It cost more money to put in a bad tenant then leave it vacant and wait for the good tenant to come around.