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Is Real Estate Investing for You?
What is Rehabbing?
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  • Locate and record a newly found distress properties.

  • Find all available information about the property and record it in a database.

  • Make a quick "blueprint" of the different areas in the property like baths, rooms, garage or car port, etc.

  • Prepare an estimate for the required rehab work necessary to take the property price to current market range.

  • Prepare a financial analysis to determine quickly if the deal is worth pursuing.

  • Get in touch with Lenders to arrange financing for the purchase if the deal is adequate.

  • With its own rehab estimate, make arrangements to do the rehab work by him or herself or through sub-contractors.

  • Keep good track of the expenses and purchases during the rehab period.

  • Initiate action to sell, rent or flip the property according to him or her original plan.

  • Sell, rent or flip the property, keep the money in a safe place and get ready to start all over again!
 
 
 
 

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When most of us think of real estate, we think in the old traditional way, buy a home through a real estate agent, pay market price, 20% down, humongous amount of points and closing costs, then rent it to barely cover the mortgage payment and put up with a tenant that will not pay and destroy the property.

How about that for a real estate investment picture?

Now, the good news, "it doesn't have to be that way."

Although real estate is not as liquid as a savings account, when you master your real  estate market by analyzing, learning, and using the techniques and tools to acquire and turn real estate into profit, lot of cash and equity will be the end result.

This Let's Take the "wannabe" Real Estate Investor's Test.

 

Answer the following questions with a "Yes" or "No." These are also decisions that you have to consider:

  • Do you have spare time?

  • Do you think of profit instead of salary?

  • Do you like the idea pf being in business by yourself?

  • Are you highly motivated and a go-getter?

  • Are you a risk taker?
  • Are you a handy person?
  • Are you willing to spend a lot of time looking at properties and getting "down and dirty" at making low-ball offers?
  • Does the whole idea of taking on a handyman's special sound right to you?
  • Are you wiling to learn the basic knowledge required to be a handyman?
  • Can you cope with the stress of managing sub-contractors?

If you answered "Yes" to all 10, you can be welcome to the real estate investing game.

You just earn the prestigious "Wannabe Real Estate Investor Award."

Between 7-9 you are a beginner with potential to become great at real estate investments.

Between 5-6 you like making money, but fixing is too much work, so you may need other simple strategies (such as wholesaling, flipping contract, etc.) Hands on real estate investment may not be for you.

Less that 4, you'd better put your money on CD's and Bonds!

So...

Is Real Estate Investment For You?