Prevent yourself from entering into any transactions that is considered “self dealing”. It is a term used to describe any circumstances wherein an individual who is connected to the company makes use of his power to gain personal benefit from the investment.
If you buy for cash flow and you focus on the fundamentals, the exit will take care of itself, your deal will be financible, and you’ll get your original investment back more quickly-something everyone’s concerned about these days.
Many Californians are moving out of the state and going to Oregon. When this market turns around (which it will by mid 2009, you could even be up a lot more than what I’ve mention before.
If it’s the seller making you the loan (or secondary loan), ask yourself this: Why would the seller allow me to purchase this property without coughing up one penny of my own cash? Unless the seller has a slate loose, chances are that the price you end up paying for the property is inflated and the seller counts the financing as a wind fall.
Here are the innate qualities you should already have before you enroll in an online real estate invesment course, at Trump University or in any other program.
With your REI, you need to know one thing straight, and that is you simply cannot aspire hard cash immediately. You have to wait and watch the market movements and other socio-economic and politico economic factors before selling your property, like a mall or your home. Instead, you can always borrow a sum of money against your property! But! Hey! Do you really want to go for borrowing?
You’re a people person. When working in property investments, you will have to deal with people from all walks of life – contractors, agents, brokers, and lawyers. Being a people person means you’re comfortable with all types of personalities. You’re able to keep an even keel through intense meetings and negotiations.
Option 2 – Private Property Sales. As stated above, you’re saving a lot of money and have complete freedom with regarding to marketing, showing the property, picking your offers and closing on your own terms. You’ll put in the hours and effort, but for the right seller it’s the way to go.