In a market that has seen double-digit price increases for two years or more, selling a home was easy. Offer the property for sale at or slightly above market value and watch the bids roll in - sometimes within days.
But all markets go through cycles and real estate is no exception. When the market, whether local or larger, begins leveling off it’s possible to find that property Read more
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No one profits from their own ignorance. Thinking ahead is your best guarantee when considering whether to rent a property into the future or to sell for a fixed profit today.
If you want to keep a property in the hope of taking advantage of tax breaks and capital appreciation, but hope to offset the expense, consider both those upsides and some potential downsides to renting.
As the owner of a property you are legally liable for all normal costs of ownership - payment of a mortgage, taxes, insurance, etc. In addition, you will almost certainly be contractually obligated to pay Read more
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Property, like any other good for sale, comes in all conditions. But the average home or real property costs 8-10 times or more the amount of other high ticket items. That’s what makes it an investment rather than merely a purchase. Essential to ensuring it’s a sound one is getting a thorough inspection. Write right into the deal that any offer is contingent on a satisfactory inspection. And what constitutes ’satisfactory’…?
Assuming the property contains wood, first and foremost is a separate termite and pest inspection. Most ‘home inspectors’ don’t check for this, concentrating instead Read more
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Are you interested in the lucrative real estate market? Have you watched the Do-It-Yourselfers on TV who purchase a home, renovate or upgrade, then resell it for a profit of more money than most people make in a year?
It sure is tempting, but what are the pitfalls? What should a new investor know BEFORE putting money into real estate?
There is one mantra that successful real estate investors live by: “buy low Read more
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‘Flipping’, in real estate investing lingo, is nothing more than buying a property and selling it again quickly, hopefully for a healthy profit. It’s not illegal, it isn’t even unethical - it’s just business, and that can be done either way.
The belief that flipping is illegal, sometimes the result of media stories designed more to excite than illuminate, comes from the practice of attempting to deceptively inflate the market value of a property, falsify documents, and/or collude with others to defraud a buyer. That’s definitely unethical and rightly illegal. But that’s not flipping, Read more
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