Investing In Real Estate, How Do I Get Rich?

Investing In Real Estate, How Do I Get Rich?

Fundamentally, you have three ways to make money when purchasing investment property. The first is to lease the property for an indefinite period at rents that exceed the cost of holding the asset. The second is to purchase the property with the intent of renovating it to substantially increase the value and selling it quickly. The third is to find properties that need to be liquidated quickly at a substantial sacrifice to equity. An investor can acquire these properties and immediately sell them for a substantial profit.

Essentially, these three concepts have made more millionaires than any other type of venture in human history. Having said that, why aren't you creating your wealth with real estate? For many, it is fear; for others it is lack of capital. However, for all, it is merely a lack of understanding. People buy and sell real estate with no money down all of the time, and real estate has always been a much safer investment than the stock market.
So how do you get started?
The first step is always education. Start reading books about real estate investments. Go the book store or library and learn the fundamentals. You don't need to be an expert, but you must understand the process. Find a realtor that works with investment properties and ask questions. Do the same for mortgage brokers and banks. Sit down with a loan officer or mortgage broker and determine how you would finance an investment. Ask questions and find real estate and finance professionals that can help protect your interests as you learn.
The next step? … Find the properties.
With the aid of the real estate professional, determine the best type of investment for your lifestyle, financial position, and risk profile. After you determined best type of property to maximize your return, begin searching for your investment. For this, the internet has become an invaluable, time saving, tool. Search for potential investments at sites like propertykenya.com or Housing Finance of Kenya. In addition, you can look through your local paper, and call on the resources of your network to find the opportunity.
But how do I recognize the opportunity when I find it?
Valuing a potential investment is not as difficult as it may seem. For investors looking to receive a return for charging rents, evaluation software such as IP Ware aids in finding the maximum return on investment. For investors that are looking to renovate and re-sell, comparable values of the surrounding area can be a good foundation. Finally, for those that are looking for people that must sell at a substantial sacrifice, mortgage lenders, tax records, and financing groups can be a significant source of information.
Investing in real estate is a simple process. It is merely a matter of locating a potentially good investment. Determining how to best leverage that investment. Then using your resources and relationships to minimize your risk, and maximize your return. There is a myriad of resources available to beginning real estate investors. Isn't it time you took advantage of the opportunities in real estate and started building your wealth?

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Director,
The Real Estate Investor,

Judy Mbugua.

mbugua.judy2@gmail.com ; judwm@yahoo.com

Real Investment: African Mindset.

Its a pity that most Africans use much of their income to consume- for instance; if an African was given 10,000 USD , he/she would use the money to purchase the newest phone in the market or live in the  house he/she has always dreamt of, or take a vacation, or buy an electronic. On the other hand, if a Briton was given the same amount, he/she would probably invest the money in the stock exchange, in mutual funds or in other financial instruments and consume the income from such investments. Believe you me: am not being a racist, am only stating facts of the things I have observed.

 Let's join this new initiative to educate our fellow Africans on the importance of investing. Invite your friends to join The Real Estate Investor on http://judymbugua.blogspot.com.

Remember: It is not how much you earn that determines how rich you are, it is how you spend your money that will determine your worth.

Till next time,
                        think of possible worthwhile investments.


Director,
The Real Estate Investor,

Judy Mbugua.
+254729016906
mbugua.judy2@gmail.com ; judwm@yahoo.com

Are you thinking about anything?

I like thinking big. If you're going to be thinking anything, you might as well think big.
 Well, real estate is always good, as far as I'm concerned.----Donald Trump.