Real Estate Resources for New Investors

*This post originally appeared on www.michaelmorrow.org.

If you want to be a successful real estate investor, then you have to do your research and build up your knowledge base. With so much information out there, though, you might not be sure where to start. Which resources are worth pursuing and which resources should you avoid? Below are some of the top real estate resources for both new and veteran investors alike. While this isn’t a complete list, it is a great starting point as you walk down the path of real estate investment.

Real Estate Listings

The obvious first step to becoming a real estate investor is actually purchasing a property, and you can’t purchase a property if you don’t know what’s available. Today there are numerous websites that feature local real estate listings. Zillow and Trulia are two of the most popular. Zillow is particularly useful because it gives you access to various helpful statistics that will give you more insight into particular neighborhoods.

Property Assessments

Property assessments are essential to understanding the true value of a property as well as how much of your money will go toward taxes. In many cases this information is online, but it can be difficult to locate. Patriot Properties and Vision Government Solutions are two helpful sites that feature extensive databases of property assessments. State & Local Government on the Net is another resource that can help you find property assessments for a particular area. The site doesn’t actually list the property assessments, but it lists local government websites by their particular topics.

Trends

If you want to be a knowledgeable real estate investor, then you should have some awareness of what’s trendy in home design. Houzz focuses on highlighting the latest trends in home design. The site is a great resource for inspiration. Plus it features a database of local professionals who you can hire to do repairs, interior design, and other services.

Books

One of the best ways to increase your real estate knowledge is to read a book. Here is a list that will help you get started. It features seven of the best books for new investors. One book that’s not on the list that you should still check out is Real Estate Finance & Investments written by William Brueggeman and Jeffrey Fisher. The book is currently in its fourteenth edition, and it’s used in college classrooms around the country. After reading the book, you will definitely feel more comfortable with the entire investment process.

Done For You Real Estate

*This post originally appeared on www.michaelmorrow.org.

Investing in real estate is one of the best decisions you can make with your money. However, there are many hurdles that you will need to jump over in order to get started. One of the biggest hurdles that investors face with real estate is securing enough cash to purchase a rental property. Homeowners know how difficult it can be to accumulate a twenty percent down payment for a home. Saving money for a rental down payment is just the same. While real estate has significantly less risk than other forms of investment, there is still the risk that you can’t find someone to rent your property. Then you would be responsible for paying monthly payments on two properties at the same time. Partnering with others to purchase property is one of the best strategies that first-time real estate investors use.

Done For You Real Estate

Done For You Real Estate (DFYRE) is one organization that removes many of the headaches associated with real estate investment. For example, managing the property itself can be one of the most time-consuming aspects of real estate investment. It’s especially a burden if you have multiple properties and work a full-time job at the same time. DFYRE takes care of this issue as well as many other issues related to real estate investment.

The organization finds the best markets and the best houses for you. Then it does the necessary repairs to get them prepared for renters. Once the houses are ready it does all of the legwork associated with finding renters. Finally, it manages the properties so you don’t have to worry about ongoing repairs or any other related issues. All you have to do as an investor is provide the capital, and DFYRE provides all of the services. Since the organization began in 2007, it has helped investors receive a 20+% return year on year. In particularly hot markets you can expect a conservative income of $3900 per house for each year that you invest in the program. The potential equity growth of 3 – 10% is just a bonus.

Learn More

If the DFYRE system sounds attractive to you, then you should watch this video to learn even more. You can also visit the DFYRE website to download a free kit that has even more information. One of the founders of the organization is named Kris Krohn. He began investing in real estate when he was 23 years old. By the time he turned 26 was able to earn a passive income of six figures. He is very knowledgeable about real estate, and his system helps investors get involved in real estate in a turnkey manner.

Real Estate: Making Money Regardless of the Market’s Direction

*This post originally appeared on www.michaelmorrow.org.

One of the most difficult aspects of investing is dealing with market volatility. However, when it comes to limiting losses there is one asset that stands out above the rest: real estate. The U.S. Census Bureau reports that the price of real estate has increased in a consistent manner since 1940. While the subprime mortgage crisis limited its growth for a couple of years, it recovered relatively quickly and continues to increase in value. Keep reading to learn more about the basics of real estate investing and how you can continue to make money when the market is down.

Why Invest in Real Estate?

The best time to invest in real estate is the present. As stated above, real estate investments have attractive returns over time and some of the lowest volatility compared with other investments. Real estate is a great choice to add diversification to your portfolio. Research shows that during bear markets when stocks are down real estate usually goes up.

Research

One of the most important keys to finding success with real estate is doing your research. Before you purchase any real estate you need to understand which markets will give you the biggest return. If you plan to rent out your property to individual tenants, you should make sure you purchase property in an area that’s attractive to renters. The area around universities is usually the best location to purchase property since student tenants will be available each year.

Decide Your Approach

Do you want to be a landlord, or do you plan to flip properties? There are advantages and disadvantages to each approach, so, again, you will have to do your research. When it comes to flipping properties, you also have some decisions to make. Will you refurbish homes before selling them, or will you search for undervalued homes in growth markets and sell them without making any improvements.

Find a Mentor

If you have never invested in real estate before, you should connect with experienced investors to learn some of the pitfalls to avoid. There is likely a real estate investor club in your area, or you can reach out to individual investors and ask to buy them lunch or dinner. Target investors who are active in the area where you are interested in investing. They’ll be able to provide you with the best insight.

Get Started

The easiest way to get started is to read more about real estate investing. Visit this link to see a list of some of the top real estate books.