Purchasing Investment Real Estate 101

INTRODUCTION:

 

     Welcome to Investing 101 a systematic manual to assist you in the purchase of your first of many investment properties.

Investing for over 30 years has taught me many lessons; the most important is "never stop learning."  There are many ways to do the same thing, yet they are all different.  Seek out those ideas that make sense to you and customize them to fit your needs.

     Real Estate investing can be something enjoyable and profitable, but is it right for you.  You are the only person who can answer that question, but I will attempt to guide you to that realization.  You must be willing to deal with people in your business.  I follow the "Golden Rule", but I also tell my tenants that I expect the same from them.  Be firm and decisive, but at all times fair.  Make sure everything is in writing and everyone is on the same page.

     There are ways to get around those late night phone calls, but you must be willing to work at it.  It may be as simple as making sure that all the plumbing lines are new, when a tenant moves in, to writing clauses in your contract that the tenant is responsible for the first $100.00 of any repairs.

     Evictions and bankruptcy are issues you might face, regarding tenants, but they are also manageable.  It is always best to communicate your intentions and negotiate with the client for possession of your property.

     If you are still with me then continue to read on and I will try to make you a successful investor for life.