Lucrative Investments For the Real Estate Guru – 5 Steps to Profiting Off Your Real Estate
Real estate is a big money business. Furthermore, anyone with ambition and the right know-how can stand to make a fortune in the real estate market. You just need to know what to do, what to look for and how to apply this knowledge to a lucrative off market immobilien investment.
Read on to discover the step by step guide to making a fortune in the real estate world.
- First off, look for a bargain. The cheapest houses are foreclosure houses. Check the government and bank websites where they have a list of foreclosures in the area, the state and the nation. Then, simply pick and choose which investment(s) look good.
- Next apply for a loan. This can be done online with line-of-credit companies and through peer-to-peer loaning. You may think this is hard to do, but it’s not. You just need to ask.
- Then, get to work with the renovations. You can hire contractors to do all the work for you. Paint the interior and exterior, add an extra bedroom, re-do the bathroom, re-tile the floor. All of these small renos will add up to big bucks in the end.
- Next, hire an appraiser to appraise the house. Find out what your investment is worth and how much you stand to make.
- Finally, either put the place for rent or up for sale. You can easily invest in a 1 bedroom foreclosure house for $20,000, put in $10,000 worth of renovations and add an extra bedroom, and sell the house for well over $150,000. This is over $100,000 in profit. Or, rent it out and make a residual income.
The choice is yours. After all, it’s your investment.
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