Being a real estate investor takes a lot of know-how – there are loads of things you need to be familiar with, including ROI, Cash-on-Cash Returns, CAP Rates, Rent Multipliers, and NOI. You must know about the different dynamics in the market from a statistical and investment viewpoint and have the right connections to get the best deals.
If you are thinking about investing in real estate property, you should start with having a couple of things:
1. Investment capital or a legitimate means of attaining some without putting yourself in debt.
2. A good knowledge of the real estate markets and the neighborhoods.
3. Good management, people and negotiating skills
4. The ability to do repair work or access to people who can do it for you.
5. Contacts in the construction trade.
The first rule of real estate investing, even before location, is to be very careful with whom you are dealing. Go to local town board meetings, do research in libraries and go on the Internet to find out as much as possible not only about the location today, but also about plans for the area over the coming years.
Make sure you have the right partners – the rest of the team is vital to your success.
If you need some more information and advice, Endeavor Realty is located at 5 48 South Lake Avenue. You can all (626) 255-4266 or visit www.endeavorrealty.com for more details.
