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You may hear someone say that you should get into real estate, but truthfully, it isn’t for everyone. While real estate investing can be a lucrative opportunity, if you don’t know what you’re facing, things can quickly get out of hand.

Why Real Estate Investing?

Ultimately, the goal is to invest in something that will give you a return, or profit. In order to be successful, you must understand the logistics and the risk. It’s sort of like Monopoly – you buy properties, improve the land to collect rent, avoid bankruptcy and buy more properties. Just because the concept is simple doesn’t mean that’s how things will flow. The consequences of making bad decisions can be brutal, so being properly prepared is key.

Here are a few tips to get started:

  • Consider real estate investment trusts (REITs)
  • This helps get your feet wet without the physical property. Consider these like mutual funds, but they are companies that own commercial real estate. A common investment in retirement, these usually pay high dividends. If you’re new at this, it’s best sticking to publicly traded REITs, which you purchase through a brokerage firm.

  • Rental property
  • Consider buying properties and leasing them. You may also want to consider occupying your property and renting out rooms or units in a multi-unit building. By house hacking, you can purchase a property with up to four units and still qualify for a residential loan.

  • Online platform
  • An online real estate investing platform connects real estate developers to investors who want to finance projects through debt or equity. These usually have monthly or quarterly distributions, but you pay a fee and have a large amount of risk. You may also have to be an accredited investor, but there are alternatives, like RealtyMogul and Fundrise.

  • Flipping properties
  • You’ve heard and seen it on TV. Purchase a property that needs repairs, fix it up and resell it for a profit. Although HGTV and DIY Network may make it look easy, it’s a lot harder than it looks. You don’t know how much the repairs will be, and you’re initially on the hook for paying a mortgage. If you live in the home while fixing it up, that could save some money.

  • Renting rooms
  • Consider this the alternate version of Airbnb. You rent certain parts of your home (a room) and reap the benefits. This way, you don’t have to commit to someone long term and you can control how things work.

    It’s important to go into this with a clear head and complete understanding of your finances and the risk it may take. Having a conversation with a real estate broker and other professionals in the industry can help point you in the right direction. The location of your investments will also play a role in how much money you will have to spend. Take your time and find out everything you need to know to make an informed decision. Good luck!

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    Date: 02/16/2020 Time: 12:00 PM to 2:00 PM  
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    If you receive an offer to purchase from a property buyer and decide to submit a counter-offer, it is important to err on the side of caution. Because if your counter-proposal fails to meet a buyer’s expectations, you risk missing out on the opportunity to sell your house and maximize your home sale earnings.

    When it comes to reviewing an offer to purchase and submitting a counter-proposal, it helps to prepare as much as possible. Fortunately, we’re here to help you perform a full analysis of a homebuying proposal and ensure that you can submit a counter-offer that matches the expectations of both you and a buyer.

    Now, let’s take a look at three tips to help you put together a “fair” counter-proposal to a buyer’s offer to purchase your home.

    1. Use Housing Market Data to Your Advantage

    Take a look at local housing market data – you’ll be glad you did. If you take a data-driven approach to craft a counter-offer, you may be better equipped than ever before to put together a counter-proposal that meets the needs of all parties involved in a property sale.

    Analyze the prices of recently sold houses in your city or town that are similar to your own. Furthermore, find out how long these residences were available before they sold. With this housing market data in hand, you should have no trouble crafting a fair counter-proposal.

    2. Consider the Buyer’s Perspective

    As you examine a buyer’s initial offer to purchase, think about why this individual chose to submit the proposal. Try not to get emotional if you feel the offer is too low; instead, think about how you can work with a buyer to find common ground.

    Oftentimes, it helps to maintain open communication with a buyer. If you put together an counter-proposal that accounts for the buyer’s perspective and keep in touch with this individual, you and a buyer may be able to work together to come to a fair agreement.

    3. Consult with a Real Estate Agent

    If you are unsure about what to propose as part of a counter-offer, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the assistance you need to craft a counter-proposal that may lead to an instant “Yes” from a buyer.

    Usually, a real estate agent will inform you about an offer to purchase your home and provide recommendations and suggestions as you craft a counter-proposal. He or she also will negotiate with a buyer’s agent on your behalf. And if you ever have concerns or questions during the property selling journey, a real estate agent is happy to address them.

    Allocate time and resources as you craft a counter-offer. If you consider the current state of the real estate market and the buyer’s perspective, you could increase your chances of putting together a counter-proposal to close a deal on your home. Perhaps best of all, you can submit a counter-offer that allows both you and a buyer to achieve your respective goals faster than ever before.

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    As a home seller, it is important to make your house a must-have for buyers. Otherwise, your home may linger on the real estate market for an extended period of time. Worst of all, you may struggle to optimize your house sale earnings.

    Ultimately, there are lots of things you can do to make your house an attractive option to dozens of prospective buyers, including:

    1. Upgrade Your Home’s Curb Appeal

    Curb appeal is crucial, particularly for a seller who wants to stir up significant interest in his or her residence. If you allocate time and resources to upgrade your house’s curb appeal, you could help your residence stand out from other available homes.

    It generally won’t take long to improve a house’s curb appeal. In some instances, a seller can mow the lawn, trim the hedges and perform minor lawn care tasks to transform a house’s exterior. Also, it may be beneficial to repair or replace any damaged home siding.

    2. Eliminate Clutter

    If your home is loaded with personal belongings, you may want to remove these items. That way, you can show off the full size of your home to buyers during showings and open house events.

    To cut down on clutter, you can rent a storage unit and use it to hold various personal belongings until your residence sells. In addition, you can always donate any unwanted items to charity, give them to family members or friends or sell them as part of a yard sale.

    3. Enhance Your Home’s Interior

    A neat, tidy home interior can make a world of difference in buyers’ eyes. Thus, if you clean your residence from top to bottom, your house could impress buyers as soon as they walk through the front door.

    Of course, if you need help with upgrading your house’s interior, you can employ a home cleaning company. By shopping around for home cleaning companies in your city or town, you are sure to find a professional cleaning firm that offers the right combination of affordability and convenience.

    As you get set to navigate the home selling journey, don’t forget to hire a real estate agent, either. If you have a real estate agent at your side, you can receive plenty of support as you try to generate buyers’ interest in your house.

    A real estate agent understands what it takes to promote a house to the right groups of prospective buyers. As such, he or she will craft a custom home selling strategy designed to help you showcase your residence to potential buyers. Plus, a real estate agent will host house showings and keep you up to date with buyer feedback. And if you receive an offer to purchase your home, a real estate agent will help you weigh the pros and cons of accepting this proposal.

    Ready to sell your house? Take advantage of the aforementioned tips, and you can seamlessly navigate the home selling journey.

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