10 Main Steps For Successful Real Estate Investing
June 23, 2011
Follow these steps to accomplish successful investmenting:
- Define a clear goal or goals. If multiple goals – prioritize.
- Build a team: mentor/expert, attorney, CPA, lender, and insurance agent.
- Decide on an investment philosophy: rental property, fix-and-flip, commercial, land, etc.
- Set your financials. Down-payment required, available rates, and if needed get pre-qualified.
- Identify target areas that will help you accomplish your goal/s
- Interview service providers: Realtors, property managers, contractors, etc. Learn from them about the area.
- Have an investment plan: purchase, exit, and contingency methods.
- Identify the property.
- Put an offer and negotiate.
- Purchase and close on the property.