The Ins and Outs of Real Estate Market Education
The real estate market is starting to boom and real estate market education is on the upswing (especially Fortunebuilders Reviews on YouTube). Look for firms that have been in real estate education business through good times and bad. Check to find out how they rate with past investors and students. When looking for an education look to real estate academies in your local area. For example if you live in Arizona there are sites like Zillow that can give you advice on where you might find the type of education you need. Your local Better Business Bureau can give you a great idea of where to find a real estate market education. Get recommendations from present real estate marketers and agents.
There are certain questions to ask when looking for a real estate marketing education:
1. Make sure they completely cover the laws concerning specific areas you’re looking into. Real estate laws not only change from state to state, but county to county, and even city to city.
2. While you might only be interested in investing you still need to understand real estate development in order to be able to evaluate different land prospects. This means that you should be able to analyze the areas you’re looking into. What is it’s quick profit potential or will it take time and more of an investment then initially required.
3. Does the education site have access to potential market and investment firms that you may use if needed. Just learning the terms means nothing unless you’re given access to networking capability. This should include past alumni who are willing to give you advice when necessary.
If you’re really interested you may want to find a job with a local real estate firm. You won’t necessarily have to get your real estate license. Sometimes they hire employees to collect data, phone calls, and simple filing. You’d be surprised at what you can learn.
Flipping is a great source of income if you know what to look for or have an agent that you have confidence in. Real estate brokers usually aren’t too keen in dealing with a “flipper,” but they are out there if you look. A few years ago it was nothing to buy a house for $125,000 and flip it in a couple of months for $160,000 with no refurbishing. If you could pay cash you made a nice profit by just sitting on the house. Today, flipping is a bit more complicated and the deals are harder to come by. Not many investors can lay cash down and sit on a home and banks aren’t as keen as they used to be for a loan on flipping. While flipping can still be profitable today they usually require some refurbishing before resell. The good news is that interest and mortgage rates are way down and bidding wars have cooled. This means that it’s a buyer’s market. The bad news is that if you plan on flipping you’ll then be the seller dealing with buyers.
In 2013 more investors are looking for rental properties. Single family homes can be a wise investment while multiple family dwellings can cause more problems, but a potential of more income.
No matter what, it’s essential that you have a good understanding of real estate market investing before proceeding.
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