As the real estate market once again becomes a viable opportunity for investment, Dean Graziosi wants to remind readers of some important tips to remember when trying to buy or sell a piece of real estate.
One of the most important first steps is to get a copy of your credit report and make sure your report does not contain any errors. If it does they should be corrected before you approach a bank to secure a mortgage loan. Check for errors such as charge-offs that were actually paid and department store credit card accounts that show late payments.
Take a look at your current living expenses budget and develop a plan for living within your means. This will certainly help you in securing a mortgage loan.
Carefully consider what real estate office/agent you want to have represent you. It’s important to weed out those agents who only got into the market when it was a strictly buyer’s market. Check the agents/offices track record before making your choice.
When you’re ready to start looking for investment properties it’s ok to think small, initially. You will be purchasing a property that in most cases you’re going to rent out and thus provide you with a steady income. Once you’re adept at being a landlord, you can move on to purchasing more properties.
Remember that the ‘perfect’ property only exists in fiction and fairy tales. So, purchasing a property that is new or fully renovated is a good opportunity and shouldn’t be passed up.
Make sure you consider location when looking for a property to purchase. Dean Graziosi believes that taking on a property in an up and coming area will pay off in the future as you’ll have a piece of real estate that others will be interested in renting.
Always try to find properties that are nearby your residence. It’s best to keep them within a two hour drive. You’ll have an easier time fixing problems and you’ll be able to keep an eye on the property.
Utilizing these tips by Dean Graziosi will help you become a stronger real estate investor and provide you with a steady income for years to come.