Month: February 2018

Real Estate Training for Newbie Investors

Real estate training is an integral part of becoming a successful real estate investor. A wide variety of investment courses are available. Many take place in a classroom setting while others are presented through correspondence courses; allowing education to occur in the comfort and privacy of home.

The majority of real estate training classes focus on buying and selling investment properties. Niche courses can include purchasing commercial real estate such as retail shopping outlets and raw land, investing in residential real estate, or learning how to invest in cash flow real estate notes.

 

Real estate financing and negotiation techniques are popular continuing education courses. These courses teach investors how to obtain the highest dollar for their property holdings. Other popular real estate training courses include real estate law and property management.

 

With the constant flow of bank foreclosures many realtors offer seminars focused on buying distressed real estate. These types of training seminars usually consist of one or two day seminars which teach real estate investors the advantages and disadvantages of buying foreclosed, short sale and bank owned homes.

 

The type of real estate training depends on investment goals. Newbie investors who want to learn how to buy rental homes can usually obtain necessary information through correspondence courses. Investors who want to make real estate investing their career can achieve their goals by enrolling in business and investment courses offered through accredited schools.

 

The Internet is a great place to locate real estate programs and schools. Libraries are another excellent resource for gathering knowledge about the various types of real estate investments. Most libraries provide real estate seminars presented on DVDs at no charge. Although some courses might be outdated, they can contain valuable information and resources for novice real estate investors.

 

It is important to conduct research before paying tuition to attend real estate training seminars. It is easy to publish a website and claim to be an investment professional. Check with the Better Business Bureau to see if complaints have been filed, or check popular scam reporting sites such as Scam.com or RipOffReport.com.

 

Real estate training programs can consist of one- or two-day seminars or as complex as two or more years of educational training. In order to determine what type of education is required, take time to research the various real estate fields. Some of the more popular niches include house flipping, rental properties, property management, real estate agent, mortgage broker and private real estate investor.

 

Talk with other real estate professionals and ask where they obtained their training. Contact local realtors and inquire about courses or seminars they offer or recommend. Review the Classifieds section of local and national newspapers to locate real estate training seminars.

 

Real estate investing offers many opportunities to earn profits. With proper real estate coaching and training, investors can generate income in any market or economic condition.

Determining Property Values when Flipping Real Estate

When you are flipping real estate, one of the hardest and most important things you must do is accurately estimate the value of various properties. You need to be able to look at a property and determine how much it will sell for when it’s fixed up. From that, you can come up with the price you are willing to pay for the property.

Real estate values vary greatly from one area of the country to another, so no Internet article can tell you how much a house is worth. There can even be significant differences in price between two houses that are right across the street from each other.

 

One of the biggest things that can impact the value of a home is the school district that it’s located in. A house that is in a good school district will be worth more than one in a poor district, even if they are right next door to each other. Property values are also affected by things like crime rates, the way the neighborhood looks and the average wages in the area.

 

The best way to get an accurate determination of the value of a house is to look at comps. If you have a real estate agent that you work with, you should be able to get these from the agent. Comps are listings of comparable properties that have sold recently. In order to provide an accurate picture of the value of the home, the comps used must not have any differences that would have a significant impact on the price.

 

When you start out flipping real estate, it is a good idea to have a couple of contractors inspect the home before you make an offer and give you an estimate for the repairs. Once you have done this for awhile, you will be able to make your own estimates. If you are buying a fixer-upper, you need to allow room for at least $25,000 in profit. This might seem like a lot, but if you missed something when you did your inspection, it could eat up a big chunk of that to pay for the extra repairs.

 

If you are going to turn around and sell the property to another investor without fixing it first, you will need to lower your offer price by the amount you want to make on the flip. For example, if the house will be worth $80,000 and it needs $20,000 in repairs, you could offer up to $35,000 if you were fixing it yourself. However, if you’re flipping it to another investor, he will not want to pay more than $35,000. In fact, he might use a different formula than you do and need to get it even cheaper. You need to take this into account when making an offer for a property you plan to flip as-is.

 

If you follow these guidelines for determining property values, you will be well on your way to a successful career as a real estate investor. Remember, the amount of money you make on a deal depends on buying it for the right price. If you pay too much for a property, you won’t make the profit you expected. Worse yet, you could end up losing money.

 

Want real flexibility to flip nearly ANY deal you want to do, including profitable pre-foreclosure deals? Want access to transactional funding? You can get all these crucial resources by going here Flipping Real Estate.