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Where do I start if i'm brand new to real estate investing?

I'm brand new to real estate investing. What are the top 10 problems that I will face just starting out? I know that other ventures have like 20 top problems with starting anything that's new or any kind of business. I'm just trying to get my bearings straight so I'll know what to expect as a newbie. It is very interesting though with the potential you can make. All help is definitely welcomed.

Public Comments

1. When invsting in property you need to consider a few things. Location: Sometimes more important than the property itself, no good having a beautiful property in a bad location that will depreciate in value. Being in a good location or a developing area gives your property more potential. So be sure to research the area. Also make sure your property is close to those things that will always attract people to a property when you sell, amenities, beaches, schools etc. You also wan an area that will always rent well, and is popular with locals year round. ie - not too reliant on an overseas market. Build Quality: The quality of the build must be good, if you know something about construction then you're okay. If not, it is not a bad idea to get a surveyor in to give you the information you need, but you want a property that will last, so it will still be worth something in 10-20years time, you also want property that is low on maintenance and energy efficient. Timing: Timing is important. The best time to acquire property is always during a recession, because that is the time the prices are at their lowest. Never buy during a boom because you can never be too sure how a recession will affect the property you own. Buying in a recession means you are in a position to purchase at the lowest possible price. its only a little bit of info but I hope it's useful.
2. Declining values in many markets Long days on market Limited accessibility to commercial funding streams Large amount of inventory on the market Low cap rates Marketing successfully to potential buyers Lack of investors Commercial loan requirements are very stringent Lack of experience in a challenging market Lack of investors willing to mentor
3. Real estate investing is a very booming business. Real estate investing means purchase, ownership, management & rent or sale of real estate property for rent. I think to become a successful investor you should be determined & flexible. There are various fields available in real estate. So you should be specialized in one of the fields of your interest like condominiums or small apartment buildings or any other. You should try to sharpen your negotiation skills. Find out all the terms & fundamentals used by agents & sellers.