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Friday, December 26, 2008

Real Estate Investing: The Opportunities offered in our Market

By Bob Brabb

Real estate can be funny thing; there are some strategies in real estate investing that are only successful when the economy is down and values are declining.

If you are ready to dive in and invest in real estate, then here are some helpful tips:

Finding Great Deals

Let's take a closer look at the current situation, or what I call the "Perfect Storm" - Massive over-saturation of bank-owned properties - Downward spiral of the economy - Low interest rates (the lowest in 80 years)

We are in a buyer's market! There are many great deals available on real estate in all types of neighborhoods across the nation. You would be surprised at how low some of the asking prices are for houses.

How do I Begin?

How do you leverage your time and money in finding those great deals? If you are new at the game, the best way to manage your real estate investing career is to get to know a Realtor. A Real Estate professional has expertise and knowledge of the housing market. You can be confident in teaming up with an experienced Realtor, who strives to provide a high level of service, because he or she knows that their business thrives from giving good service.

Providing a great real estate service generates more business through client referrals; referrals are a key to an investor's success.

A good realtor knows the housing market and can help you to avoid time wasted, missed opportunities and financial loss. Going it alone could set-up you up for disaster as a beginning real estate investor.

There are a lot of real estate services that are provided on-line; many real estate transactions can be completed via internet. Your real estate partner should have all the tools and understand the latest technology so you can become a professional at finding the best deals available. A savvy realtor knows how to be first in line to see new great deals.

Closing the deal

Closing the deal can be a challenging experience. A real estate professional must always remain 'on top of things' to successfully get to the closing table and finalize the transaction. A real estate professional will know the best way to structure the deal for a smooth transaction whether you're working with foreclosed homes, HUD properties, wholesale investing or one involving a short sale.

Choosing a Real Estate Professional

Talk with Investors in your area, join local REIA clubs and attend meetings hosted by Realtor organizations to find the Real Estate Professional that will support your real estate business. A lot of real estate investors like to work in partnerships; many like to mentor new investors too.

The market is ripe for real estate investing; supply is quite high and few are buying; therefore, the prices are great. Work with an experienced real estate professional who can act as a mentor if you are new to investing. Even experienced real estate investors benefit from forming partnerships.

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