The best way to secure your Real Estate Investing rrofits is to choose the location of your investment. Is It True What They Say: Location, Location, Location! It is a trite old statement; But there is a reason why becomes old and trite sayings. They are real!
As a new real estate investor beginning of your investment career, you have dozens of decisions to make and we will be there to help you make the right choices, and even though it might cost money, it could cost time, you will be able to fix most of your mistakes.
There is nothing in real estate as a permanent place.
So, one of your first steps in your new career as a Real Estate Investor is to learn everything you can about the area or areas where you expect to invest.
If your primary goal is to "purchase capital goods in Cleveland" you have already bitten off more than you can chew. At present, there are 16853 houses for sale in Cleveland with prices ranging from $ 1500 to more than $ 3 million.
Every Real Estate Investor must reduce its focus.
How much do you really know Cleveland? Regardless, it is not enough. You may have lived on the shores of Lake Erie your whole life, but how are you familiar with 99.9 percent of the city where you do not live?
You need a plan. Here is a small sampling of what this might entail.
Keep your eyes and ears open
This can be fun. Tell everyone you know about your neighborhood choice. Strike up conversations at work, PTA meetings, Home Depot, cocktail parties. Everybody likes to give advice asked to: "I think of buying a home at Cherrydale Village. Do you know something about this area?"
Take a Grand Tour
Even before you narrow your focus on a few districts get in your car and meander across all areas of your city that seems even vaguely interesting. Once you have your two or three target areas are identified, make it a point to drive through each at different times of the day and night.
Record your findings
This should not be something fanciful and perhaps some notes on a yellow legal pad or an Excel spreadsheet, but unless you remember what you learned, it will soon turn to his roots in your head . A database will inform your property decisions, not only for your first home, but for the 51st if you keep it up to date.
This is your reference is made it all the information will be most useful for you. However, here is a condensed overview to help you get started.
As a new real estate investor beginning of your investment career, you have dozens of decisions to make and we will be there to help you make the right choices, and even though it might cost money, it could cost time, you will be able to fix most of your mistakes.
There is nothing in real estate as a permanent place.
So, one of your first steps in your new career as a Real Estate Investor is to learn everything you can about the area or areas where you expect to invest.
If your primary goal is to "purchase capital goods in Cleveland" you have already bitten off more than you can chew. At present, there are 16853 houses for sale in Cleveland with prices ranging from $ 1500 to more than $ 3 million.
Every Real Estate Investor must reduce its focus.
How much do you really know Cleveland? Regardless, it is not enough. You may have lived on the shores of Lake Erie your whole life, but how are you familiar with 99.9 percent of the city where you do not live?
You need a plan. Here is a small sampling of what this might entail.
- Narrow your search to a few
- Keep your eyes and ears open for any news about your target location (s)
- Take a Grand Tour
- Record your findings
Keep your eyes and ears open
This can be fun. Tell everyone you know about your neighborhood choice. Strike up conversations at work, PTA meetings, Home Depot, cocktail parties. Everybody likes to give advice asked to: "I think of buying a home at Cherrydale Village. Do you know something about this area?"
Take a Grand Tour
Even before you narrow your focus on a few districts get in your car and meander across all areas of your city that seems even vaguely interesting. Once you have your two or three target areas are identified, make it a point to drive through each at different times of the day and night.
Record your findings
This should not be something fanciful and perhaps some notes on a yellow legal pad or an Excel spreadsheet, but unless you remember what you learned, it will soon turn to his roots in your head . A database will inform your property decisions, not only for your first home, but for the 51st if you keep it up to date.
This is your reference is made it all the information will be most useful for you. However, here is a condensed overview to help you get started.
- District name
- Approximate borders or the names of streets;
- Age of most buildings
- Number of houses for sale and the price range
- School information
- Amenities
- Access to shops, schools, churches, parks.
- Public transport,
- Noise Levels
- traffic levels
- Negative info (ie pending negative development, crime.)
- Positive info (neighborhood atmosphere, increasing investor interest.)
