The Real Estate Investing Advice You Need
Making money with real estate sounds easy to most people, and then they sometimes realize the hard way that there is much knowledge needed. As with most things, if you're able to figure out what to do, you'll be able to have a good experience. While the market is always unpredictable, your strategy doesn't have to be.
Make sure you have a budget when you invest in real estate that includes how much you're going to have to pay to fix the home you're buying up. You don't want to blow all of your money on getting real estate just to find out that you can't afford to fix it up.
Join an online investor group, or subscribe to the blog feeds of prominent real estate investors. This will give you invaluable information that you can use and implement into your strategy too. You could even talk to someone in a more personal atmosphere.
If you're going to want to do some home projects on your property, then you need to make sure you know what you're doing. When home improvements are done wrong, it could really make your real estate drop in value. It may just be best to hire someone that knows how to fix the problems the property has.
Be careful about choosing properties with strange room layouts. You may personally find it interesting, but many people don't like these strangely developed properties. They can be extremely hard sells. Picking one up without a potential buyer in mind can lead to it sitting in your inventory for months, if not years.
Know what you should be looking for in a property based on current trends in the market. For example, if you're going to rent out the properties you buy, then it's best to have units that are for single people, which is a current trend. Another example is to ensure any home you buy has three or more bedrooms because it will be easier for you to sell or rent to families.
Pick one core strategy and get good at it. Your choices range from buying and flipping, buying and rehabbing or buying and renting. It is easier to master one of the three choices than dabble in two or three. In general, you make the most money in the long run by buying and holding.
Don't do any digging around a property you haven't closed on. It is illegal in some areas to dig, and you do not want to damage this property, either.
Keep an accountant on speed dial. You can be aware of tax laws and current taxation; however, there are many variables to keep in mind. A good accountant, that understands and keeps abreast of tax laws, can be an invaluable asset. Your success with investing can be made or broken by your approach to taxes.
Seek out new clients by contacting a title company. Ask for a list of the buyers in your area who have purchased homes similar to the type you seek. In this way, you can let them know of your interest in investing before they have even thought of reselling. Being acquainted in advance gives you an edge.
Always have some idea what the future economic forecast is for a county you are looking to buy in. High unemployment rates and lack of good jobs on the horizon will keep down property prices. This does translate to a small return. A vibrant city will increase your investment pretty quickly.
Research the economy in the area where you plan to buy property. Poor job prospects and high unemployment rates will run down the prices of the homes. That means you will get a very small return, if any. Cities are generally the most expensive areas.
Understand that real estate investing is a commitment. You may have heard a lot about flipping properties quickly for profit, but the reality is you are more likely to make good profits by purchasing carefully and managing get more info the property wisely until property values increase. Purchase a property that will attract solid tenants for steady, ongoing income.
You won't make money immediately. You're going to want to have capital put away in your bank. You should probably keep your job when you first get started so you can show you have solid income. There are quite a few expenses that pop up. If you don't have steady income coming in, you could end up in financial ruin.
Before you buy investment property in a neighborhood, find out if the city has anything planned for the areas surrounding this neighborhood. For example, you would not want to buy in an area if the city proposed to turn an area into landfill. If there are positive improvements on the horizon, this may be a good investment.
If you want to make money with real estate, invest immediately. A major mistake is to not enter the market to learn about the business as soon as you can. The longer you decide to wait, the more behind you will be.
You need to consider the worst case scenario if you were unable to sell a property you were invested in. Could you rent it or re-purpose it, or would it be a drain on your finances? Do you have options for that property so that you can have a back up plan if you can't sell it?
As an investor, be very picky about the properties you will invest in. This means that before you even consider making an offer, you take the time to thoroughly inspect the property. To be even more on the safe side, hire a professional inspector to perform a walk-through and ensure the property is structurally sound.
Watch how the market is moving. Real estate investing isn't just about the number being presented to you. It's also about how the national market and your community market are trending. If you see a potential dip coming soon, you may want to wait out on making an offer. It could mean tens of thousands of dollars on the total price you pay.
Don't spend way too much of your time on a single deal. If it takes too much time, the quality of the "deal" diminishes. You are missing out on seeking out new (and potentially better) deals, and there's no guarantee that the current one will actually close.
Trying to manage a real estate investment portfolio without the proper information is going to put you in quite a pickle. These should be very exciting times for you as you prepare to set out on your adventure with real estate investing. So be sure you take these tips to heart and continue to seek out helpful information so that you don't run into any trouble.
Following January 2022 ResortSuite Acquisition, Agilysys Accepts the ISPA Innovate Award at the 2022 ISPA Conference May 2-4, 2022
“Personalization is the new luxury,” noted Frank Pitsikalis, founder and chief executive officer of ResortSuite and now vice president, strategy for Agilysys. “The future has always been tech-based and COVID has amplified and accelerated this reality. Now guests deeply desire personalized, mobile control over their experiences on property, which has moved these capabilities from ‘nice to have’ to an absolute must,” Pitsikalis added.
Booth 809 will showcase how Agilysys and ResortSuite offer solutions that are “Stronger Together” as spas, resorts and hotels leverage technology to delight guests in the wake of expectations shaped by a global pandemic. Key demonstrations will include touchless guest experiences, mobility, single guest itineraries, end-to-end connected solutions and the sustainable value of SaaS solutions not constrained by on-premise resources. These solutions improve operational efficiency to boost productivity, heighten retention of talented staff members, and capture more appointments and revenue.
The “Stronger Together” conference theme will be woven throughout ISPA’s series of Power Sessions, whichpromote uniting as a spa community, present “state of the industry” information, and provide inspirational programming from well-known speakers offering business and professional growth messages. Mr. Pitsikalis will host a Power Session showcasing Jade Sessions, a world-class pianist and CEO of Jade Media Global on Tuesday, May 3rd.
“I’m excited to be back in person at the ISPA Conference,” said Pitsikalis. “It’s a great opportunity to catch up with the ISPA family, and I’m looking forward to showing the industry how Agilysys and ResortSuite are stronger together, and better able to offer comprehensive and seamless hospitality solutions tailored to what modern guests desire.”
For more information on how spa management solutions improve efficiency and productivity so staff members can meet evolving guest desires and increasing demand, visit Agilysys ResortSuite in Booth 809 at the 2022 ISPA Conference. Learn more or book an appointment with one of our experts here.
https://docs.google.com/presentation/d/10u1wKM5qj_5IMnAIFF69_AGFxsQecPfzuIVJmVFlxM8/edit?usp=sharing
Bear Real Estate Advisors Represents Cypress West Partners in Acquisition of Las Vegas Medical Office Building Portfolio
LAS VEGAS, March 21, 2022 /PRNewswire/ -- Bear Real Estate Advisors, a national investment services firm, announced today its representation of Cypress West Partners in the acquisition of a four-building, multi-tenant medical office building portfolio in the Las Vegas suburb of Henderson, Nevada. Total sale price for the portfolio totaled $17.1 million.
"Medical office buildings are prized among real estate investors as they are historically among the most stable asset types," said Matt Bear, founder and chief executive officer of Bear Real Estate Advisors. "Wigwam Professional Center is ideally located in the densely populated and affluent Green Valley neighborhood of Greater Las Vegas, where demand for healthcare services continues to grow along with the population."
Built between 1998 and 2002, the portfolio totals approximately 50,000 square feet and is 100% leased. Located at 2500, 2510, 2625 and 2649 Wigwam Parkway, the portfolio is located in close proximity to Parkway Surgery Center and St. Rose Dominican Hospital, with convenient access to Interstate 215.
Chris Cumella, partner with Cypress West, added, "Acquiring the Wigwam Professional Center furthers our aspiration of being the premier medical investor in the Las Vegas Valley. This property fits our unique skill set of building relationships with the local medical practitioners and providing risk-adjusted return to our investors. We appreciate Bear's knowledge of our investment objectives, and for being a trusted source to help us reach our company's goals."
https://docs.google.com/presentation/d/10u1wKM5qj_5IMnAIFF69_AGFxsQecPfzuIVJmVFlxM8/edit?usp=sharing
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