Home Qualified's Ralph DiBugnara reveals his insider tips to breaking in, staying in and finding success in real estate.
The Real Estate is booming and the time has never been better to invest. Experience goes far in this business but luckily, we are willing to share our hard won wisdom. Read below for our tips on how to invest with success.
Understand Who You Are as an Investor
Are you looking for a long term investment or a quick ROI on a house flip? It’s important to define your goals, make a reasonable time line and invest accordingly. A long term plan that includes purchase and equity growth is a different commitment than a short term, improvement heavy flip. Know your limits and expectations.
A knowledgeable team of professionals is key to success in real estate investment. Realtors are a wonderful resource for trends and deals. Often, realtors can offer insight into the kinds of neighborhoods that grow capital and the kinds of properties with high ROI potential. A quality home inspector is equally indispensable. Inspectors can easily and effectively determine the potential problems that can make a dream investment a money pit nightmare.
Take Your Time
Investment is a marathon not a sprint. Forgive the second sports metaphor of the paragraph, but Real Estate runs in cycles. Patience equals profit in today’s market and if you have the time and the capital to invest for the long term, success is likely if not guaranteed.
In order to build a strong portfolio most investors will need to seek financing. Fortunately, there is a mortgage for every type of investor and many are relatively easy for newcomers to acquire. Search around and speak to other investors about what institutions and lending services have helped them reach their goals.
If you are thinking about becoming a real estate investor and have questions we are here to help! Check out our website and reach out to us . This is Ralph DiBugnara for Home Qualified