14 STRATEGIES TO MAXIMIZE YOUR RETURN ON INVESTMENT
Five things readers should do when making a real estate investment:
1 Do your homework: do as much research as you can about theparticular market where you are looking to invest
2 Determine the value: figure out the real value of the piece ofproperty you are looking to purchase
3 Evaluate the context: once you have the market research andestimated valuation, take a comprehensive look at the bigger factors todetermine viability, including the larger real estate market trends
4 Secure governmental assistance: a key method to leveragingproperty purchases in this market is locking in government assistance
5 Negotiate with the lender: be assertive in how you negotiate yourmortgage with the bank
While these concepts are paramount in a down market, a wiseinvestor should incorporate them in every deal in any market.
Tips on how anyone can score in a recession plagued market:
In addition to the five tips outlined above, to further guarantee asuccessful real estate deal, an investor should be well-educated on thefundamentals of the market. More specifically, the investor needs to:
1 Understand historic real estate cycles
2 Buy in the right regions, the right cities, and the rightneighborhoods--pay attention to the fundamentals; real estate is still alocal business and is affected by local and regional conditions
3 Buy quality, even if it means spending more time searching
4 Buy when very few people are buying; that's when thingsappear to be at their worst and opportunities abound
Top tactics to seal the deal:
1 Identify what the seller wants and find a way to give it to them
2 Never reveal your hand, which means never buy or act out ofemotion
3 Be patient--If one deal does not work, keep moving forward; aset-back is often an opportunity in disguise
4 Pay attention to the details and what they reveal
5 Remember that everything is negotiable
R. Peebles is author of The Peebles Path to Real Estate Wealth
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