One of the most successful ways to gain wealth in USA has been the purchase of  money generating real estate.  A look at real estate comps for any area will show you the huge earning potential.  Ownership of property is the best way to gain financial freedom for a common person. In order to become a good investor in property, you must be a smart  person who has a firm understanding of the working of the real estate market.

Here are some tips which you can follow to become successful in the property profession.

1. You must write out specific and clear goals which have perfect time lines on them. You must set a goal for an exact type of real estate you are searching for. You should try to be specific. Then you must also set a time limit for arranging the money needed for buying that property.  

2. You must write a detailed and specific plan of action, where you must list everything you are planning to do and this must be organized as per its priority. This combination of your goals and detailed plans you’ve made will provide you with a blueprint for accumulation of real estate and you can follow this on a day by day basis.

3. You must learn each detail in this real estate business. Potential rewards in this business are really high and will naturally go to the person who has done his homework.

4. You must remain prepared to firmly back your plans with sacrifice, persistence and hard work. When you venture into real estate it is just like starting your own business. You must learn a lot of things but, you can learn them in time. There could be ups and downs but you must remain persistent.  There is success waiting for you at the end of the tunnel.

Many investors who buy property usually hold it for a long duration and then sell it at huge profits. They sometimes get impatient when they learn that some people are earning huge and fast bucks in flipping the properties in real estate. Remember that the lure of real estate investing is its potential earning power.  Take these tips and use them and you can take hold of that power while building your business!

I’m a typical potential home buyer, but would I buy YOUR home?

I am like most home buyers and have to connect emotionally, I don’t watch real estate comps like typical investors….I want to ‘feel’ the “Ahhh, I would love to live here!” So what will help me connect emotionally? What will attract me to YOUR home in particular when there are so many homes on the market?

1. The online ads must pique my interest.

Like over 90% of home buyers in the US today, I will start my search on the internet…those ads are really my ‘first impression’. If the ads show the house has outdated décor, bold colors, messy rooms, etc, the first thought I have is that your home needs a lot of work….which means more time and money for me. More than likely I will dismiss your home as a possibility and will move on to other homes. Also, if the photos are too small, fuzzy or just overall poor quality, I will move on.

2. I have to get a great ‘first impression’ when I drive up.

I have to like the outside so much that I am dying to see it inside. Peeling paint, tarnished door hardware, garbage buckets, poor landscaping will all tend to make me to drive by without looking any further….unless I’m desperate….and I’m not because there are lots and lots of homes on the market.

3. I have to see that the home has all the appropriate updates.

I do not want to replace that worn carpet, linoleum floor, outdated countertop/cabinets, lighting fixtures, etc. Like 63% of buyers today, I would gladly pay more for a home that already has those updates.

4. I have to see that the home is in good repair.

If I see a leaky faucet, cracked window pane, squeaky door, etc. I will not be impressed. (I may try a lowball offer because of all of these needed repairs.)

5. I have to feel a sense of spaciousness.

If your closets are overflowing, your kitchen/china cabinets are overly full (and I WILL look), I will immediately think that your house does not have enough storage. Also, if your counter top, table, or any horizontal surface is cluttered I will get the same impression. If you have too much furniture, or furniture placed so that it impedes the natural flow of traffic, I will not get that sense of spaciousness.

6. I have to be able to imagine MY family living in YOUR house.

Your family photographs, diplomas, certificates and personal collections on display will NOT help me to do this. In fact, they can distract me and cause me to fail to see the good features of your home.

7. I have to get a ‘homey’ feel.

If your home has been ‘de-cluttered’ too much, or if it is vacant, I cannot feel ‘at home’ in your house. Like 90% of people, I find it difficult to visualize how the room would look with furniture, accessories or different paint colors. This is where home stagers shine…knowing how much to take away or how much to add and what colors to paint to make your home appeal to me, the typical home buyer.

So, in conclusion, to make me buy YOUR house, it has to stand out WAY above the competition, in all the ways mentioned… and in light of all those points, would YOU buy your home if YOU were the buyer?

If you’re wondering whether we’re at the bottom of the real estate crash, and whether the recovery has started or not, you’re certainly not alone. Homeowners and real estate professionals alike have been watching local and national real estate comps in housing markets very closely, particularly indicators of market health and what’s to come.  Here are a few areas to watch in the current real estate market. 

Pending Sales

The number of pending sales, or properties currently under contract to sell, is a more current indicator of housing market health than actual sales (although slightly less accurate). Compare today’s number to the number a year ago for a good sense of how your local market is trending.

Housing Starts

The number of new construction projects launched, also known as housing starts, are a good indicator of the direction the market is moving. Developers spend a lot of money on market research before investing the millions of dollars new construction projects cost, so take advantage of their investment by using them as a gauge of the market.

Home Sales

New home sales and existing home sales are two indicators to track, as they offer insight into true market demand. Compare last month’s figures for these two indicators to that of a year ago, for a strong indicator of how the market’s moving.

Housing Inventory

While home sales offers a glimpse into market demand, the housing inventory available in your market shows you the market supply. Track this number over time, to see the rise and fall in real estate supply in your area as a gauge of the market.

Whether you’re a real estate investor or homeowner, a landlord or tenant aspiring to deed instead of a lease agreement, it’s worth your finger on the pulse of your local real estate market. Now is a great time to buy real estate, so do your homework, and determine whether you’re ready to become a homeowner, landlord, or investor!

You’ve done your research and learned about real estate comps, but you’re not making any money because you can’t seem to find the deals. And of course, the deals are what you need to make money in real estate investing. Don’t worry. While you might have some trouble finding deals at first, once you figure out what methods work for you, finding deals will become second nature.

First of all, you need to understand that the deals won’t come knocking at your door. At least, not at first. Until you have a reputation people won’t know to come to you. So, you have to go out and find your own real estate deals.  

Notice any “for sale by owner” signs lately? Every one of these is a potential investing deal. Every time you pass by one without writing down the phone number, you’re passing up a deal. So instead of driving by these homes, write down the address and telephone number. You can also use the newspaper to find ads for sale by owner ads.

If you’re interested in working with foreclosures, you can get a listing of foreclosed homes from your local courthouse.   The price of these lists varies from one city to the next and in some places it’s free.  Or join REOGoldMiner.  Here you can set your parameters and the amount of money you want to spend and it will return dozen of deals with a click of a mouse.

Get the deals to come to you by letting people know you’re interested in buying houses. How do you do this? Put an ad in the newspaper. Post flyers around town. Pass out business cards. Tell your friends and family. The key is to get the word out that you buy houses. The more people who are exposed to your advertisements, the more you’ll notice people contacting you to purchase their home, instead of the other way around.

Real estate investing deals are all around you. When you first start out, it’s hard to find deals because you don’t know exactly what you’re looking for. After spending some time locating deals, you’ll perfect the process. By that time, you’ll be so well known at what you do, you’ll be turning deals away!

The real estate industry is all about good real estate comps, connections, referrals, and networking. Yes, traditional advertising like billboards and print ads still work, and are still worth their high-end investment price tag. But savvy investors know that social media and the power of those tools to generate leads, create brand recognition and begin an ongoing conversation.

When approaching social media in the real estate industry, it is important to focus on the “social” aspect of the technology and provide interesting and useful information that you yourself would want to read or know about. Keeping things interesting by posting videos, businesses, social events, and questions that encouragie interaction will go a long way in the social media sphere. While social media is an excellent way to keep in touch with existing clients and colleagues, it should also be seen as a way to build your business and generate new leads. A few ways an agent can successfully leverage social media tools are…     
Network by occupation:
Facebook, Twitter, and LinkedIn are a great place to meet new people in the real estate industry as well as other relevant industries

Find leads by farming the information:
A tool like demandspot.com allows you to search specific words within tweets. This is a great way to generate new leads.

Become a community expert:
Hyperlocal community resources are growing in popularity. Use social media tool to create resources about the community you operate in, and watch the interest in your updates and tweets rise.

Perk interest and Connect:
A blog post, a picture, a tweet or update-these can all serve as reasons to pick up the phone and give someone a call-make the connection that can lead to future business.

The power of networking may prove the most useful aspect of social media for the real estate industry. The powerful combination of solidifying your brand and your persona in the way you want to be viewed, when added to the benefits of referring business back and forth from connection to connection can add up to a win-win situation for every one involved!