Saturday, May 24, 2008

Real estate Investment property brings liability

Real estate Investment property brings liability. For example, lets say properties are selling in approximately 6 months, so you want to calculate 6 months of costs for holding that property. By aligning yourself with the right professional you can avoid common mistakes and you’ll ensure an excellent return on your investment. These costs include the mortgage on the property, the taxes and insurance, the utilities, basic upkeep of the property, like mowing the yard. Check everything: rents, payment history, taxes, expenses, deposits, future modifications... everything. Some people do the repairs themselves and others use a contractor. Either way get a good estimate of what these repairs are going to cost. Predicting constant appreciation is extremely difficult if not impossible for the unseasoned investor. This can create stress, frustration and become quite painful. Consult with a professional real estate agent and protect yourself from the hidden troubles that can plague first time investors.

No comments: