Tips On How To Invest In Real Estate
Real estate is a potentially great and stable way to invest money. Knowing that location is important, you will be able to make money. Continue reading if you would like to know more.
Do not be afraid to spend money on marketing. It is easy to just focus on the numbers and get fixated on how much marketing is costing you. However, it is important to think of the marketing as an investment in and of itself. If done the right way, it will only benefit you in the end.
Never give up if you ever experience a setback with your plan and strategy. The real estate market is filled with many great and bad times, so make sure to stay strong if you hit a lull in your search. Persistence is the key to success when dealing with real estate.
Inspections cost money. However, if there are problems with the property that cannot be seen by the naked eye, you are likely to spend much more money in the long run. Therefore, think of an inspection like an investment and always have one done prior to purchasing a property. It may not uncover anything, but there is always the chance that there is something seriously wrong with a home.
Build a strong team that is going to work with you during the whole process. This means that you will need to get a realtor, accountant and lawyer that will help safeguard you in case anything goes wrong in the process. These people will also give you great advice while you invest.
Always be on time when you set up a meeting with a potential client. This will indicate that you mean business and will show no disrespect to your potential customer. Coming to a meeting late shows that you are unorganized and do not care about your customers, which will cause you to lose them.
Get an understanding of tax laws and recent changes. Tax laws are updated and amended regularly which means it is up to you to keep up with them. Sometimes the tax situation on a property can really up the hassle. When it seems to be getting to thick to manage, consider a tax advisor.
Know how much your time is worth. Though you might enjoy fixing up a property, is it the best use of your time? Or is it better suited to looking for the next great opportunity? Whenever it is possible to delegate tasks, do not hesitate. This will let you free up time and concentrate on more important details.
Buy local properties. Since you are familiar with the neighborhood already, it won't be as big of a risk for you. Plus, if you're renting, you can be more secure in the fact that you know what's going on in the place. You will have better control of your investment since you live nearby.
Don't let your real estate investments eat up your cash or emergency reserve fund. Real estate investing usually involves a lot of money and isn't accessible at all times, and sometimes the returns take a long time to get back. This shouldn't affect how you live daily.
You want to become familiar with a neighborhood before investing in properties there. As far as real estate investments go, location is important. You should also know if there are any special laws or attributes. Talk with neighbors before putting in an offer.
Always consider the market if you are looking to buy property to turn around and resell it. It can be risky to invest in a market that is flooded with available properties. You don't want to be stuck with something that you have to sell at little or no profit. Understand that you may have to wait to get the best price so make sure you can do that.
Do not immediately buy a property at or near a major road intersection just because of where it sits. While it is true that gas stations excel at making money this way, sometimes other businesses like restaurants suffer. Check a potential property out at various times of day and even throughout the week. Certain traffic patterns might make the place a pain to get in and out of, which might be why it is for sale.
Begin with investing in one property. You may want to start big, but don't bite off more than you can deal with. Instead, begin with a single property and allow yourself to learn an investment strategy over time. This will benefit you in the long run.
No matter how big or small your intention in real estate investing may be, make sure you have a good space to work out of. A home office can work out well, provided it's organized and well-equipped. It's also good to be able to work out of one of your own buildings too, to save costs and time. Either way, make sure the office can run smoothly.
You want to properly screen tenants every time. Many times unreliable and irresponsible tenants can cause a lot of damage to a property and be behind with rent. So do a credit check, get references and always get a deposit and first read more month's rent before they move in. This will help you make sure your tenants are dependable.
Do not sign any contracts to buy a piece of land before you do your research carefully to confirm the ownership of the land. Hire your own surveyor to identify the property lines clearly. This prevents misrepresentation of the piece of property for sale, and it mitigates any future problems.
If you are involved in real estate investing and not finding any good deals, than you need to do some marketing. Let people around the community know that you are looking to invest. It only takes a few conversations to turn up some leads that were previously just outside your radar.
Don't neglect that tax benefits of real estate investment. Set up your real estate investments in appropriate LLC or S-corp legal entities. Do so very early in getting involved in real estate investing. You do this early to maximize your long-term benefits and because the longer you wait the more complicated it gets to do so.
No matter how big or small your intention in real estate investing may be, make sure you have a good space to work out of. A home office can work out well, provided it's organized and well-equipped. It's also good to be able to work out of one of your own buildings too, to save costs and time. Either way, make sure the office can run smoothly.
This article is about how real estate investments can help people supplement their current income. However, to be successful with your investments, it is very important that you acquire as much knowledge as you can. Apply the knowledge you learned from this article when starting your real estate adventure.
Los Pecos Senior Apartment residents say their homes are unsafe after a string of crimes
crimes
By: Paulina BuckaPosted at 8:18 PM, Apr 20, 2022 and last updated 11:38 PM, Apr 21, 2022
LAS VEGAS (KTNV) — Residents of an apartment complex for seniors in Las Vegas say they don't feel safe at home anymore after a string of crimes on the property.
They've pleaded for increased security measures at the Los Pecos Senior Apartments, near Pecos Road and Russell Road in east Las Vegas, but say they've not been heard.
Part of the problem, Karen Hauffman and General Gray said, is a busted gate. They say it's made them an easy target.
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Just last week, a car explosion rocked the whole building, Hauffman said. Someone set the car on fire, creating an explosion that spread flames to nearby vehicles and scorched the covered parking spaces.
"When it exploded, this whole cement building shook," Hauffman said. "By the time the fire department got here, three cars were engulfed, the whole canopy was engulfed."
That's just the most recent incident, Hauffman said. The problem dates back to last year, when Hauffman says her tires were slashed right before Thanksgiving.
"I took it upon myself to look around where I live, see what's happening, if it's just me or what," Hauffman said. "As I walked the whole property, I found eight other cars (with slashed tires). And I took pictures and gave it to management, and they said, 'Sorry, you park here at your own risk.'"
Gray himself hasn't been a victim, but said he's seen his friends deal with car theft and slashed or stolen tires.
"I have never experienced something like this, and I've been here five years," Gray said. "Walking and seeing a woman's tires missing, tires cut up, cars stolen — I just haven't seen that."
The Las Vegas Metropolitan Police Department confirmed its officers have responded to numerous reports of crimes on the property, from a stolen car to slashed tires.
The lack of a security gate or patrol makes the residents perfect targets for crime, Gray said.
"We have no gate, we have no security, we have no police presence, and criminals have deemed this a target-rich environment," he said.
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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