Would You Like to Invest in Nashville Real Estate? These Five Crucial Lessons for Real Estate Investing will Drive Your Success. Most Investors Fail due to a lack of strategy, knowledge and expert advice. Planning to Win from Day One is your best strategy to maximize profits.
Here’s Your Five Lessons to DOMINATE Nashville Real Estate Investing!
Lesson #1: Location. Location. LOCATION!
This lesson is the oldest adage in real estate. It is also the best because it is simple, common sense. Invest in the best location that you can afford. Your location will determine the quality of tenants that you attract, the amount of rent that you can charge, and the appreciation that you can expect in the long run.
How do you determine the best location? Study the market and hire a Realtor who knows it like the back of their hand. You need to understand the rental rates, quality of schools, past appreciation, relocation, future market trends and everything else that might affect Real Estate in your targeted area.
Lesson #2: Understand the Costs and Have Capital on Hand!
This is the most crucial lesson in the life of a Real Estate Investor. Many Investors understand the cost of the mortgage and the rental rates only. Others keep a minimum amount of cash on hand. Both can be dangerous. Combined they are a recipe for disaster! Do you want Murphy to move into your rental home?
You need to understand the total cost of ownership for your Nashville Real Estate Investment. This includes down payment, taxes, improvements, insurance, maintenance, repairs, vacancies, management fees and more. I also recommend that you keep on had three to six months of projected total expenses. Do you like surprises? Unexpected repairs, evictions and vacancies are most common deal killers for those investors who are not prepared.
Lesson #3: Use Your Insight and Creativity to See the Full Potential!
The second best adage in Real Estate is Buy Low, Sell High. How can you see the real value in a property? You need to be able to look past the cracked paint, overgrown landscaping and dirty carpet to score a great deal! You need to look beyond what other investors see and envision the full potential. This is one of the top secrets of the World’s Greatest Investor, Warren Buffet.
As competition in the market increases, those investors who can realized the full potential of a property will be the most successful. The Value of the Nashville Real Estate Market is expected to increase 1% by the end of 2012 and another 2% by the end of 2013. It is important to stay ahead of the curve and not pay more than necessary for your home. Five Years from Now, many people will be saying: I should have bought in 2012.
Lesson #4: Understand Your Responsibilities and Plan for Potential Problems!
Understanding your role, responsibilities and rights as an investor is essential to winning in Real Estate. The wrong decision may not only cause you to lose, but can find you on the wrong side of the law. Areas to be especially careful include incorporation, liability and eviction.
Planning for potential problems at the start can save you much time, money and aggravation! Why do you think part of the Boy Scout Motto is Be Prepared? Your decision-making will be better when completed in advance. It is easier to make the wrong decision while embroiled sea of emotions.
Lesson #5: Partner With an Experienced Team of Experts!
Would you prefer to work with individuals who are interested in a transaction or a team of professional who have your best interests at heart? You need a team who will put You First. Look for a Realtor, Loan Officer, Contractor, Property Manager and Attorney who also have the heart of a teacher.
Look No Further! For your benefit, We have already assembled a team of top producers who are willing to go the distance and help you meet your goals. We will work together with you to make this process fun, easy and as hassle free as possible.
P.S Why Are You Still Waiting? Click Here to Contact Me Now! Steve Jolly (615) 519-0983
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