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Tuesday, 27 May 2014

How to Make Money in Real Estate

Making money in Real Estate is a very rewarding career path. Like any investment that you make it goes hand in hand with some risk. People have been making money this way for decades.

Conduct a Google search on a school in your city that offers a crash course to help you obtain your new launch Real Estate License.

Once you enroll in the class, make sure that you study. The test is not easy, and most people fail it the first time that they attempt it.

Congrats! You passed, now it's time to find a house that is selling below "market" value. Do your research and determine how much you can afford to pay contractors to spruce up the house.

Find a lender that will finance 100% of the property. By doing this, it will allow you to keep your cash for improving the home and carrying costs. Carrying cost are the costs involved while you make all the changes that you need to. Don't go over board. This is your first deal. It can take up to a year to sell a home in this market.

Once you have made the upgrades, hire a "Real Estate Appraiser" that is familiar with your area. Find the new value of the home and put it back on the market. Now that you have your liscence, you can keep the transaction fees to a minimum.

Related Post:
5 Factors Affecting Sales Demand For Real Estate
Property Development Business Plan

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