The Formula For Real Estate Success

Right now we are going to learn the secret formula that will lead you to real estate investment success.

                                   The Real Estate Formula

1. Buy only income producing properties such as houses and apartment buildings.

2. Never buy a negative cash flow property.  Meaning, never buy a property that cannot generate enough monthly income to pay all the expenses, such as the mortgage taxes insurance, and everything else.

3. Only buy property that needs cosmetic work and/or a management change because that is how you can get a real bargain.

4. Never buy property that has a foundation or structural problem.

5. Have others manage your property while you go out and buy more real estate.

6. Only buy property from motivated sellers.  Meaning, they have to or need to sell quick.

7. Only buy properties you can get for 20-30% below market value.

    How To Find The Nicest Neighborhood And The Best House

Right now we are going to learn how to find the right neighborhood and the right property that will generate us the best rent and will bring us the best sales price

                      Finding The Right Neighborhood

Now here is what you want in a neighborhood.

Dos and don’ts

1. Do only buy property where you are prepared to live.

2. Don’t buy property where the neighborhood is deteriorating.

3. Don’t buy property in a neighborhood where the other buildings are over crowded and jammed with more people than the building was designed for.

4. Don’t buy property in a high crime area.  Note:  A way to tell if there is a drug house in the vicinity is if you see shoes on the telephone wires.

5. Do buy property in an area with a good school system.

6. Do buy property that is close to shopping.

7. Do buy property that has convenient public transportation.

8. Do buy property where most of the houses look like they are taken care of by their owners.

9. Don’t buy property where there is a lot of abandoned property.

10. Don’t buy property where there is a lot of noise.

11. Do look at the neighborhood at night to see what is happening at night.

12. Do try and buy property where there are new homes being built or there is a general fix up of neighborhood.

13. Do always check the neighborhood and the surrounding neighborhood zoning requirements.  That way you will know what might start being built there and if you want to buy.

14. Do try and buy property that has three bedrooms and two baths.

15. Do try and buy property that can be converted into a hire use.  Such as a house being turned into a duplex.  Check out the zoning to find out.

16. Do only buy properties in areas where there are more owner occupiers then renters.

                         Finding The Right Property

What buyers/renters want and don’t want in a home.

They want

1. A good neighborhood/location.

2. Large rooms.

3. Large closets.

4. A good laundry facility.

5. Good layout for the different rooms.

6. Enough space for furniture in the bed rooms.

7. Enough space for eating in the kitchen.

Remember, common sense is not always common knowledge.  Just a littler bit of wit and wisdom.  Have a great day!

This Article was brought to you by:

Joshua Fogle

Author of:

(1) How To Make 10% Or More On Your Money 

(2) Stock Up On The Stock Market

(3) How To Buy Real Estate With One Hundred Percent Bank Financing

To find me on ebay type in "ZMZ"

Copyright © 2007 Joshua Alan Fogle All Rights Reserved