There’s Always Money in the Banana Stand
Real estate sales have slowed down a bit over the past few years, causing many people to forget that there is still good money to be made through the purchase of homes and buildings and even undeveloped land. While to takes a nice-sized bit of pocket change to get started, the effort can pay off with great profit.
There are two basic ways to make money off of the purchase of existing buildings, be they residential or corporate. You either rent it out to slowly make back your money, or you hold onto the property to sell at a later date when the market supports higher prices. Or, more likely, you do both.
The rent on a building should be high enough to let you make your loan payments and cover any sort of issues which might arise with building upkeep and repair, while leaving you some left over. There will always be cases where the tenant calls you at 4a.m. because the stove broke and you’ll have to act quickly to repair or replace it.
Right now, with the slowing real estate climate, it’s a good time to snatch up properties cheaply to be able to flip for more money in a nicer economic time. However, it is only a good idea if you can afford to hold a property for an indeterminate amount of time.
The first step for most people who decide to enter the real estate game is to secure private investor loans. Loans for real estate investors in Orange County give you the capital needed to make your land purchases.
In order to secure real estate investing capital in Los Angeles, you’ll need to be able to convince the bank that you know what you’re doing. Come up with a game plan that shows that not only that you understand what is entailed with the purchase of a property, but you’ve done your homework on what rent prices will attract occupants and pay off the loan.
Look for Los Angeles, CA real estate investment resources which will give you a head start with planning your presentation to get real estate investment capital. Even something as simple as paging through the classifieds will give you an idea of how much rent is for various-sized buildings.
Educate yourself on the loan beforehand. Knowing the length of the loan and the amount of the monthly payments will help you determine whether the loan works for you and, thus, will allow your presentation to be more effective.
Securing Orange County real estate investment capital takes a lot of bureaucratic nonsense, but in the end you’ll find yourself capably on the way to a financially secure future!