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10 Tips for Investing in Distressed or Foreclosed Properties
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Real Estate Investing Financing Truths - Part 2
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"Property Investing - A Numbers Game Or As Easy As 123?"
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Word Count: 385 Character Width: 60 Resource Box: Peter Stanley
at www.bookshaker.com
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"Property Investing - A Numbers Game Or As Easy As 123?"
- by Peter Stanley
(c) Property Made Simple. All Rights Reserved.
http://www.bookshaker.com
===========================================================
People think that property is complicated and that you need to
be a rocket scientist to get involved, but I can promise you
it's an urban myth.
Other people think that my finance background makes it simple
for me, but whatever you're good at can be used in the property
arena - you can use spreadsheets for the numbers.
I was talking with a novice investor recently about how to get
involved and we spent some time talking about the investment
process.
Let me spell it out for you - work out the cost to buy, add the
refurbishment costs, then take that number away from the value
when you've finished your work.
See, I told you it's simple.
I'd go a step further and say that if the numbers don't stack
up, then don't buy it. There are many people who are looking for
a renovation project and when they run through the simple
calculation above, they find out that they've paid more, in time
and money, than it would have cost them to buy a house
in good
order. As my dad says, if you want to work for free, you'll
never be short of work!
As some of you will already know, I try to manage the systems
rather than work on the houses myself. Whilst I can do the work,
I'm slower than a tradesman and the results are noticeably that
of an amateur - so I price in for someone to do the work for me.
Again, it's a matter of calculating the costs for each of the
jobs, but it also means I can leverage my time more effectively
and run more deals at once.
For other people, this means that they can build a portfolio,
whilst holding down a day job, which also means they can invest
without needing an instant income.
When I speak to my clients about a new deal, they ask me for the
numbers first and the detail second.
But going back to your individual skills, I still take the
opinion of someone who was a local visiting chiropodist, as she
knows all of Tameside like the back of her hand and can tell me
in ten seconds what an area's like.
If you're still not convinced, read my book or get in touch.
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Do you watch the
property investment programmes thinking that this is the way out
of a job you hate... but don't know where to start? Then you
need to read Property Made Simple. Buy it here...
http://www.bookshaker.com/product_info.php?products_id=129
KEYWORDS: property investing,investing in property,property
market, invest in property,property made simple,peter
stanley,numbers game, property investment calculation
About the author:
Do you watch the property investment programmes thinking that
this is the way out of a job you hate... but don't know where to
start? Then you need to read Property Made Simple. Buy it
here...
http://www.bookshaker.com/product_info.php?products_id=129
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