Tài liệu Top 10 Dumb Real Estate Investment Decisions pdf

Top 10 Dumb Real Estate Investment Decisions

A Free Publication from Remcon Properties

Michael Medinger

Smashwords Edition

Copyright 2013

Smashwords Edition, License Notes.

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Introduction

Investing in real estate can be an incredible way to unlock cash flow and value, even in

volatile markets. However, there are pitfalls with investing in real estate, just as there are with

any other investment. This free ebook outlines a few of the most common pitfalls so that you, a

prospective investor, do not have to fall prey to them.

These items are a part of my own experience in real estate investment. I have personally

fallen prey to these things, or had a near-miss with them. Take these to heart, and enter the

market with the right kind of attitude: plan boldly, and execute carefully.

#10 Entertaining verbal offers on property

Our firm is in the process of selling a newly renovated property. We’ve received a

number of verbal offers from people represented by inexperienced real estate agents. Some were

high offers from people we can never seem to contact again. Others are lowballs from other

investors who are fishing for a fire sale. In all, these have been monumental wastes of time.

Always treat verbal offers like someone who is merely putting feelers out. This is an

indicator of interest, but it is often not serious. An easy way to screen for serious buyers is to

declare up front: “I will only entertain offers in writing.” This protects everyone involved, and

will save you - the investor - a lot of headache.

#9 Handing over the keys without a contract

Did you know that giving the keys to someone is legally considered a form of

constructive ownership? Save yourself from an avalanche of litigation: never give keys to a

buyer or renter until the ink is dry on all the paperwork and all the necessary money has changed

hands. If escrow is not complete, or if you’ve not collected your security deposit and first