Welcome to Real Estate Guide
Nevada Real Estate Article
This is a selection made from among articles on Nevada Real Estate. For a permanent link to this article, or to bookmark it for future reading, click here.
10 Important Tips to Successful Real Estate Investing
from: Neda Dabestani-Ryba10 Important Tips to Successful Real Estate Investing
By Neda Dabestani-Ryba
Prudential Carruthers REALTORS
When it comes to investing, everybody has certain goals and aspirations. However, we have found that there are certain guidelines every aspiring real estate investor needs to know:
1. Compare Property Values and Rents
Financial statistics only go so far; the best measure of a property's market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a need.
2. Be careful - Tax laws may change
Don't base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor.
3. Specialize in something you Know
Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties.
4. Know the Costs going in!
Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.
5. Know where your tenants are coming from
If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants' security deposits at closing.
6. Assess the tax situation
Taxes are an integral part of successful real estate investing, and they often make the difference between a positive cash flow and a negative one. Know the tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor.
7. Investigate insurance coverage
If seller's coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price.
8. Confirm Utility Costs
Ask the local utilities to verify recent utility expenses, especially
if any of these costs are included in your tenant's rent.
9. Consult Your Accountant
Taxation is a key element of successful real estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code.
10. Inspect!
Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment.
About the Author
Neda Dabestani-Ryba is a licensed Realtor in Maryland. She is a member of the President's Circle of Top Real Estate Professionals. She can be reached at (800) 536-3806 or visit her website for more information: http://neda.dabestani.pcragent.com/
Prudential Carruthers REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Warning: file(http://www.searchfeed.com/rd/feed/TextFeed.jsp?trackID=&pID=60557&cat=nevada+real+estate&nl=5&page=1&excID=) [function.file]: failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found
in /home/jts066s/public_html/online-real-estate-guide/datas/searchfeed.php on line 8
Nevada Real Estate Specific links
Nevada Real Estate News
Real estate firms consolidating
By Northern Nevada Business Weekly Coldwell Banker Best Sellers, a residential brokerage based in Carson City, will merge with Coldwell Banker Select Real Estate, the two companies said last week. Coldwell Banker Select Real Estate is a unit of Select Group Real Estate Services, a company headquartered at Yuba City, which operates 21 offices more than 600 [...]
Read more...Developer Says Real Estate Market Is On The Mend
With two decades of experience selling land in Las Vegas, Bill Lenhart feels like he has a good understanding of the fundamentals that drive the real estate market. Lenhart, managing member of Sunbelt Development & Realty Partners, has brokered hundreds
Read more...Commercial real estate sales jump
Commercial real estate sales in Northern Nevada jumped in the fourth quarter to 88 transactions from 66 in the third quarter, although half were foreclosures, a report this week showed.
Read more...US White House hopeful Romney leads big in Nevada
Republican Mitt Romney was riding high Friday, the eve of Nevada's presidential caucuses, after a new poll gave him a 20-point lead and real estate mogul Donald Trump endorsed his candidacy.
Read more...Romney leads big in Nevada with Trump backing
Republican Mitt Romney was riding high Friday, the eve of Nevada's presidential caucuses, after a new poll gave him a 20-point lead and real estate mogul Donald Trump endorsed his candidacy.
Read more...Trump gives glitzy backing to frontrunner Romney
LAS VEGAS, Nevada: Real estate tycoon and reality TV star Donald Trump threw his weight behind Republican frontrunner Mitt Romney on Thursday, in a glitzy boost for the former Massachusetts governor's White House hopes.
Read more...Romney Leads Big In Nevada
LAS VEGAS, Nevada, (AFP) – Republican frontrunner Mitt Romney got a new poll boost Thursday two days before Nevada's caucuses, as real estate mogul Donald Trump endorsed him for the party's presidential nomination. The former Massachusetts governor, who scored a major win in Florida on Tuesday, was back on track a day after stumbling with an ill-judged remark about poor Americans, as the new ...
Read more...