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ACQUIRE PROPERTY WITHOUT RISK

There are a number of ways to acquire property without risk. We

list a number of the most important:

* Restrict the size of the investment and the amount of

indebtedness.

* Sell at a profit a part of what you have purchased.

* Buy only such property as you are willing and able to hold for

an indefinite period.

* Make an estimate of gain or loss probabilities before you buy.

* Withstand all pressure of people who try to induce you to sell

at a loss.

* Increase desirability of the property before you sell.

* Observe the effects of local improvements, movements and

activity. Develop ability to buy Real Estate with the greatest

potential for the future. The successful buyers of Real Estate

have a good knowledge of facts and laws, learned under a great

variety of circumstances. They realize the importance of making

investigations. They know economics and business conditions

locally and nationally. They study trends, growth areas and

property utilization. They have a correct idea of their own

personal finance limitations. They have a high degree of

interest, judgment and imagination.

* Adaptability, fortitude and a high degree of resourcefulness

are other attributes to successful Real Estate investing. Desire

for ownership and not being adverse to going into debt are very

important.

* If a property appears to be greatly under priced never quibble

over price. List all the significant advantages and disadvantages

of each property. There should be some reasonably outstanding

features that will generate enthusiasm. Decide to buy on the

merits of the property, not because someone is suggestive. If you

lose a good deal, a better one will come along. Resist

speculation fervor.

* If you are buying a property to hold for a long time, compute

the taxes, interest, insurance, etc. You will have to pay while

it is in your possession.

* Realize that when the market is good and the price is rising

you can always buy, but when the market is going down it is

difficult to sell. Don't sell too quickly and do not over-extend

yourself.

* Realize that increasing value of improved (homes buildings,

etc) result mainly from increasing population.

* If you are interested in making money investing in Real Estate

foreclosures, the best way to succeed is to develop a financial

plan based on your tax bracket so that you will know when to sell

off which properties and when to keep them for future increase in

value. You will need to recognize when there is "concealed"

equity in a property which is not visible to other investors.

Look for homes from 5 to 20 years old with potential net profits

of no less than $4,000 when you convert them.

* Know the laws in your state pertaining to the foreclosure

process. Look over all the small print in contracts. Most of them

favor the seller. If you are the buyer, have the contract changed

to fit your requirements.

* Be careful at auctions so that you don't get carried away with

the bidding; determine in advance the top you will go and stay

with it.

* Strive to locate and purchase distressed property before

foreclosure proceedings start and you can generally assume

conventional loans under the same circumstances as presently

exist.

* When you have purchased the property in a slow Real Estate

market, it is easier to sell since you have probably acquired it

at several thousands below the current market value.

* It can be good policy some of your property and keep some. For

example, if you can sell one-half of the property and get most of

your money back, you will be able to retain the balance for

future enhancement and use the proceeds of that portion sold to

speculate in other properties.

* Speculation is not all profit. As time goes by taxes and

assessments increase; some properties may have to be sold to pay

for such increases.

* The greatest deterrent to a person buying Real Estate is the

fear of making a mistake. Of course a person can't afford to make

many mistakes in Real Estate speculation just as in any other

kind of business.

* During a period of inflation, land is the best investment.

During a recession or depression, land is the worst investment.

If a recession appears imminent sell, even if on a contract for

a reasonable down payment and monthly payment on the balance. You

will have an income and also have the property as collateral. You

can be sure that as long as general economic conditions are

good, the value of well selected Real Estate will increase.

* Populations increase by birth rate and by influx. Check to

determine the past circumstances of the local economy, the demand

for public services and the future growth potential. The fact

that a city has increased in population is not significant in

itself. Perhaps there has been an annexation of adjacent areas.

Yes! By comparing, learning and using good common sense you can

profit in Real Estate regardless of recession, depression,

interest rates, or inflation! And without excessive risk!

 


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