The Time To Invest May Be Now

By on January 12, 2007

(NAPS)- Home prices aren’t appreciating as fast as they were a few years ago. Time to get out of the real estate investment game, right? Maybe not. When it comes to playing the stock market, the mantra on Wall Street has always been “buy low, sell high.” The same advice applies to real estate investment. If you have the income to cover an additional mortgage payment, you may be able to lock in a great investment property at a low price and low interest rate. Rates are near their lowest point in 40 years. Right now there is a robust seven-month supply of homes for sale on the market, making it a buyer’s market with many sellers willing to make a deal. Before you sit down with the Sunday paper and a highlighter, take a few minutes to understand how to succeed in property investment. Quicken Loans, the nation’s largest online lender, offers “The ABCs of Successful Real Estate Investments.” The ABCs of Successful Real Estate Investments Assess Your Market. Location really is everything. It determines how many tenants and buyers are available and it makes a difference in your profitability potential- so learn everything you can before settling on a market. Be Prepared. Talk to a reputable mortgage banker who can get you prequalified today, so when you find your investment property, you’ll be ready to make an offer. Cash Reserves. Having funds for repairs and other expenses is a necessity. All profitable businesses need cash to operate effectively. Again, work with a reputable mortgage banker and discuss the possibility of financing your investment property using a mortgage program that minimizes your risk and monthly out-of-pocket burden, such as an interest-only loan. You can also find useful tips on purchasing and refinancing a home throughout Quicken Loans’ Web site, www.QuickenLoans.com.

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