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5 Tips You Need to Know before beginning in real estate investment

Real estate investment can be a lucrative venture if you do it right. Knowing how to determine if a property is a good investment and knowing a bit about the real estate investment process will take you a long way as a beginning investor. Location, market, age of home, condition, potential improvements and LOCATION LOCATION LOCATION are all important factors. 

Before you do anything - you must decide how much money and time you are willing to put into the real estate investment venture. Once you determine these factors you can begin moving in a more specific direction. Here are the five basic steps that you should consider when beginning real estate investing:

1. A budget will be most important and must be set up front. If you want to invest a few thousand dollars, then a real estate investment (REIT) fund is a good option. Direct investment requires tens of thousands of dollars.
2. Do some research. Look for neighborhoods in good school zones, or ones with steadily increasing values. There are many homes on the market labeled "handyman special" which could be a great investment for the right buyer.
3. Buy Low and Sell High is the name of the game. Investing with sweat equity gives you value-enhancing improvements with a non-monetary contribution. Leverage your time to increase your revenues.
4. You must have cash flow should any issues arise. This fund will come in handy if you need to take care of issues promptly.
5. The last step is perhaps the most important. You must be prepared and ready for anything. The real estate market ebbs and flows and the more you know in advance the better off you will be. You may need a healthy dose of patience for the right buyer to come along.

Real estate investment can be lucrative. However you must do your homework upfront and understand all that goes into it. When you are ready to delve into the real estate investment game give the experts at Tampa Bay Realty and Investment Group a call. Our experienced professionals will help you choose wisely. Give us a call at 813-515-4882 or visit us on facebook: facebook.com/TBRAIGLLC/