Some tips for real estate investors

**jamesrobartson** · 01-11-2011, 04:22 AM

There are some tips for real estate investors. I am sure that it will be helpful for investors...
1. Always allow the seller or contractor to be the first to name a price for anything.
2. Property taxes- thousands of property owners forget to list their real estate property taxes as deductible expenses every year, and end up effectively paying those taxes twice.
3. Legal counsel and landlord forms.
4. Pick one small area of town, and specialize in one preferred type of property. Once you know the market for that area and the quirks of that
type of property you can more easily expand to other markets.

**ryanhmt** · 01-12-2011, 04:36 AM

You have mentioned really good points here. But above all we must stay focused on our ultimate goal!

Thanks for sharing!

**byHomeOwner** · 01-12-2011, 09:45 AM

Always lots of great tip threads on the real estate forum. Thanks for sharing these ones.

But could you expand on tip #4, picking a small area of town to start. Would that not create a lot more localized market risk rather than buying good property spread out?

**OClife** · 01-13-2011, 12:15 AM

Some valid points here, I agree about the property taxes. Some people see right past them and forget to take advantage.

**jumpingspidermedia** · 01-13-2011, 04:31 PM

Those tips are valuable and I would say that one should know those tips! Especially in the legal aspect and as well as the taxes!

**antoinette** · 01-14-2011, 11:24 AM

I think these tips are very helpful for the real estate investors specially that tip about double payment of property tax is great one.I really appreciate it.Thanks.

**vijendrasnv** · 01-17-2011, 12:53 AM

Real estate investors should aware of all the things that are necessary so that they can better work according to the situation.

**jamesrobartson** · 01-17-2011, 01:29 AM

Originally Posted by byHomeOwner

Always lots of great tip threads on the real estate forum. Thanks for sharing these ones.

But could you expand on tip #4, picking a small area of town to start. Would that not create a lot more localized market risk rather than buying good property spread out?

I don't think so there will be risk because in this point the other thing is specialization of type of property like single family homes or duplexes and in any case if investors got loss then it will not be a big loss because he is investing in small area of town.

**Nicole Mockson** · 01-19-2011, 11:03 PM

Always show to the clients your transparency and willing to help them. Help them in the sense that you sell your property in honest way and no hocus focus deal.

**jamesrobartson** · 01-24-2011, 01:05 AM

Some other points are -
1. Make sure the real estate agent you contact is an investment real estate agent. They will be an asset to you in the negotiation process and in making that first proper offer.
2. And also be prepared for worst case scenario. Actually, nobody really wants to look at this possibility. I think every investors should run a worst case scenario and if you conclude that you can come out whole, you've got something worth considering. Look for investments and strategies that, if all else fails, you can walk away from with your principal in hand.