Everyone wants a magic and
immediate path to wealth. The bad news? The path doesn’t exist. Wealth is
attainable through more conventional means. If you come to understand the real
estate industry and if you deepen your own firsthand experience as you buy and
sell investment properties, you’ll be on the road to success.
Along the road, there are
six core principles that will make or break each real estate investment deal.
They are the most important concepts you will learn. I call them the Big
Six. With each successive deal I negotiated, I grew to recognize
the common elements. The Big Six are part of a sequenced step-by-step formula
that enables you to identify and purchase the right income property at the
right price.
The elements of the Big Six
Formula that will guide you into the basics of buying income properties are the
following:
Location
Location is the single most
important component of any real estate deal. It is crucial in determining your
investment success. Look for properties that are situated in an “A” location.
Such locations include the socioeconomic levels of the people who live or work
in a particular neighborhood, its proximity to shopping centers, public
transportation, crime levels, the nearness of prestigious universities and
medical facilities, traffic congestion, zoning restrictions, the quality of schools,
fire and police protection, and even the reputation of the local government and
its officials.
Read more on... The
Basics of Buying Investment Properties
Author: Kenneth D. Rosen
