Boomer Babes and Real Cougars

I've always heard that to be a successful investor, one must walk the plank alone and take the plunge against the current. That's a hard thing to do and probably why only a few are really successful at it. Today, foreclosures are rising and real estate values are plummeting. But it can be an excellent time to buy! Be practical and cautious before taking the plunge and do sufficient research.

Look for value. If you can negotiate with the property owner, it will be a win-win for both of you. After you've purchased your new house, be very economical and get several estimates before having any major problems repaired.  If your intention is to rent, make the necessary repairs and repaint. Update the kitchen, flooring iand bathrooms, if you can and in that order.   "Curb appeal" is important and the cost will add value. Get it rented, fast. Be sure to check out you new rentor as best you can and get a deposit.

I know there are many people that think being a landlord is fraught with ongoing problems, but you must remember that you're running a business. There is no business that doesn't require some effort. Gather a list of great repairmen that you can rely on and you'll find it's easier than you think. If you maintain the house, you can keep it rented a lot easier. You'll be glad you held on to that golden goose. It'll continue to lay golden eggs each month for a long time. Rising costs in materials and the growing scarcity of property will almost assure that your property will appreciate over the long term.

Energy costs are rising at significant rates. If you buy a home for investment, find one that is close to the center of town and has access to public transportation. Make sure it has at least three bedrooms and preferably more than one bathroom and is in the mid-price range. These houses will be easier to rent.

Don't go for a large house with too many extras. Those homes are difficult to rent or sell quickly and you certainly don't want to be caught with an empty house, over a long period of time.

Don't stretch your neck out too far. If there are any colleges or hospitals in your town, buy close to them, as that will give you additional insurance for keeping it rented, even when the economy is lagging.

Location. Location. Location. That is the absolute most important thing to remember. Don't be dazzled by a great house with undesirable property closeby or in a terrible neighborhood. You'll have to wait for the entire neighborhood to change over and that can take years.

As a rule of thumb, real estate closest to town or the city will escalate in value faster than homes further out. At some point, that neighborhood may change, but why be locked in, when there are many other opportunities and better investments. If you can't resist, be prepared to hold on for that property longer to appreciate and know you may not be able to sell as quickly if you need to at some point. 

Look carefully and don't hesitate to make an offer on a house you're interested in buying. Depending on the circumstances of the seller, he may well be ready at that very moment to sell. Be bold. Be a saavy investor and again, look at the big picture. China, Australia, Brazil and India are developing at astonishing rates and must expand their infrastuctures to keep up with the growth. Consider related basic materials needed for building, such as steel, cement and copper for wiring. 

Examine the financials of the largest development companies and commercial real estate companies in those countries and any others companies that will benefit from those areas of growth, such as suppliers. You will have the best chance to make better than average returns and you can watch your money grow thereby giving you a more financially secure future even in spite of the lagging economy we're currently experiencing .