Persuasive Speech On Real Estate

Someone once told me that if I wanted to make some real money, real estate was the ticket because it will only increase in value. It's proven to be a rather true statement. If you contact some of your local real estate offices and ask if they have rental properties available, you may be surprised at how many of realtors do have rental property. But, what's so special about rental property and why buy it? One good reason is that with rental property you can start making your money work for you. There are a number of tips and a lot of advice on how to go about investing.

The easiest and simplest thing you can do when starting out is look in the newspaper for low sale prices on houses, apartment complexes and manufactured homes. Get a loan through your lender or bank which will allow you to cover any expenses you may have in remodeling. Set your rental rates to be able to cover the rental insurance and payments. The idea here is to make money and not lose it; so keep that in mind.
Your state capitol will have your Land Commissioner's office and you should contact them for a book of published delinquent taxes on properties in each county of you state.
This is a book that is sent out quarterly, every three months; it's free to the public. Once you have this book in hand, contact your local real estate office to get a book from them that will contain land descriptions and locations. Research any property before you purchase it. This is the best tip for investing in rental property as it is exactly how the realtors purchase their properties. That's actually important knowledge if you are going to be bidding against these realtors with their deep pockets. After taxes have gone to delinquent status for 4 to 5 years, the state can reclaim the land and then will auction it to the highest
bidder.

Now, if you are looking to purchase a parcel of land with the intention of starting a subdivision like a mobile home park or to start building some houses then you will have a few questions that need answering first. A main concern is to find out whether city water and electricity are available. You need to know if the land requires septic or sewage tanks. And in the event that it requires a septic tank, will the parcel pass the perk tests? These are just a few of the important questions that you will need to have answered when purchasing a piece of property which I a vacant lot.

Another great tip for investing in rental property is to set up a home business. This is one way you can claim some great deductions when it comes time for income tax season. Repairs you do on a rental property that is also your home business can be written off. You will also be able to claim loss of income for each month your rental property is vacant.

Always keep in mind that you can't make money without spending some; don't be afraid of spending a little. Always make sure you thoroughly research as this will affect your family and your future. When setting up rental contracts or credit checks, contact an attorney. The list of things to do is endless, but you can enjoy yourself and invest wisely in the future.