Tuesday, June 24, 2008

Lake Norman Real Estate: Investors

Lake Norman Investors - Places to start

You always see all the house flipping shows on the television and sometimes you see people make large profits, and sometimes you see people having to move into their flip or take a loss. House flipping isn't for the faint of heart and isn't for everyone. Many people make the mistake of getting in over their heads. There are many things you need to look at before you get into Real Estate Investing.

- Are you comfortable being a landlord?
- Can you handle late rents from tenants?
- Can you make small repairs or afford to maintain the property?
- Is there a current demand for rentals in your market?
- Do you have the necessary funds?

It is always recommended that Investors visit a loan officer before searching from properties and to have an ASHI Inspector inspect the house prior to purchase when possible.

Places to search for your investment property.

- Bank Owned Property's or REO's
- Sheriff's Sales/Auctions
Things to remember for Sheriff's Sales
- No RE Commissions for Agents by seller
- Properties may NOT be inspected by the buyer
- Bidding typically starts at around 2/3 the appraised value
- Normally 10% down and must be able to close within 30 days
Mecklenburg County Sheriff's Auctions
Iredell County Sheriff's Sales
Lincoln County Sheriff's Sales
Catawba County Sheriff's Sales

- HUD Properties
Offers submitted online through states HUD Property Managment Firm
HUD will pay up to 5% of buyers closing cost if requested on offer

- VA Properties

- Probate Properties
Sold to settle the deceased owner's estate

See Also:
Entrepreneur - Top 10 Real Estate Businesses that are due to take off
NC Home Inspections
Charlotte/Lake Norman area Real Estate Maps
Lake Norman/Charlotte Area Homebuilders - New Construction
Why do I need an agent to purchase a home?
Tips for Selling your Home
Lake Norman Real Estate Info
Lake Norman/Charlotte Area Information Links

Contact your Lake Norman Real Estate Expert for more information on this post.

Jeremy Adair
Real Living - Davidson, NC
Cell: 704.315.8106
Fax: 704.892.9766

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