Real Estate Investing Flagstaff AZ

An expert shares the basic steps for investing in real estate.

Re/Max Peak Properties
(928) 214-7325
717 Riordan Rd
Flagstaff, AZ
 
Scott's Appraisal Service
(928) 774-0551
9931 Legacy Ln
Flagstaff, AZ

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Ginsberg Group
(928) 220-5012
1120 W University Ave Ste 200
Flagstaff, AZ

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Nicole Brule-Fisher, Realty Executives Southern Arizona
(520) 465-5770
6760 N. Oracle Road #101
Tucson, AZ

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Tierra Antigua Realty-Joel Garcia & Victoria Falcone-Camey
(520) 312-3064
1650 E. River Rd
Tucson, AZ

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Ron Gantz Realty
(928) 606-1913
2281 Ricke Lane
Flagstaff, AZ
Prices and/or Promotions
FREE over-the-phone consultation

Associates Unlimited
(928) 526-2121
24 W Route 66
Flagstaff, AZ

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Provident Partners Realty
(928) 286-9171
17680 S Munds Ranch Rd
Munds Park, AZ

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Tucson EcoBroker
(520) 275-2030
1650 East River Road
Tucson, AZ

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Robert J. Israel
(928) 273-2420
Steve Collins Realty & Property Mgmt. 9 Brookside Blvd.
Prescott, AZ

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Real Estate Investing

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Think real estate investing is just for old married couples featured in TV infomercials? Wrong! I was about 30 when I bought my first piece of property. It was a two-bedroom house in a quickly appreciating neighborhood in Orlando. It was the cheapest good quality house in the area, and I netted $30,000 by flipping (reselling) it eight months later.

I wish I had started investing sooner. The only reason I didn't invest was because I didn't understand the process. Now, I buy two more homes every time I sell one.

Here are the basic steps for investing in real estate:

1) Determine your strategy early: flip, renovation, or long-term rental. Do you want to hunt for something undervalued, hold it, and then flip it in the coming months? Are you a skilled carpenter, or do you know what's involved in a renovation? Are you willing to deal with a renter? If so, the renter will pay your mortgage and give you some immediate profit.

2) Interview realtors. Don't waste everyone's time looking at property with a realtor until you know you're with someone who is investment-focused. Most realtors will not be able to tell you the basic numbers you'll need on a property. A good place to research these is TheSRE.com, the real estate investor networking community.

3) Interview mortgage brokers. Once you find a realtor, ask for three broker recommendations and check out what your local bank or credit union offers. You'll want to know what each offers in terms of interest rates and closing costs. Bring a copy of your three credit reports to your meetings, along with a sample property (in the same price range), so they can run hard numbers....


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