Real Estate Investing Sedona AZ

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

Re/Max Sedona
(928) 282-4166
2290 W State Rt 89 A
Sedona, AZ
 
Shadowbrook Apartments
(928) 282-1871
145 Navajo
Sedona, AZ
 
Seven Canyons
(928) 203-2000
755 Golf Club Way
Sedona, AZ
 
Sedona Shadows
(928) 282-1232
6770 W State Route
Sedona, AZ
 
Lee Congdon - RE/MAX Sedona
(928) 300-5050
2315 Vista
Sedona, AZ
 
Buyer Brokers Realty of Sedona
(928) 282-2757
1350 W State Route 89A
Sedona, AZ
 
Ed Hanley - Coldwell Banker First Affiliate
(928) 300-7000
110 East Wing
Sedona, AZ
 
Cindy Newton - Coldwell Banker
(928) 340-5041
2165 Sanborn Dr
Sedona, AZ
 
Sedona Terrace Apartments
(928) 282-4587
50 Sombart Lane
Sedona, AZ
 
John D Miller Real Estate Services Inc
(928) 254-0303
1370 W State Route 89A
Sedona, AZ
 

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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