Guide for Investing in Real Estate

When you are first starting out with investing in real estate, one sure way you can get a cheaper offer is to look for ugly or bad houses that need a lot of work.  This is because such homes are much cheaper to purchase, although to improve them and make them sell well, you will need to do some repair work. Start out by looking for houses that need some work, for example, houses that need clean up, painting, and maybe new carpet.  However, you shouldn’t buy something too run down, as it could cost a fortune to repair.

You can save a lot of money if you are a handyman and can do the repairs yourself.  If on the other hand you cannot do the repairs yourself but needs to hire someone, ensure that the individual or company you are going to hire is qualified to do the repairs. Find out about a company or subcontractor that will do the repairs for a reasonable price, a price that will not put a much financial burden on you.

If you find out that the house you want to purchase and resell has any type of structural problems, ensure you get an estimate of what it will cost you in repairs from a reliable contractor before you make the purchase.  If you are just starting out in this business endeavor, it is recommended you hire a contractor and as you decide to stay in the business, you’ll learn a lot more over the years.  Once you get all the needed information i.e. the estimates, you can then make the final decision on how much of an offer you want to put down on the property.

As you grow in the business after you must have had a team together and have successfully renovated and resold several homes, you’ll begin to feel a bit more confident with buying homes that need repairs.  All you need is time and practice – as you gain more experience you’ll be buying homes that the average investor wouldn’t think twice about.  With your experience, you now have a huge advantage when you are looking for homes to buy and resell because there will be less competition to worry about.  You’ll also be able to get a property at a lower price by using the cost of the repairs to your advantage.

For the investor who can do repairs on homes, including structural problems, such an investor will have a huge advantage in the market.  This is because the investor will be able to buy virtually any home, even those ones that other investors choose to ignore.  This can be very profitable for the investor, especially if the house is in a well known and well-desired location.

When you are on a search for houses that you can repair and resale, ensure you always take your time and buy to right homes.  You may not have the money, time, experience, or support to buy the bigger houses at first; as such you won’t have any room for mistakes.  Once you have purchased and resold a few smaller homes the level of your experience will increase, and you’ll eventually be able to work your way up to the bigger homes where the big profit lies.

And to make investing in real estate very smooth, easy and readily available and affordable for people of all works of life, here comes the world’s first global property platform on the blockchain – it is no other than Dominium. This is a platform that allows investors of all wealth levels to invest in a fully liquid marketplace and present a compelling, permanently transparent administrative solution for the property management industry.

You can now do your real estate business on the revolutionary blockchain technology, the advantages being that, because of the decentralization and impenetrable cryptography nature of blockchain, it has a huge potential to transform various aspects of the real estate business; particularly, MLS property data, title records, and transactions are three core areas that blockchain has the ability to transform regarding the real estate market.

Conclusively, if you need a more secure, speedier and trusted platform for buying and selling properties you should consider Dominium – the world first property platform on the blockchain. There is currently an opportunity for anyone reading this to be an early adopter. You can do that by participating in their ITO which is currently ongoing and will run for the next 46 days. You can learn more by visiting their website and download the whitepaper where you can read the project roadmap.

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