You can use different strategies to grow your property portfolio. These include investing in rental apartments, single family homes, industrial property, retail real estate, office space, hospitality or overseas properties. You can also gain expertise in flipping houses, lease options, investing in off plan property or buying at foreclosure sale.
But these can never replace the fundamental principles of real estate investing. There can be various strategies and methodologies for creating wealth through properties but the principles of investing are eternal. I have seen many experienced investors who become over confident and violate these principles. They invariably suffer grave consequences. So please study the following fundamental principles of property investing with care. Some of the basic princples are:
* ‘Buy and Hold’ will Make You Rich
* ‘CashFlow’ Funds Your Real Estate Business and Gives You Peace of Mind
* Do the Math’s – Investing is about numbers and not emotions
* Location is the key to your success
* Always Buy From a Motivated Seller
* Use Other Peoples Money (OPM) to Fund Your Purchases
* Make Use of the Property Cycle to accelerate your growth
* Negotiate Everything
* Knowledge of Real Estate Investing is the Key to Success
* Take Action
A brilliant investment property is never seen with the eyes it is always seen by the mind.Thousands of people will pass a property and will see no any value in it. It takes an educated mind to understand what is the real value and potential of a property. Like anything in life education is the key. Believe me take action even if you have limited knowledge about investing. Think big but start small. A few small steps will change the out come of your life. Understanding and applying these basic principles are the key to success in property investing.
Article Source: http://EzineArticles.com/3901090
