Three Real Estate Investment Tools You need to have

There are three real estate investment vehicles that investors must have and use. Each tool is common sense, but unfortunately not in use. Each tool can save you thousands of dollars or in terms of investment make thousands of dollars. One such tool is free and the other two only cost about $ 400 total. Take the tool belt off and make room.

Number one tool is to obtain a home inspection. I do not care if the house is brand new you need to be checked. The obvious reason is to protect yourself from major repairs and repairs that no amount of money can solve, but there is a reason for not so obvious. Getting a home inspection can help you get a better price for the house. The home inspection is a great bargaining tool. Let's say that after getting a home inspection repairs are estimated to be $ 10,000 dollars. You can now go back to both the seller and negotiate the sale price or get the seller to resolve problems. The other reason is peace of mind. I do not want to buy a house without knowing what's wrong with it. How can I make a good investment if the cost could be stranger? A serious investor knows the true cost of the investment before making such investments. Be sure to order a home inspection before buying.

Number two is a termite inspection tool. I live in the south and termites are finally going to invade a home. No matter what type of treatment you get on a house you will eventually get termites. The big question is what is the extent of the damage. Most houses in my area have small amounts of damage throughout the garage doors. The main reason you need a termite inspection is to protect themselves from serious damage. It 's easy to see the termites from the outside of the house, but almost impossible to see the damage inside the house. Do yourself a favor and get a termite inspection.

Tool number three is a home appraisal. I know what your thinking, not the bank take care of this. Yes, but their ordering an appraisal to protect their interests not yours. You must know the value of the house before bidding. To often people look around the neighborhood are buying in and get a ballpark figure. This is not good enough. There are several free online real estate valuation serrvices on the Internet and you should take advantage of each. It only takes a few minutes to get reliable estimates from these sites. Once you know that the property is worth it makes it much easier to negotiate.

Be sure to use all three tools religiously. Each tool will make money and make your investment dollar go a long way .......