Friday, October 23, 2009
Making Money in Real Estate
By: Scott Graulich
Buying and selling real estate is usually the largest single investment that any individual makes. Whether it is a home for personal use or an investment specifically for income, these transactions always involve personal emotions, risks, tax ramifications, and legal considerations. There are many pitfalls to avoid and lessons to be learned each time one completes a deal. That is why experience is probably the single most important factor in making a decision. In addition, people must learn to refine their negotiating skills, arrange financing, review many details, and consult with legal representation.
Real estate offers the individual an opportunity to become rich. However, it is not a one way street and many people have to foreclose on their properties or went bankrupt. Be careful-- It's not as easy as you think.