Sunday, January 22, 2006

How To Make Money and Not Lose It When Investing

People ask me, “How do you make money and not lose it?” First of all, you need write down what your needs and wants for your investments are. Do you plan to hold the property for a long time while renting it out to a tenant? Are you looking for a fixer that you can fix up and sell in 6 months or rent out? Do you want to own commercial property or a multi family housing unit? There are lots of questions that need to be asked before you jump into any investment. Are you an out of town buyer that doesn’t know the area? Some agents will just find you a house that is a deal. Afterward, you find out the mortgage is $1300 a month and the rents in the area are only $700 a month. Wow, are you are going to be in trouble with your CPA!! Even an in-town investor can have trouble from time to time deciding what they need or what they want. A good Realtor will know the difference and will help you put into writing what your long term goals are. If you have any questions about Real Estate investing in Oregon or SW Washington feel free to contact me anytime.

Todd Clark – broker
Kastings & Associates