Real estate is a speculative market. Curt Cloyd explains that for many, the collapse of the housing market was the biggest disaster to have hit us since the Great Depression. For others, however, it was an opportunity to start investing.
Curt Cloyd Can Help You Build A Real Estate Empire By: Curt Cloyd – Director Personal Wealth Academy, LLC Real estate is a speculative market. Curt Cloyd explains that for many, the collapse of the housing market was the biggest disaster to have hit us since the Great Depression. For others, however, it was an opportunity to start investing. After all, if you have the finances ready and available, why not buy properties now that they are going cheap? So, if you also want to become involved in real estate investing, Curt Cloyd has a number of tips that you can follow to make the most of your money. Hopefully, by following these tips, you will be empowered to make better financial decisions. Be Creative The first thing you need to think about is creative financing. Curt Cloyd as many useful tips that you can use for this. What you need to remember is that financing a property is not the same as buying and selling stocks, where you need to have a clear profit margin. So, first you need to think about what you want. Do you want to buy something and sell it on as fast as possible at a low profit? Or do you want to buy and become a landlord, slowly paying your property off so you have a nest egg at the end of your mortgage? If you do want to flip - buy and sell quickly - you should find a low interest mortgage with an adjustable rate and low or no early repayment fees. Fixed rate mortgages are better for long term investments so that you are able to repay your mortgage comfortably over time. It isn't about quickly paying off your mortgage either. Remember that the rent you collect should cover your mortgage payments, so you don't have to be in a great hurry. Do make sure you lever the tax benefits, including valid expenses and depreciation. Do Things Yourself when Possible The biggest amounts of money in real estate are lost or gained in areas where you can't even see it. Curt Cloyd explains that it may sound great to be able to say that you sold a property at a $10,000 profit, but not when you consider the lawyer's fees, the costs of repairing the property and the advertisement fees, which can often work out to more than the "profit" you thought you had made. However, in order to make a profit, you are likely to have to make some improvements to the property. You can hire a professional to do this for you, but if there is anything you can do yourself, you should certainly consider it. Of course, you have to stay away from piping and wiring, unless you are licensed to work on those yourself. Curt Cloyd also explains that it may be beneficial to work with a property management company, but generally not until you have at least four rental units. These companies take between 10% and 15% of your monthly rental income, which may be an amount you could put to better use yourself. On the other hand, you do also have to put a price on time. This is why you should certainly consider working with property management companies once you have multiple properties. Without them, you would be so busy with finding tenants, performing repairs and collecting rents that you would have no time left whatsoever. There are a lot of things you can do yourself. If you do have to outsource some of the jobs, make sure that this is clear in your budget and profit calculations. ©2012 Personal Wealth Academy LLC http://personalwealthacademy.com When You Should Seek Help The problem with doing things yourself is that you also have to be able to recognize when you are unable to do something by yourself. Trying to do things you are not capable of can cost you a great deal of money and Curt Cloyd advises you to make sure you understand your own strengths and weaknesses. If you do something yourself but do it wrong, it will not only cost you more money, but it will also cost you more time. This can become a vicious cycle, because it may even mean that you are unable to rent out or sell your property as quickly as you would have liked to. In these cases, it would have been a lot more prudent to hire a professional, as you would actually save money. So, one of the best tips you can get is that you need to be realistic about yourself and your capabilities. Understand the Market The real estate market is hugely competitive. You need to be able to understand current market trends, which is something Curt Cloyd can help you with. Remember that the real estate market has been around since we were cavemen, so there are people out there who have been in the game far longer than what you have and they know their stuff. They will stop at nothing to ensure they make bigger profits, even if it is to your detriment. So, study and study as much as you can. Look at house prices, the fluctuation in supply and demand, where properties are being foreclosed upon, what the mortgage market is doing and so on. This sort of information is available from companies like Curt Cloyd. You must become a specialist in the housing market. Again, be realistic. This knowledge isn't going to present itself overnight. However, through companies like Curt Cloyd, you can certainly get a heads up in the game. Remember that for many, real estate is a game, in the same way as Poker and Black Jack are. Making Real Investments What you have to remember is that you are trying to build a real estate empire. Of course, as Curt Cloyd explains, an empire isn't dictated by size, it is about the hard work that goes into it. You need to make sure you have good business principles and that you see your properties as a product. When you buy a product, you expect a certain amount of service from the company that sells it and you expect performance from the product. This is what your tenants will expect from your homes. Curt Cloyd has used his vast amount of knowledge to form Personal Wealth Academy. Their sole purpose is to to guide, advise and nurture real estate investors so they can gain financial freedom and independence faster and easier than they ever could on their own. They accomplish this purpose by providing training on cutting edge real estate investment strategies and mentorship through expert real estate coaching services. ©2012 Personal Wealth Academy LLC http://personalwealthacademy.com
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