To view this page ensure that Adobe Flash Player version 11.1.0 or greater is installed.
Success F inan ce
Follow these tips when investing in real estate to ensure you get the most out of your time, effort, money
T e x t by J o h n Cu n i ll
34 You makE Money when you buy. In other words, don’t
speculate on potential profits, try to buy at a bargain.
familiarize yourself with different locations and
understand the traffic patterns, public transportation, zoning laws
and other issues particular to an area of interest.
do your homework. If the price seems too good to
be true, it may be a flag of issues with the property.
check if there are additional fees associated with the
property, i.e., a homeowner’s association, private security or
buy property close to where you’re located. If you
need to self-manage your investments, at least you won’t
have the extra expense of travel.
if you work with a real estate agent, try to find an
agent who you’re comfortable with and stick with them…
jumping from agent to agent may not get you the service
you’d like to have.
9. don’T EVER throw good money after bad — if the investment
becomes a money pit, you may want to cut your losses, sell and
if you’re buying to re-sell, choose properties that have
general appeal to a broad market, this will increase your
potential buyers’ market.
if you’re buying a rental property, don’t over-extend
yourself in financing. If there’s a downturn in the rental
market, and vacancies become an issue, you may be forced to
contribute capital to cover the property expenses.
10. underestimate by 30%. This will make a buyer
and an investor conservative when calculating returns.
ABOUT THE AUTHOR
John Cunill is a Partner at The Law Offices
of Adorno-Cunill & Damas P.L. The boutique
law firm caters to clients who demand personal
attention from their attorney. The firm handles
Real Estate Law, Family Law & Civil Litigation;