real estate investing isnt

MSN Money - The real risks of investing in real estate MSN Home Hotmail My MSN Sign In Money S earch MSN Money: Help Home News Banking Investing Planning Taxes My Money Portfolio Loans Insurance Investing Home Portfolio Markets Stocks Funds ETFs Commentary Brokers CNBC TV MSN Money Insight Jubak's Journal SuperModels Start Investing Strategy Lab Company Focus Mutual Funds Street Patrol Other Views Contrarian Chronicles TheStreet.com Resources Commentary Index Decision Centers Start Investing Mutual Funds Find Hot Stocks Simple Strategies Power Tools Investing For Income Real Estate Related Links Expert Picks Market Dispatches CNBC Stock Picks Message Boards Print-friendly version Send this to a friend Research any REIT Find top-performing mutual funds Sortable database of SEC filings Find stock winners with our screener Personal finance bookshelf Find It! Article Index Finance Q&A Tools Index Site Map The Basics The real risks of investing in real estate advertisement With prices soaring, real estate looks tantalizing -- but the margin of error is shrinking. Forget the get-rich-quick plans. Pay attention to the numbers. By Kiplinger's Personal Finance Magazine For Derrik Dyka, the biggest obstacle to successful real estate investing isnt a meltdown in property values or tenants who wreck an apartment or dont pay their rent. "Its overconfidence," says Dyka, a 34-year-old Minneapolis investor who turns old apartments into new condominiums. If youre expecting to cash in on the 21st centurys first gold rush without breaking a sweat, it would be wise to take Dykas words to heart. The margin of error for making money in real estate is closing fast. Its not surprising that real estate tempts so many Americans today. Over the past five years, home prices have soared and rags-to-riches tales abound. But so much real estate has become so expensive that Real Estate Research Corp. in Chicago reports that many real estate pros say now is a better time to sell than buy. As San Diego real estate investor Chuck Wise observes about the area where he operates, todays buyers are like "lambs being shorn." Start investing with $100. Explore our new ETF center. Of course, that doesnt mean that all deals are doomed to fail. But it does mean that its time for would-be investors to pay more attention to the perils of owning property, not just the potential profits. Watch your cash flow The most common entree into real estate investing is the single-family house. Investors bought almost one-fourth of all homes sold in 2004, according to the National Association of Realtors. If youre one of those buyers and your income from that property (after taxes) exceeds your expenses by $100 or $200 a month, youre in good shape. But because prices and property taxes are so high in many areas, and theres so much competition for attractive rental properties, its increasingly difficult to find deals that generate enough income to more than cover your expenses -- whats called positive cash flow. In areas such as the leafy suburbs of New York City and Boston, where a modest three-bedroom house can easily cost $600,000, theres no way you can collect enough rent to cover the steep property taxes and payments on a $500,000 mortgage. Figure monthly out-of-pocket expenses of more than $3,000, if not $4,000. The pool of renters who will pay that much is small. Related news and commentary on MSN Money • Nothing quick about getting rich with real estate • Do you have what it takes to be a landlord? • Don't bite off too much house • How to find a good investment property • 7 creative ways to buy your first house • Decision Center: Home financing So be ready to set your sights lower and get your hands dirty. Instead of a well-located home in pristine condition, look for a fixer-upper off the beaten track for maybe $150,000 that you can rent for $1,000 a month. The numbers work if youre willing to spend weekends, say, painting the walls and, if youre capable, making repairs that would otherwise require professional help. The hidden profit from home improvements is why "ugly real estate often makes more money than the nice stuff," says Kelley Pace, head of Louisiana State Universitys real-estate research institute. Mind the cap You can quickly figure out whether a house or condo is likely to generate positive cash flow. For more complex properties, such as a small office building or retail space, check the cap rate, a single number that can tell you if youre overpaying. The cap rate -- cap is short for capitalization -- is a propertys net operating income as a percentage of its price. The figure is real estates version of a bond yield. If a property sells for $500,000 and generates net income of $50,000 (rents minus expenses), the cap rate is 50,000 divided by 500,000, or 10%. The lower the cap rate, the more you pay for each dollar of annual income. In 2000, the average cap rate on commercial property in the U.S. was 10%. Since then, because of relentless price appreciation, the average cap rate has sunk to 8%. That alone suggests that wringing further gains out of commercial property is unlikely. If you want to invest in a commercial property, aim for a purchase price that results in a 10% cap rate. But remember that the cap rate also depends on how much you collect in rent. Ask the broker for details about the tenants leases, including how rents compare with those of other nearby properties and when the leases are up for renewal. The property should come with an information packet that is more like a stock prospectus than a real estate agents fact sheet on a single-family house. If necessary, hire a property inspector. Then take all the information to a lawyer who specializes in real estate. If you have any doubts about the property, walk away. Page 1 of 2 Story continues on next page Fund data provided by Morningstar, Inc. © 2005. All rights reserved. Quotes supplied by ComStock , an Interactive Data company. MSN Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances. © 2005 Microsoft MSN Privacy Legal Advertise Feedback Help

Buy Property

Learn About Buying español Put My Century 21 to work for you, simply register your email address and create a password. Once you're registered, you'll be able to • save property descriptions • store your search criteria • file agent information • build a custom library Find out more or register now! Already registered? Sign in . Learn about Buying -- Get ready to find the home of your dreams. Get tips on what you should look for, how to negotiate a great deal, how to protect yourself along the way, and more. Step 1: Defining What You Want Step 2: Figuring Out What Your Can Afford Step 3: Shopping for Homes Step 4: Making an Offer Step 5: Inspections and Insurance Step 6: The Final Closing How do I get the real scoop on homes I am looking at? -- What is the first step to buying a home What are some negotiating tips What contingencies should be put in an offer? Is it possible to buy a home below market price? How can buying my house help save money for my childs college education? More... Buying Your First Home Buying II: Advanced Topics Buyer's remorse Escrow closing The 72-hour clause More... ©2005 Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each CENTURY 21 Office Is Independently Owned And Operated. All rights reserved. Information appearing on this site has been produced by or obtained primarily from Century 21 Real Estate LLC and its representatives and from CENTURY 21 franchisees. Century 21 Real Estate LLC is not responsible for the accuracy or completeness of the broker information, sales associate information, listing information or other information provided by our franchisees appearing on or through this site. Such information has been provided by independent third parties who are solely responsible for such content. Certain conditions and restrictions apply to System promotions. Terms and Conditions of Use.

Florida real estate property

Sarasota Florida real estate - Bob Henley REMAX Properties Each Office Independently Owned & Operated 2000 Webber Street, Sarasota, FL 34239 Send Me an E-Mail Come Visit Sarasota With Me Office: Home Ofc: Cell Phone: Toll-Free: (941) 954-5454 (941) 966-9641 (941) 724-3352 (800) 966-2334 Find your perfect golf or waterfront Sarasota Florida real estate property in the Sarasota paradise of white sand and delightful golf courses with the help of an experienced Sarasota Florida real estate professional from REMAX Properties. Whether you are a first time buyer or an experienced investor, you will find useful Sarasota real estate information on choosing the "right" property, making an offer, negotiating, financing, mortgage rates, moving, and everything involved in making an informed Sarasota real estate decision in today's market. Search here for Sarasota Florida real estate and Bradenton Florida real estate. Search the sarasota Bradenton MLS database for golf course or waterfront homes & condos throughout the Sarasota FL area. Sarasota and Bradenton real estate listings are updated daily. As your dedicated Sarasota Realtor®, I'll help you buy or sell real estate in Sarasota, Siesta Key, Longboat Key, Osprey or Venice Florida to your complete satisfaction. Check my "Client Testimonials" page for referrals. [ Search for Homes ] [ Visitor's Guide to Sarasota Area ] [ Meet Bob Henley ] [ Home Buyer Info ] [ Home Seller Info ] [ Request Info ] [ Client Testimonials ] [ Learn About Real Estate ] [ Home Buyer Consumer Info ] [ Sarasota Area Golf Courses ] [ Site Map ] This website visited DSL Internet Service times since October 15, 2003 This Sarasota real estate website best viewed with a "frames enabled" browser. Sarasota real estate information provided here is thought to be accurate and timely but is not warranted. © 2003 - 2005 All names & logos are the property of their respective owners. All Rights Reserved. Click below to vote for this site as a Starting Point Hot Site. This website recognized as superior by Sarasota real estate website design by BerStan Web Creations Proud member of Int'l Real Estate Directory Other Real Estate Resources Real Estate Resource Directory Real Estate Resources AL - AR Real Estate Resources - CA Real Estate Resources CO - DE Real Estate Resources FL - GA Real Estate Resources HI - MO Real Estate Resources MN - SC Real Estate Resources SD - WY Real Estate Resources - Mortgage & Int'l Other Real Estate Resources & Services Reals.com Florida Realtors Link Partners.com National REALTOR Directory Real-Estate-Agents.com Scottsdale & Phoenix Real Estate Connection Relocation Referral Network InternetRealtyNetwork.com

Denver Real Estate Site

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real estate investing buy

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