I was reading a book by Donald Trump, “The Best Real Estate Advice I Ever Received” about real estate investing and came upon a chapter talking about success in Real Estate investing.
Since we represent numerous investors in the Charlotte and Lake Norman areas, we felt ti was appropriate to share these real estate tips.
Buy and Hold – While flipping is what many investors try, it is risky business. Wealth is not usually made overnight in Real Estate. Buying and holding can create bigger long term gains.
Don’t sell, do a 1031 Tax Exchange – Many real estate practioners advocate that when you want to get out of an investment, trading up is the way to go. Using a 1031 Tax Exchange will defer your tax gains and save you money and will allow you to buy the next property you want.
Cash Reserve Trumps Cash Flow – Having both is the optimal situation but logic tells is that cash reserve eases of the pain of vacant properties and needed repairs. Having to deal with vacant properties or repairs have led to many many foreclosures and does not lead to wealth.
Hire Carolina Living Property Management. Ok we changed that one a little bit but one of the tips did mention hiring a property managment company you can trust. We feel we are that company!
Professional Services at reasonable rates
