First Moves for Real Estate Buy and Sell Business

One of the most interesting businesses these days to get into is the real estate market and specifically purchasing homes and refurbishing them. While the market is still in the doldrums, there are lots of good deals available around and if you are able to purchase some property 50% off the ticketed price, you can make money if you have a long term position and are liquid with cash. Here are some tips on how to get things started with realty buy and sell business:

- Survey the property that you are interested in. Look at the neighborhood and then look at the logistics. If you are buying property within the city, whether it is an apartment or a condominium, check out its location and its surrounding buildings. There are some neighborhoods that may seem creepy but actually is very central to the area. In the same light, there are some posh neighborhoods that may actually have units for sale, on a rush and cash only basis. Whatever the given price is, always haggle and play low ball. There should be some compromise in between what the owner wants and what you are willing to pay for. Always think of it as a business and you want to get the best deal possible. Be willing to walk away from it if needs be.

- Before the final purchase, have a housing contractor look at the place you are planning to buy. A contractor would more or less be able to tell you how much repairs you would need to make. It may cost you some money for his time, but you can use his comment to further negotiate the final price of the sale.

- Invest between ten to fifteen percent of the total sale on repairs and refurbishing. This is a variable that can also be used on properties that are relatively new and do not need any major repairs. This means you can add another 10 % of your original offer if you know the property needs no repair.

- When refurbishing, always change the front door knob. Change the front door knob to an upgrade. Try purchasing a keyless door knob entry, whether it be number code control or biometric. Having a good front door is a good impression. Go for name brands that you can trust which have the most up to date designs and technology in their products.