Real estate investing in Miami real estate is now becoming popular again as there are many properties in foreclosure, short sale, bank reo’s, and government foreclosures. With such an overwhelming inventory of homes available for sale a real estate investor must be able to determine which one to purchase. Investors must follow six steps in order to learn, understand and achieve Miami real estate investment success.These are the six L steps to Miami real estate investing:1. Location – Location, location, location is still the key of buying Miami real estate. Buying Miami real estate just because the price is low in a declining area is big mistake that should be avoided. Look for homes in an excellent location like, good schools, economic stable and growing neighborhoods, near shopping centers and malls, near bus stops and metro rails, near hospitals and restaurants. Sometimes it is better to pay a little more for a property in a good location than getting a bargain in a place where it is very hard to sell or rent the asset. Location is often overlooked in purchasing real estate as many investor think they can overcome a bad location if the price is low enough. Out of two homes that are exactly the same, the one in the best location will command a much higher sales price and rental income. Location is the number consideration when purchasing Miami South Florida real estate.2. Long Term – Real estate investing is a long term proposition. Don’t think you are going to be a millionaire over night. It takes years of hard work and dedication in order to succeed. Hold any property at least one year before selling it. Capital gain taxes will be greatly reduced. Consider renting the property for at two or three years. The rental income generated will help you to properly repair and renovate the property. Many investors purchased properties in the middle of real estate boom with no money down and no equity. These investors were thinking of flipping the homes fast and make a killing in the process. Many homes now in foreclosure are due to investors that were caught in the middle and now realize that real estate investing is very hard to time. Long term Miami real estate investing is the secret to a successful real estate career.3. Lease Option – Never rent a property with a lease option to buy. Either sell or rent it straight out. A lease option usually is a disaster for both buyers and sellers. The tenant will demand a large discount of the rent to go towards the down payment and closing costs. The problem is that tenant will not buy the property at the end of the lease and the landlord/seller will have wasted a lot of money in rebates given to the tenant/buyer. Demand a 20% or 30% deposit from the tenant/buyer and a clause in the contract that if they default on the purchase they will lose the deposit. This technique will force the tenant/buyer to purchase the property or lose the deposit. The risk of losing the deposit will eliminate the tenant from taking advantage of the landlord by walking out of the contract after receiving a monthly rental discount.4. Local – Buy real estate close to where you live. Don’t buy real estate in another state or in another country. Keep real estate investing local. Buy in your own county and in your city. The more you know about the area where you are buying the better the decision will be. The investor should always be close to the investment property. The Miami real estate investor should inspect the property often to determine any repair, roof and other problems. The landlord must inspect the property every month when collecting the rent. Check for the number of tenants actually living in the property, check for damages and destruction of the property and overall condition of the place. The investor/landlord will not be able to inspect and determine the condition of the property if it is located far away. Keeping real estate local is an essential step in real estate investing.5. Leverage – Most real estate books and seminars tell you to use other people’s money when purchasing real estate. This technique is not the best and buyers should try to buy the property in cash if at all possible. Buying a house in cash will help you get a better deal and allow you to negotiate from a position of strength. A cash buyer will always have the upper hand in negotiating with banks, property owners, and other sellers. Cash buyers will not suffer and go into foreclosure if the market turns and they are unable to sell or rent the house right away. Like Dave Ramsey always says “cash is king and debt is dumb”. Buying an investment property in cash is an excellent way to avoid Miami real estate investment mistakes.6. Learn – Research the property and learn everything about it before you buy. A mistake in Miami real estate investing can be very costly. Usually you make your money when you buy not when you sell. Buying the property at the wrong price the wrong place and at the wrong time could be detrimental. One mistake could wipe you out and put you out of business before you start. Ask questions to the experts, real estate agents, appraisers, mortgage brokers, and other real estate investors. Learn, research, educate yourself in all aspects of real estate investing before you purchase the asset.It is definitely a buyers market in Miami-Dade County. Miami real estate investors have more choices than ever before when it comes to real estate investing. Investors must follow the L steps, the 6 steps real estate investor guide to successful real estate investing in order to achieve their investment goals in the Miami real estate market.
HistoryIn the ruins of ancient Pompeii and Arabia, messages have been found with an emphasis on commercial and political aspects and themes. The Egyptians used a thick paper-like material called papyrus to create sales slogans and wall posters. This material was also used in various forms of advertising, such as requesting information relating to lost individuals and items, and was common in Ancient Rome and Greece. Another form of ancient commercial advertising include the paintings, on walls or even rock, depicting various scenes which are evident, even to this day, in many parts of Asia, Africa and South America. Indian rock art, which dates back to 4000 BC, may well form the basis for this tradition of painting on walls and rocks.With the development of the methods used in printing, particularly evident in the 15th and 16th century, the sphere of advertising expanded to include handbills. In England, during the early to mid17th century, various forms of advertising began to appear, incorporated within weekly newspapers. With advances in printing techniques, books and newspapers had become much more affordable to the wider public. As a result, this early form of advertising using a printed medium was used extensively to promote items such as other books and newspapers. Also, with disease ravaging much of Europe, the promotion of medicines was increasingly sought after.However, the existence of misleading advertisements, which had come to be known as “quack” advertisements, was becoming an increasing problem. Consequently, this brought about the introduction of regulation in terms of advertising content.With the growth of Western economies during the 19th century, this gave a new impetus for the growth of advertising. In the United States, for example, this led to the introduction and success of mail-order advertising.The French newspaper La Presse, in 1836, was the first to incorporate the concept of pre-paid advertising. This additional form of revenue allowed it to lower its price, which resulted in increased readership and higher profits. This led to the widespread adoption by all its competitors.In Boston, around 1840, Volney Palmer was the first to introduce what would later come to be known as the advertising agency. During this period, the French news agency Havas increased the services offered by including, for the first time in France, advertising brokerage. In the beginning, such agencies acted purely as brokers for advertising space in newspapers. However, all this changed in 1869 when N.W.Ayer & Son opened the first full-service agency, in Philadelphia, which took responsibility for all advertising content in respect of its customers.In the early 1900’s, advertising was one of the few career choices for women who wanted to progress in business. Since most of the household purchases were in the hands of women, it was quickly realised, by advertisers and agencies alike, the value offered by women in respect of their insight in relation to the creative process involved in advertising. In fact, the first American advertisement to employ a theme incorporating sexual appeal was created by a woman for a soap product, with copy that extolled the message: “The skin you love to touch”.Advertising – How To Succeed