McDonough, GA -- (SBWIRE) -- 08/28/2015 -- Well-known real estate investment expert, R.J. Palano, has shown thousands of people how to profit in the real estate market and his 4 key reasons for purchasing houses at any type of auction provides valuable guidance for investors. The property investment authority has helped novices and experienced investors learn the skills needed to acquire properties and profit from a wide variety of auction opportunities.
Many people tune into TV programs each week hoping to discover the secrets of buying a house and quickly flipping it to make a profit. Before bidding on any property up for auction, successful investors have a clear plan for the property and an exit strategy.
There are four key reasons for purchasing properties at auction:
- Keep it as a rental property in the investor's portfolio;
- Renovate it for sale to a private home buyer at retail pricing;
- Renovate the home for sale to another investor;
- Resell it at wholesale value in as-is condition to another investor seeking a specific opportunity.
It's critical for an investor to know what the ultimate goal for the home will be if they're to make a profit. Homes maintained within a portfolio offer continuous cash flow properties, which you can find at www.buycashflowproperties.com. Homes that need renovations can be lucrative as long-term rentals or for resale to homebuyers at prevailing market costs. Some properties are best handled with a minimum of renovation and resold to other investors.
A visual examination of the exterior and interior is an essential element in determining the condition of the property and amount an investor can pay and still maintain profitability. A structure that requires extensive repairs may not be worth the effort unless exceptional circumstances are present. An occupied home may also require the eviction of owners, renters or squatters.
There are multiple types of auctions available to investors. Properties can be obtained at annual property tax sales, during which investors simply pay taxes that are in arrears and the house is theirs. Homes can be obtained through mortgage foreclosure auctions when property owners default on their mortgage. People seeking a fast sale of their home for a variety of reasons also sell online through specialized platforms.
R.J. Palano's top four real estate tips provide investors at any level of experience with the essential knowledge needed to succeed in real estate investments. Palano's information is the first step when investing in property and defines the difference between failure and success.
For more information, Palano can be reached by phone at 813-435-1551 or by visiting R.J. Palano online.
About R.J. Palano
R.J. Palano has been a real estate investor for over 30 years and has acquired and sold or held literally over 1,000 properties. He has authored three books on real estate investing and has taught many other investors the secrets he has learned over his long career.