All You Need to Know About Real Estate. Nishant Baxi

Need to Know About Real Estate

      Nishant Baxi

      © Nishant Baxi, 2019

      ISBN 978-5-0050-6569-8

      Created with Ridero smart publishing system

      Nishant Baxi

      What you need to know about real estate

      UUID: 027507d0-fbe2—11e9-a8c6—1166c27e52f1

      This ebook was created with StreetLib Write http://write.streetlib.com

      All You Need to Know About Real Estate

      Nishant Baxi

      1

      Table of Contents

      What You Need to Know About Real Estate 1

      Introduction 4

      Chapter 1 5

      Getting Ready to Purchase a Home 5

      To Buy or Lease a Home 5

      Understanding Your Credit 6

      Can You Afford a Home? 6

      Fear of Investing 7

      Initial Investments 8

      Knowing the Market 9

      Finding a Real Estate Team 9

      Home Owner’s Insurance 12

      Chapter 2 14

      Loans 14

      Loan Prequalification 14

      Ten Loan Terms That You Must Know 15

      Deciding on a Loan 17

      Types of Loans 18

      Balloon Loans 18

      Interest Only Loans 19

      Home Equity Loans 19

      Home Equity Lines of Credit 20

      Loan Divisions 21

      Chapter 3 23

      Real Estate 23

      Types of Real Estate Investments 23

      Finding Your Dream Home 24

      Your First Home 25

      Preventing First Home Downfalls 26

      Profiting from Real Estate 27

      2

      Becoming a Landlord 28

      Flipping Properties 29

      Partnership Investing 29

      Protecting Your Assets 30

      Advantages of Owning Real Estate 31

      3

      Introduction

      Purchasing a home can be a very challenging task. It is hard to know how much you can afford to spend on a home and it can even be frightening to think that you may not be able to afford a home. There are also many other questions that you have to think about when purchasing a home.

      Is the market is good for buying a home?

      Do you need the assistance of a realtor?

      What type of loan is best for me?

      Are you purchasing a home to live in or to try and turn a profit?

      What tax advantages are there to owning a home?

      This eBook will serve as guide to assist you when it comes to purchasing a home. We will talk about how to obtain good credit, finding a realtor to assist you in finding the perfect home, the different types of loans that are available, and how to invest in property and turn a profit.

      It does not matter if you are purchasing your first home, or if you are looking for property that you can turn

      a profit on, this eBook will provide you with the information that you need to make any real estate buying experience a good one.

      4

      Chapter 1

      Getting Ready to Purchase a Home

      Many people think that all they have to do

      to purchase a home is find one that they like, obtain a loan, and move in. Unfortunately, this is not how the home buying process actually works. There are many things that you have to do before you even set foot into an open house.

      To Buy or Lease a Home

      It is not always an easy decision when it comes to purchasing a home, you have to know exactly what you want or need before you decide to make an investment. It does not matter what is going on in the market, you will always have an option when it comes to purchasing or selling your home.

      If you want to get into the real estate market, but you are not ready to make the big leap and purchase a home, you could always lease a home instead. In fact, this is a good step for many people who are not quite ready to purchase a home. One benefit is that you will have lower payments when you lease. You will also be able to build up your credit and increase your credit score. Many homes that are for lease will give you the option of purchasing them after a certain amount of time. This will allow you to live on the property for a while and decide if you like it before you purchase it.

      Leasing can also be a great option if you are trying to sell your home. You may find that you are having trouble selling your home and you do not want to have to pay double mortgages. Leasing your home is one option that will prevent you from having to make two mortgage payments every month. If you decide to lease your home, you will become the landlord for a period of time that will be determined by the contract that is signed by both you and the tenants that states all of the terms, conditions, and how much the tenants will have to pay each month. After the contract ends, the tenant will have the option to purchase the property from you.

      It does not matter if you are trying to sell your home or if you are looking to get in the real estate market without having to purchase a home, leasing a home can be a great option no matter what your situation may be.

      5

      Understanding Your Credit

      It does not matter if you are purchasing your first home, or if you are an investor and are purchasing your tenth property, your credit score will play a big role in getting approved for your mortgage loan. By properly managing your credit and understanding how your credit score will affect your mortgage, you will be able to make the most out of your investment.

      Before you ever apply for a home loan, you will want to check your credit report and verify that you have the proper credit score to be able to obtain the loan that you want. Your credit score is a number that is given to you by the major credit reporting agencies based on how good your credit is. The higher your credit score, the better your credit is. There are three major companies that you can obtain your credit score from and they are Experian, Equifax, and Transunion.

      By having a higher credit score, you will be able to get a better loan. Many lending companies will be more willing to work with if you have a high credit score and they will also be able to lend you a higher amount of money.

      The best way to get a high credit score is

      to be responsible when it comes to paying your bills. You will want

      to avoid having