Spirepoint Inc.

January 18, 2010 08:01 ET

Reminder: 7 Guaranteed Ways To Lose A Fortune In Real Estate

Attention: Business/Financial Editor, City Editor, Education Editor, Home/Garden Editor, News Editor OTTAWA, ONTARIO, REAL ESTATE INVESTING--(Marketwire - Jan. 18, 2010) -

With many investors looking for safer alternatives to the stock market, and the Ottawa real estate market currently red-hot, new real estate investors often make very costly mistakes. There are 7 common ways that make losing a fortune almost guaranteed:

* Mistake #1: Buying based on emotion - Buying an investment should be based strictly on numbers. Emotions will always cause them to pay too much.

* Mistake #2: Not fully analyzing the investment - A full financial analysis is required to ensure it produces positive cash flow. Skipping this can cost money every month.

* Mistake #3: Being pulled into a bidding war - The best deals are found when there is no competition. A bidding war virtually guarantees they'll pay too much.

* Mistake #4: Not verifying income & expenses - Buyers should always verify the numbers provided by the seller - 99% of the time they are inaccurate.

* Mistake #5: Not buying at a discount - Top investors make their money by purchasing at a discount from the market value, resulting in instant profit.

* Mistake #6: Giving property managers full control - Beginners incorrectly assume property can be 100% passive. Smart investors control costs by managing the manager.

* Mistake #7: Waiting too long to make a decision - Great deals usually only last 24-48 hours max. The best investors know how to identify a deal and act fast.

A local real estate investment and education company, Spirepoint Properties, offers investor training programs that cater to both beginning and advanced real estate investors. They are offering a free 2-hour seminar on Thursday January 28th and Saturday January 30th, 2010 that will explain how investors can how to avoid these costly mistakes and more.

Investors are welcome to sign up for the free seminar at www.spirepoint.ca/mistakes6 or by calling 613-860-8008 xtn 1.

/For further information:
Spirepoint Inc.
275 Slater Street, Suite 900
Ottawa,Ontario K1P 5H9

Phone: (613) 860-8008
Toll free: (866) 702-8008
Fax: (613) 822-5170
www.spirepoint.ca

/ IN: EDUCATION, FINANCE

Contact Information

  • Diana Thibodeau
    Primary Phone: 613-860-8008 ext. 155