Success Insiders Welcomes Anthony Chara as an Expert in Apartment BuyingÂ—Avoid the Most Common Mistakes Made by Investors

(EMAILWIRE.COM, April 23, 2008 ) Memphis, TNÂ—Lance Hood, co-founder of Success Insiders, interviewed Anthony Chara, an expert in real estate investing. Lance was impressed with AnthonyÂ’s vast knowledge and success, so he welcomes as a featured member on the Â“ask our expertsÂ” page of his website at http://www.successinsiders.com/

Anthony Chara has mentored several hundred aspiring real estate investors. He also owns properties in Arizona, Colorado, Florida, Iowa, Nevada, North Carolina, Oklahoma and Tennessee. Current projects include pre-construction and commercial land developments in Florida, apartment buildings in the mid-west, and several multi-million dollar condo conversions in Arizona.
Three important tips Anthony advises investors of are:

1. Automatically assume the numbers provided by the seller are incorrect
2. Search for a certified property manager (CPM)
3. Be on good terms with the lenderÂ—he is your friend

The numbers provided by the seller are often incorrect. This is not because the seller is purposely misrepresenting the information, to mislead the buyer. For example, the amount the seller claims for the yearly income taxes could very well be true, but in many areas, as soon as title transfers, the taxable value is increased to the amount of the State Equalized Value (SEV), which can dramatically increase the new property tax amount. The longer the seller has owned the property, the greater the difference will be. Details on assessed values and property taxes, among other important information about the property, can be obtained through the tax assessor or the title company.

Anthony goes on to explain other important expenses one needs to look into, including utility bill and property insurance for the area. The area where the apartment building is located can make a huge difference in the amount paid for insurance.

A certified property manager (CPM) can provide information pertaining to average maintenance and repairs ranging from 4% to 15% according to the classification of the building. Certain documents can be purchased through websites that have lists for metropolitan areas for the entire country that provide data on the average fees for utilities, taxes, maintenance, repairs and insurance as well.

A solid relationship with the lender has its perks. The lender will also have a database with compiled information that is beneficial. The lender will carefully analyze the information to determine if the property is a good investment. When traditional financing is transacted the lender will have safeguards in place to help minimize any financial risks related to the property.

Visit at http://www.successinsiders.com/ to ask Anthony questions or to attend one of his teleseminars.

About SuccessInsiders.com

SuccessInsiders.com is dedicated and committed to helping people succeed in their personal and business life by providing access to millionaires and experts in wealth creation and personal development through interviews and other resources. With this type of resource, proper application and dedication, the chance of being successful is increased. SuccessInsiders.com will provide the ultimate in training and discovery by providing a team of experts from which people can learn skills in prioritizing and glean information via teleconferences and monthly interviews. SuccessInsiders.com will do whatever it takes to assist anyone on achieving their goal. People from all over the world can benefit from these strategies. This is such a great opportunity for people to expand their horizons by way of modeling someone by reading their books, watching their teaching DVDÂ’s, listening to interviews and much more.

CONTACT INFORMATION:
Heather Thomas
(641) 715-3900 ext. 7576941
support@successinsiders.com

Self Improvement, Wealth, Coaching, Millionaire, Personal Development, Success, Goal

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Success Insiders
Heather Thomas
(641) 715-3900
support@successinsiders.com