While many people are lamenting today’s ‘financial crisis,’ smart investors know that NOW is the best time to buy real estate for profit – everything is on sale! When you want a new DVD player or car or any other consumer item, do you buy it full price or do you shop around and wait for the best deal, possibly even waiting for a sale? It’s the deal or the sale, of course, if you’re like most people. So why wouldn’t the same principle apply to buying houses? Answer: It does!
The Challenge
Many people feel that investing in real estate is not possible for them, and we’re here to tell you that this simply is not true. While the subject may initially seem intimidating, with a little investment of time to learn the basics investing in real estate can be a profitable venture for just about anyone. Whether or not you have down payment money, whether you think there are deals to be had in your area and whether or not you are good with renovations or wish to be a landlord, there are real estate ventures that can work for you. Investing in real estate offers a universe of possibilities, and can be started with little to no money and just a little knowledge.
While we are not advocating you jump in blind, with the right team around you we know you’ll be off to great start and you will, hopefully, either be making a profit flipping homes or possibly enjoy improved cashflow through rental or other real estate income. Just consider some of the possibilities:
- Flipping homes ie. buying cheap or rundown homes, renovating them and re-selling them for profit
- Rental income eg. from apartments, duplexes and houses, basement apartments
- Income from land leases, space or storage rentals, etc.
- Commercial real estate eg. store and office leases, gas stations, laundromats
- Tax liens and foreclosures
- Refinancing and second mortgage investing
There are so many options available in the area of real estate investing that you would need a lifetime to study them. Luckily, by just delving into what interests you and learning more, you will find something to suit your needs, personality and budget, and from there you can branch out if you choose to. For starters, some intelligent reading – for inspiration and for information – will do. Try the following:
The Real Book of Real Estate – Real Experts. Real Stories. Real Life.
Real Estate Riches: How to Become Rich Using Your Banker’s Money (Rich Dad Advisor Series)
