Be Wise When Investing in Real Estate
By the end of 2004, there were an estimated 80,000 real estate investors enrolled in investment clubs.
You've probably seen the television shows on the networks that show how easy it is to flip a house. That is, you buy it, fix it up and sell it quickly for a profit.
However, with an unpredictable market, you may not be able to flip it quickly after all. The National Association of Realtors recently said that those looking to make a fast dollar in a home they recently purchased may be disappointed.
To invest in real estate, you must have a lot of business in order. You have to know that loss is a real possibility. You can't be looking for a quick dollar.
You need to start with having your personal home mortgage-free before you consider investing. You will not only have a home that won't be at risk if your investment fails, but you will learn what it takes to pay off a mortgage. There is a lot to learn in that process.
Then you need to get the correct information. Go back to school, take classes on the side and read everything you can get a hand on about investing in real estate. Don't turn to the informercials for information. Go to reputable and trusted sources.
Find yourself a mentor that will help you on your path. Look for someone who has been successful in the business for many years. Then start looking for a team of people to help you. You will need a real estate agent, contractor, go-to people, property managers and so on.
By the end of 2004, there were an estimated 80,000 real estate investors enrolled in investment clubs.
You've probably seen the television shows on the networks that show how easy it is to flip a house. That is, you buy it, fix it up and sell it quickly for a profit.
However, with an unpredictable market, you may not be able to flip it quickly after all. The National Association of Realtors recently said that those looking to make a fast dollar in a home they recently purchased may be disappointed.
To invest in real estate, you must have a lot of business in order. You have to know that loss is a real possibility. You can't be looking for a quick dollar.
You need to start with having your personal home mortgage-free before you consider investing. You will not only have a home that won't be at risk if your investment fails, but you will learn what it takes to pay off a mortgage. There is a lot to learn in that process.
Then you need to get the correct information. Go back to school, take classes on the side and read everything you can get a hand on about investing in real estate. Don't turn to the informercials for information. Go to reputable and trusted sources.
Find yourself a mentor that will help you on your path. Look for someone who has been successful in the business for many years. Then start looking for a team of people to help you. You will need a real estate agent, contractor, go-to people, property managers and so on.
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