Some people want to invest in real estate for the challenge, while others want to accumulate long term wealth. Still others are in it to strike it rich in the gold rush of finding property. If this sounds like you, you have come to the right place.
The idea of investing in real estate can be daunting. It doesn’t matter if you plan to be a single homeowner, a landlord, a developer, or a house flipper. Many people are too afraid to take the chance and therefore, miss out on a lot of wonderful investment opportunities. Here are a few of the reasons why you should take the leap to Invest in Real Estate.
Being a rehabber or flipping houses isn’t as glamorous as the reality TV shows make it out to be. Behind every flipper is a detailed budget, flip timeline, bills to pay, contracts, negotiations, overseeing contractors and subcontractors, obtaining permits and the list goes on and on. Real estate can be an expensive proposition and deciding to purchase and flip a house can be a large financial responsibility.
During the housing market down turn around 2007, millions of home owners suddenly found their homes were edging towards negative equity and despite interest rates dropping to historically low levels, many homeowners still went under and could no longer afford to keep up their mortgage payments. Variable interest rates, new and unique financing options also had something to do with this, especially with first time buyers.
Location is very essential in real estate. Many of the additional factors, such as property condition can be changed. Properties that are contained by depreciating locales will infrequently be a wise investment. You want to scrutinize property values comprehensively in those areas that intrigue you.
If you want to close more deals, you MUST generate more motivated seller leads. It’s that simple. If you are not closing the number of deals you want to do per month, it’s because you are not generating enough leads.
Figure that you need 20-25 leads for every deal. Let’s assume that you want to close 2 deals a month, then you need to be generating 40-50 leads a month.
Nearly everyone that enters the Real Estate world in general has a desire to quit their traditional “day job”. However, knowing the difference between wanting to leave your day job and needing to is key to making the right decision for yourself and your family. What is even more important to know is that there is no set time-frame when this should take place. For some Real Estate Investors, this opportunity comes within the first 3 months, however, for others it takes 10 years. That’s a big difference, and a lot of different decisions being made during that time.