Coming as close as you can to the old tried and true saying..BUY LOW and SELL HIGH gives you a glimpse of perfect timing. Yes, there are seasons in Real Estate. Right now it is a sellers market and we just came off a buyers market. Trying to navigate successfully in the seasons and markets takes expertise, luck, experience and a good team. However, there are no guarantees in life
PLACE YOUR BET?
Perfect timing would be where investors sense their product isn't moving for top dollar and decide to lower their prices and at the same time this happens when the interest rates are hopefully between 4-6% and you happen to have a good credit score and down payment money lying around and all this meets up at a nice property and successful business is done...All doable but.....Too risky
FIRE THAT PISTOL
Sometimes just leaping without looking produces good results too. THINK: He who hesitates is lost. People who think or analyze or just plain don't know and play the "take your time" card lose out all the time. Doing homework is always a good thing but at some point, can you PULL THE TRIGGER? That is what it will take to play and win and not just play
HIT THE GROUND RUNNING
I would not spend anytime on trying to FSBO (for sale by owner) or BBO (buy by owner) a Real Estate transaction. The learning curve is no respecter of persons and takes time. There is so much to know and question that by the time you get comfortable, opportunities can breeze right by you leaving you left-overs. Best approach is to HIRE-UP. Having a seasoned professional on your Real Estate team makes you an instant player
INCOME PROPERTY ISN'T TALKED ABOUT ENOUGH
Many successful and wealthy people know to put their funds in Real Estate specifically income producing product. The combination of return, appreciation and depreciation plus write-off is too good to pass on. Great place to park money is in Real Estate. Long term invest & hold strategy does not fail. Imagine a 4-10 unit place where it is just spitting out monthly income? Now imagine it paid off. Wow..a money tree!
LOOK AT WHAT MONEY CAN BUY
Always consider product in the best neighborhoods even if you don't buy there. You will see how you not only get what you pay for, but where your investment will end up and what it will look like in a few years. Sometimes that makes the asking prices worth it. If buying in a community that will transition, be sure to know which way it will go...up or down? Check the trends of the zip codes and neighboring areas
STAY PUT
If you are going to overpay or pay market value on a property, make sure you understand that you have to stay there for 5 years or more for it too make financial sense. The days of turning it over for a quick buck are fast becoming good stories to tell.
If you have money in your mattress and don't want to be a homeowner right now, then consider buying as an investment. There is no better place to put your funds right now for a living return on your investment. Look at some low entry homes to rent out.
Real Estate...it can work for you if you let it
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