Browse through the real estate section of any bookstore and you’ll find dozens of books promoting simple ways to make millions in real estate. Some make outlandish promises of immense wealth with “no money down” strategies. Upon further examination, however, some of these get-rich-quick books provide little more than hype and feeble attempts to sell additional software analysis programs at their own real estate investing conferences.
The truth is that there are many ways to make substantial profits through real estate investing. Leveraged income has been used successfully by smart investors in this country for two centuries. If you’re seeking financial freedom, it makes sense to have multiple streams of income, and real estate provides a great avenue for this. Developing a plan to suit your work habits and budget, also makes sense.
Why Not Everyone?
If anyone can make money investing in real estate, why isn’t everyone doing so? Basically, there are a few reasons. First, just because something sounds simple doesn’t mean it’s easy. Any simple real estate strategy requires you to go out and take action in order for it to work, and not everyone is willing to do the required research or work. Secondly, it takes knowledge to be successful at real estate investing. Third, you need to have available funding or financing to make deals happen. Again, not everyone is willing to invest the required time to learn the ins and outs of the industry, the finer points about contracts and market analysis, etc. If you are unwilling to invest the energy and effort and provide yourself with necessary information, real estate investing may not be your best path.
If you’re serious about real estate investing, make sure you know what you’re getting into. Before you sign a contract for any piece of property, learn about the area risks in the surrounding market and be sure you understand the true value of the property. Our HomeSmart Value Report and HomeSmart Report can assist you in gathering reliable, objective, statistically accurate information, to protect your investment.