Why do people spend money on real estate seminars, read every book they can find, and hire expensive coaches? It is because real estate investing can be the fastest way to financial freedom and everyone wants to learn how to make more money.
There are so many individuals living pay check to pay check living in the rat race. If you think that living pay check to pay check is fun than I feel sorry for you. You need to get out of that I am secure mindset and do something today. I believe that real estate is the best ways to become financially free and not have to worry about how you are going to pay the bills, worrying what things cost, cutting coupons, shopping at discount stores, and just being Broke! If any of these things hit home, then read on and learn how you can achieve your dreams. It does not matter if you are love real estate or know anything about it. Real estate can be an avenue for you to become financially free, so you can do other endeavors you want to do.
Real estate is a tried and true investment vehicle. In the long run real estate will, with few exceptions like the recent rescission, go up in value. In the short term real estate values can go up, down, and make your head spin in the process. There are places like Billings Montana where historically real estate has risen around 3 percent every real consistently. You do not have to worry about crazy swings over the years.
There are hundreds of different ways to make money in real estate today. You can buy and hold, fix and flip, wholesale, lease option, subject too, bulk reo’s or simply loan out your money. All of the other options are great and can be a great way to earn profit. Buying and holding strategy should only be used when you have some good cash reserve built up first. The buy and hold strategy is used to create long term wealth through rental property and rental income. Unless you have a lot of money saved up then start in other places and work your way up.
So if you are looking to just start out in real estate investing, I would recommend that you start off wholesaling. This method is simple and uses no cash a lot of times. All you do is find a property, get it under contract for a good price, and then assign the contract to another investor. It’s simple enough. Preston Ely’s wholesaling course is the best on the market today.
You can use this strategy to build up your cash reserves, so that you can start buying and holding for long term wealth. I recommend that you whole sale ten properties then buy a property to hold. Wholesale another ten and then buy one to keep. This way you will not become one of those land lords who is cash poor. You have to have substantial cash saved up to make sure you can pay for necessary repairs, make the payments if you do not have a tenant in the property and just have money if something unexpected comes up.
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