Finally, an article above Readers Digest but below Wall Street Journal – like as much as I do both periodicals. But as I’ve often said, ‘don’t get your financial advise from Woman’s Day and don’t get your cooking ideas from Forbes’.
The approach to real estate investing is not about jumping in or jumping out. Its not the sound bite on the 6 o’clock news. ‘You are NOT buying a candy bar’; this is your hard earned money you are investing so you can improve life a bit. This is the more in-depth approach I prefer to take. Having invested since my senior year in college, and being the son of a real estate broker who invested in 3 states and did quite well, I’ve bought, rehabbed, sublet, rented, built new, managed for self and others, and done it in about every kind of market and every season. As far as I’m concerned, as far as I’ve seen in the 34 yrs I’ve been at this, there is virtually always an opportunity in every market and at any time.
Sometimes its in a cash deal, sometimes its in the timing – time of year, sometimes equity and profit comes from improvements, other times subdividing land. Take a glance at the article or call me and we’ll chat further.
There are always questions you’ll want to ask yourself, eg:
- What do I have more of, time or money?
- Do I need cash now or want to save up for future period?
- Am I in a tax bracket that would be a better fit for setting up a separate holding entity?
There are many more.
If you are working with a professional, make sure they ask you some in-depth questions BEFORE they help you spend your hard earned money.
Article Link: http://e.house/archives/2593
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