subject: Common Myths About Real Estate Investment [print this page] Investment industry is a vast oneInvestment industry is a vast one. Real estate in particular is huge and consists of transfer of huge sum of money. Many think it is impossible to flourish in real estate investing. Here a few myths are busted to make it clear that real estate investing is like any other industry and needs no panic.
You got to be wealthy to be a realtor:
This is the most common myth. It is a myth for sure. It is not a requirement that a realtor should be wealthy to make money in this industry. If you are capable to find a good deal then the money will knock your door. If you run out of deals then you are in a soup no matter how wealthy you are. There are buyers for a good priced house. There should not e issued to get deals anyways.
You ought to spend a lot of time:
It is not difficult to make time for a business that can take your family to Disney world within a couple of deals. Make it a family affair to lookout for houses that are out for sale. At an average we spend four hours per day for useless stuff. This will make enough time for you to make great deals.
There is great competition:
There are too many deals available too. You cannot earn anything by just sitting in one corner. Look with wide opened eyes and listen with wide open ears. And hunt, you will get hold of exotic deals that serve as an appreciation for the efforts you take. There are scores of properties that are open for sale in the market. None of the realtor can go empty if he takes some effort to reach to make a deal out of them.
Realtors dont cooperate with investors:
A right agent will be a great source of business to you. They can provide you with great deals on a continual basis. This is possible when they get what you really want from the property and thus make you rich. There is mutual benefit between both the parties.
Real estate investing is a risky affair:
Land is the safest investment one can ever make. Stock market on the other hand is uncontrollable. Calculated risk is highly essential to make a couple of bucks. By gaining more knowledge about the industry and the way it works then you will realize that this it is not risky at all. But the education is a never ending process.
You ought to be educated before plunging into the industry:
There is never an end line for the learning curve in this industry. And learning is a process in itself. But it is not a rule that prior education is necessary. Although, the innate fire to acquire knowledge is a must, to flourish in real estate investing.
