In my previous article, I discussed three big risks that anyone considering a real estate investment needs to know about. Although real estate investing can be hugely rewarding, if you don’t do your due diligence, it can also be a nightmare. Here are four additional risks you need to watch out for. (Click here to read about the first three risks.)
Historically, investing in real estate has been one of the best ways to build long-term wealth. Many of the world’s richest people made their fortunes by investing in properties. However, just as with any other type of investment, real estate investing is not without risk. Here are a few pitfalls you should be aware of before becoming a real estate investor. We’ve divided them up into two installments.
HGTV and other popular cable channels are flush with home renovation “reality” shows. They make it look both fun and easy to buy, fix up and quickly resell a home for big profits. While entertaining, the shows are obviously scripted for high viewership and ratings. Here are a few important things the shows omit or just get wrong.
If you hang around online forums for real estate investors, it’s easy to assume that everyone starts with residential properties, but if you really want to be a successful real estate investor, you need to move to commercial. It seems most investors believe that residential real estate is the kiddie pool and “mature” real estate investors turn to commercial as soon as they’ve accumulated enough experience and have access to enough funds. But is commercial real estate better than residential?
I love investing in real estate, and it’s been more profitable and personally rewarding than any other investment strategy I’ve tried. I’ve read a lot of books on real estate investing, and I’m occasionally asked to list my favorites.
If you’re thinking about buying an investment property but don’t have the cash needed in your bank account, don’t despair. Luckily, there are more financing options than you probably realize. Selecting the best option for your real estate investment strategy and particular situation can even save you thousands of dollars.
Creating multiple sources of income is a great way to ensure financial security. It beats being 100% dependent on your full-time job. A Google search will suggest many ways to earn income on the side. However, truly passive income is a category of its own.
You’ve certainly seen the term “401(k)” before. And it’s likely that you already have one set up through your employer. But what’s a 403(b)? If you’re wondering what this type of employer-sponsored plan is, who qualifies for it and how it’s different from a 401(k), read on.
For many of us, our home is the single biggest investment we’ll ever make. And just as we track the value of our other investments, it’s wise to assess the value of our main property (as well as any secondary properties we might own) from time to time. Of course, the value of any home fluctuates based on market conditions and other factors. So the question is: How do you determine the current market value of your home?