Some people who doubt that there is a right time to get started in real estate investing worry that there are too many people buying houses to find a deal. Competition is everywhere. If you can’t recognize that in business, race is normal then real estate investing is not for you. So if you see a lot of investors competing against you then know that it’s a rewarding business to be in because you are not the only one that sees the potential for profit. Plus, there are more than enough deals to make everyone rich, in due time. At any given time there are hundreds of properties for sale in your own local market niches, enough for each investor looking for them.
Real estate investors know that events such as the September 11th tragedy, the huge number of job layoffs and the decline in the stock market will kill the economy, and anything they buy will go down in value. Real estate this need not be the time to fold-up your tent and quit before you get started. Acceptable to be positive in investing, learn how to make money in “up” and “down” markets. Real estate strategies to utilize in both “up” and “down” markets to survive when the economy is bad or thrive when the economy is booming. And if everyone else is forecasting “doom & gloom” it only clears out the competition as you have more market share to profit from, as this is a good thing.
Real estate the main displeasures of the predictable, rental real estate approach is there’s just no money in it NOW, only after a long period of ownership. Real estate not enough spread between the incomes realized from rent versus expenses of mortgage payments and repairs for the investor to make any money today. Real estate barely get by in the early years of your property’s ownership. You’ve got to have other income to support your lifestyle. You can’t just count on the rentals to support you.
Real estate in the beginning you’ll be supporting your properties with your other income if you bought via the traditional way. That’s not too attractive. A lot of investors don’t have the stomach to endure the rough and tough financial stresses of the rental business. Even more so – people just don’t have the desire to hang in there to make it work, in due time. Thus, if you persist you will outpace your competition because they will no longer be in the business, and you will have no competition. Real estate business is a long-term commitment and over 80% of real estate investors – who have been in the business for that long, go on to become millionaires. What I’m saying to you is this: Stay the course, and you will beat most all of your competitors because you can ride the ups and downs of the market in the Real Estate Game, in due time.