There are several shows on television that feature people buying properties and then flipping them after minor repairs. Many people make a profit doing this, but if you really pay attention, you will often only see what the house could make the owners. The shows often leave out when and for how much the home sold for.
Many of the richest people in the world started out in real estate. That’s why real estate investment is so popular. But what are some essential things you should know before jumping into real estate?
1. Know how market timing works.
This means that you need to not only research how market cycles work, but that you need to sit back and watch them for yourself. The fact is that markets go up and markets go down. A lot of successful investors aren’t looking for a three-month buy and flip. They buy when the market is low and sell when it is high.
2. Know how to analyze real estate numbers.
You have to be able to identify all of the factors that are affecting your profit.
There are four major parts of real estate investing: cash flow, appreciation, loan reduction and tax benefits. You need to understand how the...
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