Has the current real estate market turned you off to the idea of investing in real estate? If so, you should give it a second thought. When it comes to long term investments, there has never been a better time than now to invest in real estate.
Over the past few years, we have seen many real estate successes and blunders. The most popular type of real estate investing was called flipping. This was where an investor purchased a property and held onto it for a short period of time. During this time, the property was revamped and sold for profit.
Many people had great success with flipping homes; others lost a great deal of money. In fact, many of the foreclosures that we see on the market today were flips gone badly. The real estate investing frenzy created by the flipping buzz created a false economy that eventually imploded.
We are in a full blown real estate recession, but that does not mean that you cannot still make money in real estate. The best way to do so is the old fashioned way. Purchase a property and hold onto it. Use it as a long term investment. One reason why this is such a good idea is that homes always rise in value over the long term. This is due to inflation and the rising cost of living.
Real estate investments can also be useful for the short term. You can live in the home yourself or rent it out to others. If you are currently renting yourself, you are throwing your money away. You are paying for someone else to have a long term investment. You need a roof over your head. You might as well take advantage of all of the benefits that come along with owning real estate.
There are many other reasons why buying a home in the current market is attractive. Interest rates are very low right now. Lenders are also being more lenient. You may be able to qualify for a mortgage even if your credit is less than perfect.
How many empty and neglected homes do you pass everyday? How many are in your neighborhood? Any one of them could be a great bargain. Who knows, you could make a fortune off of one of them. You only need to see the possibilities.