Why Invest in Real Estate?
More of today’s millionaires have made their money through real estate than any other means. Is real estate a get rich quick concept? No. Successfully investing in real estate involves a long term vision; one which will provide the “investor” with cash flow and abundant wealth if the “program” is viewed from a long term perspective.
Today’s market correction, the rise in short term interest rates, tighter lending guidelines and the foreclosures taking place today make for a most challenging time to own real estate. All this “market news” has created a great opportunity for property owners and would-be property owners. Not only could today be termed, “The Great Buyer’s Market of 2007”, but it is also going to be an outstanding market for landlords who own rental real estate.
As interest rates and the number of foreclosures increase, and the lending guidelines make it more difficult for buyers to qualify, you can expect a sharp increase in the number of renters in the marketplace. More renters create a shortage in rental housing. A shortage in rental housing means increased rents. This is great news for owners of rental property. Expect occupancy rates and rents to increase over the next few years! Today is an absolute spectacular time to buy and position yourself in a market that is beginning to produce rising rents. Within a short time, property values will once again begin their climb upward, and those who bought today in what was perceived by many as the “worst of times”, will be smiling as they see increases in both their valuations and their cash flow.
Foreclosure & Short Sale Investing
Foreclosures are hitting record levels and more are forecasted over the next year. Those who purchase real estate over the next year when it is radically on sale, place a renter in that property and hold it for 5 years or more could make a fortune.
Where does one find these great deals? How can you take advantage of these incredible buying opportunities as they become available?
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