May 4th 2009

Investing in Real Estate

Investing in real estate is not for everybody!

Surprised that I tell you this.....?

It takes discipline, patience, and a very thick skin. You need to be able to take losses, defeat and have a clear goal in mind.

Not all of the investors turn out like a Donald Trump with a empire, but many of them who are investing the right way are doing fine and will make it though an up or even down market.

Today's market is ripe for the picking.

Some of the questions I have received from inventor I am working with:

Will it change again.....sure it will

Is the market stable now......the biggest foreclosure wave has not hit as of right now.

Do I need to wait......no, you can jump in right now, when you have the money and the time

Can I flip my investment right now.....I would wait just a bit longer for a flip, and you also need to keep other criteria's in mind when you want to flip

It does not come easy and it needs a lot of planning and adjusting to situations and circumstances beyond your control.

When you can take any of the above listed punches, and can learn to deal with the uncontrollable, then you might have the stomach for real estate investing.

I have written already several things about investing in real estate. One of my articles was called Real Estate Investing talks about getting started with the right Team, that has your back, when starting in investing.

You need to familiarize yourself with pre-approval and pre-qualification especially when you are planning to sell your investors to Mr. or Mrs. buyer but also when you are planning to buy a home with a loan.

When you can do your own remodeling or repairs, go a head and do them. When you have to hire a contractor please read the article I have written about Remodelers and Lead base Paint. From 2010 each general contractor who works on home build before 1978 have to follow some new guidelines that concern homes build before 1978.

In one of my future posts I will cover investing with your 401K and what is a 1031 Exchange and other questions that came over email that needed answering.

Bettina Settles