There is no better time than right now to make a fortune investing in real estate. I’m convinced anyone can do it, and you don’t need some $5,000 seminar to learn how. What you need is some straight forward, honest education and the willingness to take action.
In my 20 years of investing, I’ve met determined people who said they made the decision to be successful as real estate investors. Recently I asked one “investor” what progress he was making; he said “I feel I’m really close to discovering just the right place to invest!”
Hmmm…that answer made me wonder. It seems some people look at real estate investing the same way others look at buying stocks…”if I just had one hot tip I could get started!”
A perfect example of this is my friend Tony. Recently he called to tell me about a sign (stuck in the ground at a busy intersection) that read:”Costa Rica Investment Opportunity – 1st Phase –Apt Buildings Awesome Chance to Profit – call Now” 800-xxx-xxxx
Tony asked if this was a “good” opportunity or not? I asked; “What do you know about Costa Rica? Ever been to Costa Rica?” Other than a lot of Americans supposedly retired there, Tony knew nothing about Costa Rica, but the sign had struck a nerve in him. Tony is waiting for the “hot” investment opportunity. Something so good, that he just can’t help but take action on it.
Meanwhile, Tony, like many others, (perhaps even you), has been missing out on great opportunities right under his nose, in places where he would do well to make his first investment.
Here’s The Answer To Where You Should Invest I gave Tony the same answer I’ll give you. It’s exactly what I do myself, and it’s a simple strategy I reveal in my book, “Be a Real Estate Millionaire.”
I told him “Think a little closer to home. Take the local market test in chapter 4 of my book, and in minutes you’ll know where the market in you area is, where it is going…and what strategy to use to ensure little risk and major gains.”
You can do precisely what I suggested to Tony. Start by buying property in your own local area. You know the local area in way’s that no one else can. You know what areas keep growing, and the ones which are shrinking. You know which parts of town to avoid, and which parts have always been desirable.
As a local resident, you may already know about changes that could increase or decrease real estate prices in your area. Things like; the new shopping mall being built, a new freeway that’s coming through. You know if developers are building some new offices close by, (because you see the buildings or the signs).
What about factories and businesses? Are they hiring, or laying people off? Are there new ones being built in your neighborhood? Is a new company setting up shop close to you? These are things you’re already somewhat of an expert on. You know tons about the trends and patterns of your local real estate market without even really trying.
Another reason to buy in your local area is to more easily keep an eye on your property. If minor problems occur, such as storm damage or even routine wear and tear, you can spot, and fix those things right away. Its way more convenient to work on something that’s a few minutes from your home, than something that is across the city or in another state – (or another country…Tony).
Knowing The Real Estate Market Is Vital.You have to know the market to recognize opportunities when they show up. Even if you focus locally, don’t try to cover a HUGE metropolitan area.
It’s too large to understand and monitor easily. (Example: The Phoenix metropolitan area where I live has more than 5 million people. It’s impossible for even longtime residents to thoroughly monitor such a huge area, let alone understand it).
In a small town of 4000 people, it might be easier to know the entire area, but remember that population and geographic distance are two very different factors. Concentrating and capitalizing on what you know is how everyday individuals can enter the real estate market very quickly. Even a multi-millionaire, experienced real estate investor can’t track all the changes in a single city… let alone in your neighborhood. That gives you an advantage, just by virtue of living and investing where you are.
Become An Expert In Your Area
I recommend that you initially focus on a handful of areas that you can monitor and understand, such as those with a 10 mile radius of your own home. It’s easier to research and become an expert in the area you live in and drive by every day.
If you don’t like the area around you, take the time to research an area that you do like, (perhaps a place where you would like to live one day). If you can become an expert on a handful of various neighborhoods, you’ll know more about the real estate conditions in those areas, than any so-called experts.
Don’t Peek Over the Fence
One reason most people think about investing in real estate elsewhere is the “grass is always greener on the other side of the fence” mentality.
They want to chase a hot booming real estate market somewhere else. The problem with this strategy is the hot markets always cool down. You can chase hot markets all over the country and never get there in time. One day the hot market might be San Diego…a few months later it might be Phoenix, and the next time it could be Pittsburgh, Pennsylvania.
Chasing a hot market is a complicated and risky strategy. That’s why I always emphasize to my readers and students that making money in every real estate cycle is much better than chasing hot markets in other parts of the country. Once you understand how you can make money with real estate whether the market is hot or cold, you’ll know that you can make money right your own neighborhood – and you can make it right now.
Start by investing in single-family homes. They are more plentiful and easier to sell. You and potential buyers can get a wider range of financing plans for single-family homes than for any other type of real state. By sticking with single-family homes in your own area, you can ease into real estate investing and further minimize your risks.
Right Now the US Market is Ripe for Profits – But It Won’t Last Forever!
We’re in a “freak” down market caused by the crazy loans the banks allowed. This is truly a once in a lifetime market. Unprecedented numbers of homes are going into foreclosure, creating more chances to buy and profit from the glut of foreclosures than ever before. We’ll never see this situation again, (banks will not be allowed to offer the kind of loans they did in the last 5 years – the President is making sure of that!).
NOW is the time to take action if you ever dreamed of having true financial independence.
I believe real estate is the best investment available. It allowed me, a regular a small town guy with only a high school education, starting with no money, to live a life I once only dreamed of. I’ve seen it work for hundreds of people who have followed my step-by-step real estate investing plans.
It changed their lives from ones of despair and pessimism, to ones of hope and optimism.
I invite you to discover the money-making opportunities available near you. By reading my book “Be A Real Estate Millionaire: Secret Strategies for Lifetime Wealth Today, you’ll learn my simple secrets to get your own piece of this wildly profitable market. I tell it like it is in my book, there’s no hype or fluff. I give you all the tools you need to get started, and techniques you can’t find anywhere else. Every secret I know is revealed, because I sincerely want people to improve their financial future.
Don’t delay! Right now there is a fortune to be made – in your own back yard. Take action, read the book, take the test and discover how to easily buy local properties before anyone else does. Hey, who knows…your first deal could be just weeks away.