Many people out there are worried about money management, and planning for their future, something that many of us just didn’t worry about previously. Its just that more and more corporations are filing from bankruptcy and with it goes your pension, and so this has created a lot of concern. Another reason people are so concern with money management is because we are living longer and we need to have more money set aside for retirement. So what do you do to earn this money, or save this money? Save it, put it under your bed, put it in the bank?
Even in today’s real estate market and probably in spite of the low real estate market, on of the best money management decisions you can make is to invest in real estate, at least this is what Dean Graziosi, real estate investor believes.
Even now in the real estate slump we have today, there seems to be a positive outlook for the future. Real estate will always increase in value over the long haul and there is no better time to invest than now, when the market is in a slump and sellers are offering all types of incentives.
Yes there are real estate investors who buy to flip a house in one or two years, but there are also investors that buy homes to sell in 10, 20 or 30 years, and use the money for their retirement. Some people even buy property for other large investment needs they might have in their lifetime like that of funding children’s educations.
The downward turn in the real estate market can be beneficial to you. In this type of market you can get a good deal or help from a seller, incentives, help with closing costs, etc. And in twenty or thirty years the real estate market is sure to have turned upward, letting you have a great return on you initial investment.
According to Dean Graziosi, you should ask yourself a few questions before starting on your real estate investing path to success.
- Figure out whether can invest long term without having to make any kind of an income on that investment
- Do you need short term income from your investment
- Can you continue to put more money into your investment or do you want a one time real estate investment
Answer the above questions truthfully and ask yourself what kind of property would you be interested in. Choose a property that you would consider interesting to other potential buyers too.