Investing in a real estate is not only for the rich. The key is finding a residential space which offers the right mix of quality, affordability and investment potential. Here are five real estate myths dispelled:
You cannot make real money in real estate unless you already have lots of money. You don’t need millions to start investing in real estate. What’s more important is an eye for choosing affordable yet prime properties, careful research, planning and access to easy payment terms.
Real estate is not a viable way to earn (versus stocks and bonds). Real estate investing can create more wealth than industries like Internet marketing and stock investing. More people ended up creating wealth through home ownership than stock ownership.
You need 20 percent of the cost up front. Each lender offers its own rate based on their set of standards and the type of loan. Rates change on an almost daily basis, so always be updated.
Real estate bubble with burst so investment will not be beneficial in the long run. A cursory survey of recent market trends shows that interest rates are still low and holding, baby boomers are still buying and selling, and that immigration will continue to grow. These are all indicators that it’s ideal to invest in real estate.
You have to take huge risks when investing in real estate. You actually have more control when buying real estate. As long as you can monitor the property’s value, you have significant safety margins for the investment that you are eyeing.
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Eric Hundin
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