The thought of Real Estate brings to mind dreams of riches and power. The lure to own property is enticing and powerful in that land and property are seen as being the everlasting all time business investment. While this may be true, everything isn’t always coming up roses in this market. Resisting the urge to follow the rest of the “fish” in the pond may seem to be foolish until you understand exactly what you may be getting yourself into.
There are at the very least, three different viewpoints that you can perceive the real estate market from. Each view can be a singular view or a view with multiple panoramas. This article covers some of the basic pros and cons of each position you can take if you do decide to get involved in the business of land and property ownership, (flipping), buying, selling and mediating (agent).
Note: In a low interest market with high interest rates you can sell your home every two years to make a profit. Use the profit to buy a better house and repeat your steps until the profit margin is where you want it to be.
The main attraction of buying real estate is that it is usually an extremely appreciable asset. Even in harsh financial times, real estates proves to be the bread winner of many major industries.
As a buyer you may have complete control to buy as you wish especially you own a real estate agency or fianancial institution.
As a sell by owner oprerator you may have complete autonomy to sell as you wish unless you are an agent.
As an agent you forego many of the hassles inherent to buying and selling and keeping to the ideals of your agent training.
As a buyer you may have to contend with many factors in order to make a purchase, such as taxes, paperwork, financing, inspections, and other legalities.
As a seller you must face the fact that you may not get your asking price or find that you must sell sooner rather than later depending on the market and your own financial status. You should make it a point to find out exactly what your property is worth.
As an agent you are subject to the whims of buyers and sellers whether you are independent or not. If you are an independent agent you must deal with the business matters that will result in you running your own business as well as keeping up with any industry affiliations that you belong to.
Making a Schooled Decision
Before making a choice as to whether you want to enter the real estate market, decide which role or combination of roles you will play. Devise a goal and create a plan based on that goal, only after careful and meticulous research into the market and its niches. Ask pertinent questions of others who have the information and experience you are trying to gain what there most common problems were and are and how they solved them or plan on solving them. Most of all, keep learning everything that you can about your chosen field. Remember, if it sounds to good or easy to be true, it most likely is. Anything worth having, especially success, is hard earned and not easily gained.
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Shinnelle L. Queensbury is a work at home mom who varied interest inspires her involvement in many activities. Visit her blog at http://www.anonymous.componga.com for a lighter and less serious touch of writing.