Image by thinkpanama via Flickr
Despite concerns about problems with real estate, it’s still a good investment. Many people are afraid of it today, because they don’t see the kind of return that they enjoyed in the past. While it’s true that it’s harder to get rich in real estate today, there are many good buys out there. If you can get a lot of property right now, while the market is low, you can hold onto that property and do something great with it when the market goes back up again – and it will. Even if things seem a little dismal at the moment, you shouldn’t assume that the housing market won’t recovery at a later date.
The property you buy now, when things are very inexpensive in most markets, could become the property that you could rent out for a high price or sell for a bundle of cash in just a few years. In the meantime, you can rent it for a lower amount and do some work on it. Just be sure to get good tenants so that you don’t have to worry about them damaging the property or any of the hard work that you’re putting into it. It’s still quite possible to purchase houses and flip them for a profit, but it takes a little more skill and a little more time than it used to.
For people looking for their dream home, this is also a good time to make a real estate investment. In many areas of the country, houses are selling for about half of what they were selling for at the height of the housing bubble. Because the prices and the value will go back up in the future, buying inexpensively now means you can get a lot more house for your money and you’ll have more equity in it in the future.