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#401464 - 04/01/08 09:12 AM Investing in Real Estate
BellaDeb Offline
Zebra

Registered: 02/17/05
Posts: 3053
Loc: Memphis, TN
This week, I wrote an article on starting a Home Staging Business.

I think, if you have the money to invest, and time to wait out the economic dip, that now is a great time to invest in real estate.

In many cases, you won't be able to flip a house in a few weeks, but I believe prices are right for someone to be able to buy very low, hold on for a year or more, and then really make a good return on the investment.

Or, alternately, buy houses for rental properties. You could scoop up some rental properties at great prices, cover your costs for awhile, and then probably increase your rents or sell the property when the market goes back up.

Anyone care to share thoughts & experiences?
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#401895 - 04/02/08 11:55 AM Re: Investing in Real Estate [Re: BellaDeb]
Jilly Offline
BellaOnline Editor
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Registered: 02/26/03
Posts: 14392
Loc: Verde Valley, AZ
I want to do this too. See my other post in your home staging thread. smile

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#401997 - 04/02/08 03:12 PM Re: Investing in Real Estate [Re: Jilly]
BellaDeb Offline
Zebra

Registered: 02/17/05
Posts: 3053
Loc: Memphis, TN
I think this is a great business for someone who has the passion for it as well as the business acumen to make wise choices. And, skills and knowledge of repairs & decor certainly help!

For instance, now is the time to buy real estate--but only if you can hold on to it (i.e., have your investment tied up in it) for another 18 months or so. Unless you find a killer deal that you can spruce up & still sell below market but make a profit--there are tons of scenarios that would work, but generally, you need to be able to sit on a property (perhaps renting it out) for a long while.

Usually flippers need to sell in a very short time-period--weeks or months. So, beginners or anyone with limited funds needs to be wary of jumping in just because they can get good deals right now.

One way that would work and be smarter is to buy a fixer upper at a great price that you could live in for the next year or two in a market where you are sure you can bring it up to market standards and then sell when the market changes. That way, your investment is also your current housing and not just a money pit. If you can stay within your budget while making repairs, you could have a nice profit in a couple of years.



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