Today’s market represents a challenge for real estate investors, but there’s still a lot of money to be made in real estate investing. If you’ve been thinking about real estate investing but you’ve been waiting for “the right time,” you may want to reconsider. There are plenty of reasons why you can (and should!) get started today, including:
- There’s no perfect time. While everyone likes to proclaim a certain period as “the perfect time” to get into real estate investing, the truth is that anybody can be successful. Real estate investing is all about knowing your market and making savvy investments – doing your due diligence goes a long way for budding real estate investors.
- Passive income accumulates over time. If you get started in real estate investing today, you’re one step closer to gaining passive income that keeps growing, even when you’re not putting money or work into it. A rental property provides you with great passive income – but only if you own it. Passive income is money in the bank, and builds up over time, so it benefits you to start building passive income as soon as possible.
- You have more opportunities now than ever before. Today’s market gives real estate investors more benefits than at any other time in the past. The market has a huge inventory of relatively cheap homes, and sellers want to work with you to ensure that their home sells quickly. Low interest rates and tons of foreclosures combine to make this year a great time to start investing in real estate.
- Sellers are willing to work with you. In the past, sellers didn’t stand to benefit from helping you out. Nowadays, many people just want to get rid of their home quickly, and are willing to do whatever it takes – from lowering the price to paying more of the closing costs – to get you into the house. An empty house is a seller’s albatross, costing them tons of money in upkeep and mortgage payments.
Although you’ll be up against challenges in the market, that holds true of every time period. Don’t wait for the magical “right time” to start investing in real estate – get started today.
