Real Estate Investing - Get In Or Get Out!
A note from the author...this post is meant to give you a true look into the life of many investors. As you know, my biggest desire is to help investors grow the wealth they desire though real estate investing. I witness so many who never do. As the opportunities are so great, I felt compelled to write about this today.
I remember as a kid, my dad yelling at us when we had friends come to visit and we would stand in the doorway (door open and air conditioning on). He would yell, "GET IN OR GET OUT." This may sound like a weird analogy to use with real estate investing, but one that resonates with me every day.
Wow, what a wonderful time we are living in as real estate investors! Low interest rates, low home prices, and high rental demand. A shortage of homes to live in. Virtually every element is in perfect alignment for the real estate investor. It is said that 51% of real estate investors are new to real estate investing and what great opportunities they have.
What the new investors may not realize (not yet anyway) is that the investor has never been more positioned to purchase real estate than they have over the past two years. The window of opportunity is still open, but I must admit it is starting to close. Now you all know my stance, there are always great places to invest if you know where to look and additionally that the market will ALWAYS change.
As a whole, with the perfect alignment of low prices, low interest rates, and high demand for housing, fortunes are being made in real estate investing. Yet I continue to see people every day holding out for a better deal. Two years ago I could agree that we were still uncertain of where the market was exactly. Today the evidence is everywhere that we are on the incline and prices are rising. As these prices continue to rise, the returns will of course decline.
I take calls daily where people are waiting for the diamond in the rough to appear. Yes, this can happen, but when you talk to an investor or wannabe investor for two years and you see prices rising and interest rates rising and realize that while they are waiting for the diamond in the rough, they could have been making money all the while and could have purchased for much lower prices than they can today. I can only think of this advice, get in or get out.
The market will not wait for the person who is unprepared. If you wish to make it big in real estate investing, get educated right away. Write down your real estate plan. Get serious and take some action.
I sat next to an investor wannabe at a real estate seminar a couple of years back. During break we had lunch together. He shared that he spent many years and over forty-five thousand dollars on seminars, tapes and education and yet he never took any action. He got educated but says he never found the right deal...interesting! My thought was, either you are in or you are out... you see he got educated but never actually wrote down a plan on what he wants in his investing, why exactly he was investing, what type of exit strategy he was going for. This lack of clarity caused him to freeze. No plan means no activity which means no investing.
To this I suggest, Get in or get out!
If you are considering real estate investing and don't have a plan, PLEASE head on over to our real estate plan page and get one now... just by answering the questions you will get better clarity on how and why you are investing!