Getting into Real Estate Now

This is a very good post by John Barney. It is so true that now is the time to get into real estate.

“Now is the accepted time” You only fail if you refuse to try”.

“If you pay too much attention to market conditions, you will be too afraid to make a move”

Interesting quotes. And yet they convey the feeling many people have about real estate. Is it the right time? Should I move now or wait? What about all the things I don’t know about real estate?

Some call it the “paralysis of analysis”. If you look too long at the reasons why you can miss the fact that now is a great time to get into investing. Why am I saying that? Because real estate has been and still is one of the foundations for building lasting wealth that can impact future generations.

I got introduced to this business in the late 1995’s. I have seen interest rates shoot up over 15% on residential mortgages. Points were 3 to 5%. FHA was becoming the way to go because of the down payment requirements. At one time FHA did loans to investors. And REO’s were not the norm for the average investor. All you had to do is find an area you wanted to be in and then look for deals. It was not hard to find them.

Property has certainly been on a ride since then. Interest rates have been in single digits for years. Investors have found it much harder to get traditional forms of financing and Hard Money loans have soared. The concepts of wholesaling and flipping properties have become national past times with many teachers and gurus being raised up looking for students.

I still believe that NOW is the best time to get into Real Estate. Why? Because it isn’t going anywhere. People will always need a place to live, businesses and factories will need a place to operate and many other professions are dependent on a solid housing market.

The key to getting into real estate now is finding the right deal for your circumstances. If you don’t want the hassle of land lording, then consider learning how to wholesale properties to other investors. If you want to be a landlord, then find properties you can manage for their cash flow. If you like doing repairs and construction work, consider fixing a property and flipping it to a consumer. Based on your current level of skills you can find the place to put your expertise to the test and become an Investor.

If you are considering getting into real estate now, don’t hesitate. Why? Because prices are not dropping, interest rates wont be getting much lower and the need for people to own and control real estate is growing stronger.

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