Buy or Rent a Home in 2008?
I still believe that this is the best time to get into the real estate investing business. However, the strategy used in this market may be the key to your success. I’m not so sure that all of the creative strategies taught buy the self proclaimed gurus will work in this current market. The differences in the strategies can make or break you as an investor. For example, if you are looking for short term investments in which you control or own the property for less than 4 months, i.e. house flipping, this market should scare you some. No one knows where the bottom is, including the gurus and even at a 20 percent discount (in today’s market) you could still be over priced in three months. Wholesaling (house flipping on speed) may be a safer route to take since in most cases, you only control the property for a very short time frame. The down side is you run the risk of not finding a buyer and potentially loosing deposits or down payments. Don’t get me wrong I am still a proponent of house flipping, however only as one car in your freight train to wealth.
posted in House Flipping, Landlord, Real Estate Investing, Real Estate Market, Renting | 0 Comments
