What are the most important rules for buying real estate?
The standard answer is location, location and location.
This is the wrong answer.
The correct answer is price, price and price.
Digest the information in this lesson and you will begin to see how the world of real estate actually works. You will see that the real estate business works just like any other business. To make a profit, you must buy low and sell high.
The conventional wisdom espoused by many “experts” in the real estate profession, the real estate agents, is that you can’t buy at discount. Again, this is the typical refuge of the naysayers giving excuses to those looking for justification for inaction. Because these real estate “pros” haven’t done it, you can’t do it. These experts want you to believe that making money in real estate is somehow different from making money in other kinds of businesses. It isn’t.
The majority of people own one house. They are average people. They are not financial geniuses. Buying a home or a multi-family or a condo is not brain surgery or rocket science. What others do once, you can do twice or six times or a hundred and six times.
You can buy and sell and repeat and repeat. With the right research, you can make a profit on each transaction. The system couldn’t be more logical or uncomplicated. The ease of the Master Real Estate system makes you wonder why more people aren’t real estate investors.
Real estate prices are cyclical. Prices go up and then prices go down but not as much as they went up. Over time, prices rise. Recently, prices went way up and then way down. There was a reason for this exaggerated fluctuation. Do-good politicians encouraged eager lenders to loosen credit and allow the under qualified to buy homes and to refinance continually. This party is now over. Reason and equity have returned. When most average people run away from real estate, sophisticated investors, who take the time to research, can cherry pick bargains and build future fortunes.
With a long term strategy of limiting debt, the Master of Success real estate investor will be well positioned to weather any future storm. Owners with solid properties and responsible tenants will continue to see rental income flow.
