Planning is the key to any investment strategy. You can look at properties all you want but until you have a plan and act on it you won't get very far. You must think long term, short term and middle term.
Think long term strategy. Many people want to invest, but in reality only want to look at investment properties. They have no real clue as to what they should do. In fact they have no plan. Like any business you need a plan.
Holding rental homes over the long term is a proven investment strategy that works. While you provide proper housing at fair rates the renters themselves are paying off your mortgage. You can avoid the hassle of day to day duties by using a property management company.
When you reach retirement how many homes do you have to own free and clear to have a great stream of income. Then your money is working for you, not you working for money. A great agent can help you with your success, by being a great partner on your team. He can help you find properties in great neighborhoods. Properties that people want to rent and that will increase in value over time.
Don't have any funds to buy rentals then consider re-habbing a home. This is a well used investment approach. I actually became an agent to get the capital to do this type of investing. Finding and fixing properties to flip to a retail buyer is a solid money earner if you do your due diligence.
There are a lot of people flipping houses these days. You have to be smart about it. You make your profit when you buy, you collect it when you sell.Once the repair work is done you have many options. You could sell it immediately, put it into rental or lease option the property.
Do you need to earn money to invest? Many of us do and a great technique for doing that is wholesaling. Basically you find a great deal and get it under contract. You can then assign the contract to an investor or retail buyer. When they close they pay your fee. The idea is simple really.
This enables you to make a profit on a home without all the hassles of buying it yourself. It puts cash into your pocket so you can invest it in a flipper or rental. It helps increase your investment capital. You can always do the reverse when buying. Look for a great wholesale property from an investor.
The trick here is to do it on a consistent basis. These three techniques can make you very well off in the long run. By combining the three investment techniques you can develop money to invest, provide current income and invest for the long term stream of income.
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Have you thought about property investing, make sure you check out Tommy's interesting no cost report 7 steps to property investing,and buying a home
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