The standard practice in any investment is to buy low and sell high but this may not be the case for you. Investing in Real Estate is different for everyone. First you need to determine if you are interested in building wealth or income, and yes there is a difference! If you are looking for a supplemental income stream rental properties may be the course you want to take. Be advised though not everyone is cut out to be a landlord! If you are not, research a property management company before you start buying and get those wheels in motion. Also you need to make sure that you cap rate (rate of return) works for you and your budget as well.
Building wealth in Real Estate is another ball game all together. If you like risk with the possibility of big reward this is for you! Most investors building wealth tend to lean towards commercial properties or high yield opportunities such as undeveloped land. Building wealth may require you holding properties for sometime before you see any return on that investment so be aware! If you are thinking of investing in Real Estate for the New Year, DO YOUR HOMEWORK! Decide which path may be right for you or look at both openly and equally. There is still money to be made in Real Estate and if you are smart and work with a reputable agent they can help guide you to unlimited possibilities! For More information on investing, purchasing or selling in this market visit our website at www.hokepowell.com for more information.