2 Big Real Estate Myths
Are you on the fence…
Wondering about whether real estate investing is the right path for you?
For the right person, real estate investing can offer tremendous rewards… but it’s not for everyone.
If you’d like to find out if it’s the right path for you, keep reading.
You see, there are a lot of myths and misconceptions about real estate investing.
And often, these myths and misconceptions hold otherwise interested people back from getting involved.
Here are 2 big myths that stop people from getting started – Do either of these stop you?
Myth #1 - I need a lot of money to invest in real estate
The biggest myth of all. It seems, when it comes to the money myth, people fall into one of two camps.
The first camp believes they need a bunch of money to start (at least 20% down plus closing costs etc)
The second camp thinks they’re going to do 50 deals this year alone with absolutely no money down.
THE TRUTH The “gurus” never tell you:
unless you’re fairly experienced, it’s pretty damn hard to do a TRUE no-money down deal.
It doesn’t have to take a ton of money either. It takes SOME money so that you can do the marketing to find the good deals. With just a little monthly investment, you can actually do risk-free $5k flips in as little as two weeks without making repairs.
Myth #2 - I should start with rental properties
The holy grail right?
“How could this possibly be a myth?”
Look. There’s nothing wrong with buying rental properties. They’re great. And passive income, when handled correctly, really is the holy grail…
But the thing is – It’s not the best place to start your investing journey.
They don’t really produce fast cash or “life changing” money.
A much better approach is to learn how to wholesale real estate and do fix and flip deals FIRST.
By cutting your teeth with these strategies, you’ll be well equipped to buy “right” when it comes to rentals.
You’ll learn how to market for great deals, estimate repairs and even better…
By actually doing the “quick cash” strategies, you’ll learn an amazingly valuable skill –
You’ll learn to generate chunks of profit consistently that you can roll over into down payments for those rentals.
These myths get in the way for so many would-be investors but the truth is, all you really need in order for real estate investing to be “the right path for you” is a few things.
You need the desire to learn and work hard.
You need to a step by step plan or guiding mentor (doesnt have to be me, but you should have one).
And you need to take consistent action.
To your Success,