Are you also among the ones that think about real estate investment but avoid it due to prevailing myths? Let us now look at 9 such myths:
1. Real estate investment is risky
For that matter investment in anything is risky, but in case of real estate you do have a fixed asset to fall back when the actual risk crops up.
2. A college education is a must
It is foolish to assume that you have to have some kind of higher education to be successful as a property investor. A little research work on the internet, collection of data like the present pricing prevailing in the market and the state of your local market you too can succeed in your investment.
3. Must be rich to invest
No, you need not be rich to make an property investment. You can always start off small and then later on go for the different funding options. Gain some experience and then try for bigger ventures.
4. Too much time is demanded
Investments in real estate will surely test your time management talents. But still you will have ample time to continue your job and take up investment as well.
5. TV infomercial on real-estate is your lone alternative
By conducting your own investigation and having your investment plan, you can create a feasible path to invest in landed property.
6. Need exceptional credit
It is not true that you must have exceptional credit, but in case you ever feel that you need a loan to invest then go ahead and get an average loan.
7. Invest in stock market rather than real estate
Remember that in landed property you always have a fixed and tangible asset to fall back. But in stock markets no such property.
8. Real estate only for institutions and full-time pros
You need not be a full time professional to invest in real estate. Just start off small so that you get the desired returns, instead of jumping big and losing everything.
9. Too much competition
New properties always crop up in the real estate market and you can invest in such properties.