Excuses, excuses, excuses. People seem to find a lot of them when you ask why they are not making a fortune by investing in the real estate market. It is time that someone nipped those excuses and reasons for failure in the bud.
Myth #1 – No Cash
A common misconception in the investment world is that you must have a lot of money if you ever plan to make a lot of money. The truth is that when you find a great bargain on a property deal, everything will just seem to fall into place for you. Any veteran investor will tell you that lack of funds is the least of your worries; you just have to know where to find the best deals. If you are able to negotiate the right price, you will find partners beating down your door for a slice of the deal.
Myth #2 – No Credit
A large number of people turn away from the real estate market just because their credit is less than perfect. In all actuality, good credit is beneficial but not required. There are a number of different options such as owner financing, property flipping, leasing and more that allow you to make money in the real estate market no matter what your credit score may be. You can also partner up with another investor whose credit is a little better than yours is, or borrow the money.
Myth #3 – No Time
People seem to think that if you have a home, spouse, kids, job, etc, there is no way they will have the time to invest in the real estate market. The fact is you probably have more time than you realize. Do away with a few hours of television each week and you will find a lot of extra time. Load the kids up and make bargain house hunting a fun road trip that the whole family will enjoy.
Property Options Australia
Property Options Blog © 2006 – 2009
Hi Sean,
You’re definitely changing the way I look at investing in the real estate market. I wouldn’t have thought of investing in property with no cash and bad credit.
But, I’m learning that financial freedom really comes down to your willingness to look for creative solutions to your problems.
I like the way you brought up time management..take the kids along and teach them about real estate investment. Monkey see, monkey do.