6 Random Facts about Real Estate Investing; Fact, Fiction or a Little of Both?

April 3, 2014 in Investing In Real Estate

 

8 random facts

Real estate investing at its core is a pretty simple business. Someone has a house to sell, and as a real estate investor it is your business to buy houses.  As you can see, it’s pretty simple on the surface isn’t it?  However once you have been in this business for a while, you begin to see that there are a lot of misconceptions about what you can and cannot do.  In today’s post I want to jump in and sort some of those out.

 

Fact, Fiction or a Little of Both?

 

6 Random Facts

1. You don't need ANY money to get started in real estate.

The answer is,“A little of both”.  You can get started investing in real estate without using any of your own cash or credit by using several strategies.  Wholesaling and lease options are two of those strategies.

But the majority of the time you will need some money.  If you are a rehabber, in today’s market you will typically need to put 20% down. They may even want you to fund part of the repairs. In other words the bank is going to want you to have some “skin” in the game.

ut the majority of the time you will need some money. If you are a rehabber, in today’s market you will typically need to put 20% down. They may even want you to fund part of the repairs. In other words the bank is going to want you to have some “skin” in the game.

 

2.You should begin your investing career by investing in single family homes, then move into commercial properties once you have some solid residential experience.   Read the rest of this entry →