If you are getting into real estate investments, it is good to know facts from fiction to avoid wasting your money and your valuable time.
Here are the myths you should watch out for, based from Entrepreneur.com, that will help you get into the game prepared and ready for battle.
1. Investing in real estate is too risky.
Any investment has associated risks and real estate is no different. In real estate, you have hard assets you can fall back on in the least. In addition, with the right skills, which you surely have since you have decided to venture into this kind of business, you will do well. Sticking to a viable investment plan will keep things under control.
2. You need a higher education to succeed as an investor.
This is way too far from the truth. Many real estate investors do not have a college degree and they are thriving. You can find out what you need with the help of the power of Internet and availability of reliable real estate investment books and webinars. Do your own research and your experience will help you along the way.
3. You have to be rich to invest in real estate.
Most fortunes came from small beginnings and your small venture could lead to greater fruition. Besides, are funding options out there that can help you make a good start.
4. Investing takes too much time.
Of course not-most successful entrepreneurs and investors have started in the field by keeping their desk jobs. What you need to learn, however, is to manage your time wisely.
5. That late-night TV infomercial real-estate stuff is your only option.
There is no reason to buy-in to a late-night infomercial. The smarter move is to make your own investment plan and go from there, even sacrificing your weekends for the time being to build a solid foothold.
6. You need outstanding credit to invest.
Admittedly, you need an average or stable credit and not necessarily outstanding credit to make an investment, if your investment requires a loan.
7. You can do just fine investing in the stock market.
Imagine taking something, making it yours, making it better and thriving in it? That is what you'd get in real estate investments, a tangible asset. The same cannot be said in stock market investment.
8. Only institutions and full-time pros make it in real estate.
Very few people have started big; in fact, Entrepreneur.com notes, "most of the investments made in your city's low-to-medium income neighborhoods came from small-time investors" before they hit it big. You, too, have the same chance and can do the same.
9. There is too much competition to be successful.
Competition is good, it will motivate you to do better so do not be afraid. There are many opportunities out there; you just need to look harder. If you need to go out of your comfort zone, do so and you will be rewarded.
