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Don’t Wait to Invest, Part 2

Nov24
2009
Leave a Comment Written by Alicia

buy house now

As we previously stated in Don’t Wait to Invest, Part 1, the most popular regret for people in their 20s and 30s is that they didn’t invest in real estate sooner or at all. The positive aspect about real estate investing is that it’s ageless. However, according to an article from InvestmentPropertiesInfo.com, your age does create certain factors that should decide how you go about with your investment.

Established people above the age of 40 have benefits that younger people don’t have:

• You have years of capital and equity behind you, and hopefully you have good credit history. Lenders will be more comfortable to provide you with loans.

• You have years of home renovations behind you, and with that comes valuable skills that young people will not have gained yet. These include skills in plumbing, electric or carpentry, to name a few. Even slight knowledge in one of these areas can save you labor expenses in your investment.

• You’ve met a lot of people in your lifetime. You probably have heard numerous first-hand accounts on real estate investments that you can learn from.

• Aside from investment stories, all the people that you’ve met can provide you with a social network of friends, colleagues and business professionals. Have you worked with the same electrician for years? He’ll come in handy with your new investment!

• If real estate investing is something you always meant to do, but didn’t, retirement is a positive force to push you toward doing it now. You’ll again have the time that young people have, but you also have years of wisdom.

• You already know your strengths and weaknesses. You know what you can accomplish, and you know what areas you’ll need help in.

• You can use your age as an advantage when gaining trust with lenders, investors, home sellers and future homebuyers. The people you work with will hopefully see you as a wise, established businessman or businesswoman.

Time is of the essence, so if you’re above the age of 40, dive right into the world of real estate investing. Because investing is ageless, you might even consider partnering up with a young or older person. This type of partnership would include all qualities: leverage and wisdom mixed with enthusiasm, physicality and flexibility.

To read the whole article from InvestmentPropertiesInfo.com, click here.

Posted in Buying Tips, Tips and Ideas - Tagged age, home ownership, investment, real estate
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Don’t Wait to Invest, Part 1

Nov17
2009
Leave a Comment Written by Alicia

buy house now

According to a recent radio trivia question, the most popular regret for people in their 20s and 30s is that they didn’t invest in real estate sooner or at all. Whether you’re in this age group, or you’re well past your 30s, it is never too late to invest in real estate. Don’t become one of these many Americans with this regret later in life!

Although real estate has always been a popular investment option, investing during an economic crisis creates new advantages. The prices are low, the options are high and the chance that the economy will turn around in the future brings high hopes for revenue. According to an article from InvestmentPropertiesInfo.com, though investing in real estate is ageless, your age does create certain factors that should decide how you go about with your investment.

For those of you in your 20s and 30s, time is on your side:

• While you search for an investment, you can take your time and wait until you find a house that fits your needs, and you can spend some of that time educating yourself and increasing your knowledge about real estate. (However, don’t wait too long, or the opportunity might slip by.)

• You can choose to move into your newly purchased home, or you have the option of making it a revenue-only investment. You’re still young enough to rent somewhere alone, with friends or with a significant other, or you could even still live with your parents.

• You can wait more than 30 years before cashing in on your investment, and hopefully, the price you sell the house for in the future will be higher than what you buy it for now.

• If your investment turns out to be a financial blow, you still have many working years ahead to help you pay off the debt and recover.

• As of right now, there are numerous loans and tax credits that first-time homebuyers can use toward the purchase of a home.

• For some young homebuyers, the process of purchasing now will be easier than later, because young people tend to have fewer financial obligations. You hopefully have low accumulated credit card and loan debt, and you don’t have an existing mortgage.

• As far as having fewer personal obligations, you have more time to spend on investing than someone who has already moved up the management ladder at work, or someone who has other people in a household to provide for.

• At a young age, most people are enjoying their best physical condition, and therefore can handle the work and time that home renovation needs.

Having time and fewer obligations to deal with at a young age definitely makes investing in real estate an easier chore. However, established men and women above the age of 40 can easily still make a real estate investment, and we’ll tell you how in Don’t Wait to Invest, Part 2, coming soon!

Posted in Buying Tips, Tips and Ideas - Tagged home ownership, investment, real estate, real estate market
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Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

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