REAL ESTATE INVESTING…The Who, the Why, and the When by Thomas Towns
We all search for the one strategy that will turn a small investment into a large payday once all of the smoke has cleared. However, as human beings in an economy filled with lots of uncertainty, we often restrain ourselves to make sure that we do the “right things” with our money. The number one question we must all ask ourselves must be, “What is the one investment that has the potential to be very profitable and relatively safe?” The answer with resounding confidence should be Real Estate! You have heard it all before, but I’m sure hearing it again will help it to really sink in. The volatility of the stock market and the need for all of us to plan for our own independent retirement makes investing in a limited resource with unlimited value a great idea for future financial wealth.
Real estate investing is amazing! It can serve as a multi-directional investment tool. There are many choices that you have at your disposal based on the current economic condition and or personal financial situation. If the interest rates are relatively low and the local economy is healthy, then buying and selling one property within a short period of time (flipping) may be a good investment decision. However as interest rates climb and obtaining a loan becomes more difficult, you may want to begin renting your properties out until market conditions improve. If you adjust as the marketplace around you changes, you will always come out on the winning side of the Real Estate investment coin.
When and Where
The next choice to make is the when and where (we will talk about the who later) to invest. Areas where values have not reached their threshold are always the best choices. One example of one such area is the Tampa Bay Florida real estate region located on Florida’s west coast. Even though we have our issues with tropical weather, we remain one area that continues to grow and develop at a record pace, and more importantly, Tampa still offers the best value for anyone as compared with any other major metropolitan city in the U.S. The combination of tourism dollars, tropical atmosphere, and the absence of state income taxes makes Florida, and more specifically the Tampa area, one place that should always be considered when making an intelligent investment choice.
The time to make a purchase is actually whenever the best time for you happens to be. Look at your financial situation and be prepared to make some sacrifices if necessary. Define your objectives and make a plan that will help you achieve your goals. If you make a smart decision based on the current economic conditions and match these choices to the various investment options available to you in the market place, you will maximize your financial growth and development no matter what happens tomorrow.
The hardest part of all of this may be deciding who you should select to assist you with your real estate decisions. You should select a professional that understands the conditions of the local market place, but also someone who can help you avoid making a decision based on emotional rather than practical needs. A good professional can help you make a decision that meets all of your basic needs. A great professional can also help you achieve what you desire most while simultaneously putting you in a position to make financial choices that will enhance and maximize future opportunities.
Now that you know the when, why, where, and who, it’s time to take the next step. What are you waiting for?