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ShareWith home values in the U.S increasing by a staggering 7.2% in the last couple of years, it can be safely said that real estate investments present a great avenue of growing wealth right now. According to a report by RealWealth, in 2007, around 66% of American investors were focused primarily on the stock market. That number has now fallen to 60%, with real estate becoming the primary area of focus for most millennial investors.
However, the world of real estate investments is pretty diverse and varied. There are various ways of making money (investment strategies) – which can be overwhelming for someone who’s new to real estate investing.
So, to help you get off to a good start on your journey as a real estate investor, we’ve put together a guide to what are, in our opinion, some of the best real estate investing strategies. Here they are.
Fix and Flip
A commonly-used and highly popular strategy amongst real estate investors, ‘fix and flip’ is comprised of finding a property that requires work, purchasing it for a good price, repairing/renovating it, and selling it off for a profit. If you’re an avid watcher of HGTV, you know exactly what we’re talking about.
This model is commonly used by real estate investors in the initial stages of their career. It’s a good way to build up savings for future investments.
House Hacking
House hacking is an ideal strategy for real estate investors who’re starting off their careers with limited capital. It involves living on a property that can also generate income, such as a duplex, a triplex, or a home with rentable space.
Another prominent benefit of house hacking is that it allows you learn the ins and outs of the landlord business while you’re residing on your rental property. Furthermore, you can transition your property into a long-term rental when you eventually move out of it.
Wholesaling
This involves finding great on real estate investment properties, purchasing them, and reselling them quickly for a small margin. This strategy is ideal for those have good marketing and negotiation skills. Your success also depends upon how good you are at finding those great deals. So, if you’re good at sales, wholesaling could be an ideal strategy to grow your wealth.
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