Economy Got You Down? Investing in Real Estate Could Bring You Out of Recession
Foreclosure...It's a word that we've all become intimately acquainted with as of late. It's an epidemic. Thousands of families have lost their home. Extreme measures are being taken by the government and financial institutions to put an end to the epidemic, but will it be enough?
All signs point to the fact that the US is on the verge of recession. In fact, economists may look back at this time and say that we are already in a recession. As with all things, the economy will get worse before it gets better. But what should you do while you wait on the economy to turn around?
How about real estate investing? I'm not joking. There has never been a better time than now to invest in real estate. Houses are cheap; mortgage rates are at their lowest in history. There are so many opportunities to make money in real estate. You can buy a home for your family or you could purchase a rental property. And you can do all of this for a bargain.
Everyone has been affected by the real estate recession. Even if you haven't lost your home, you have been affected by the chain reaction begun by the real estate recession. People are being laid off, and they are no longer spending money on entertainment, cars and furniture. The effect of the recession has been far reaching. It can be likened to a virus that has infected everyone in the US.
Homes are an investment. And even in this time of uncertainty, there is the certainty that prices will stabilize and rise once again. If you are currently renting, you will not be able to cash in on this real estate wave.
Investing when prices are down is a smart strategy. Remember the number one rule of investing: Buy low; sell high? Start looking. Track patterns of growth and determine where the most growth will occur once the recession has ended. Look for developing areas that have slowed. Purchase property in this area. This is the property that will recover the quickest once development begins once again.
If you already own your home, why not consider buying a rental property? People need a place to live, and with all of the foreclosures, there are more renters than before. Take advantage of low prices and low interest rates. Your payment will be low, but you can still rent the property out for the amount that you would in an up economy. Keep in mind that you may need to put more money down on an investment mortgage than a mortgage for a home that you intend to live in.
If you plan to rent to tenants, be sure to purchase a property in an area where people have jobs. You should also pick an area where people want to live. After all, a rental property will not make you any money if it sits empty.
Related Tags: real estate, real estate investing, foreclosure, financial institutions, purchase property, real estate recession
Sal Vannutini is the author of " The 8 Power Profit Secrets To Making More Money With Less Risk In Real Estate, " a free strategy report for investors. Get your complimentary
copy at www.FastFixerUpperProfits.com today.
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