From childhood, we’re taught to Invest In A Home. We know we should do it, but sometimes we don’t quite know how. It’s typically our single largest investment, yet we have very little guidance on how to do it correctly. While we always recommend Talking To A Professional, here’s a good starting point.
- Learn the industry. Know your risks and rewards. By far, the best way to learn about the industry is to be in the industry. Whether you’re a real estate agent, mortgage broker, home appraiser, project manager, or escrow agent, learning about real estate beforehand will provide a huge knowledge base.
- Know the time commitment. There are many misconceptions about investing in real estate. Some people believe it’s a full time job, when in actuality, you can spend as many, or as little time as you’d like. From your investment strategy, personal life, professional life, and knowledge of real estate, your time commitment depends on many factors. All factors should be taken into consideration before making your decision.
- Be 100% committed. Buying a home is a serious commitment and should be treated as such.
- Know your financial options. Investing in a home doesn’t always require a massive investment up front. You can also invest using money from others. There is a term called OPM (Other People’s Money) and there are many different options on how that can be used.
Choosing to invest in Florida real estate could be the best decision of your life. For information on the real estate market in Southwest Florida, contact us directly at BrandyCoffey941@gmail.com or 941.404.4737.