I see all these courses on different real estate investment ideas. They are all offered to educate you and to, presumable, make you rich using the value of the real estate market. The problem is, as I see it, that depending on one method to create your real estate wealth, is just that.
Once you have learned one method, and learned that method well, you may make money. And, hopefully, you make a lot or money. But, if for example, you have learned to profit from foreclosures and suddenly fund that there are too few foreclosures in the market, or possible, more people have learned to do what you do and the competition to pick up bargains is greater, then you are in a bind. You haven't balanced your real estate investing. And, to make the damage more humiliating, you may actually own a bunch of truly unsexy houses or condos that you must unload.
Why not look into balancing your approach. I fell into it out of sheer desperation to make money from all aspects of the market. I own several rentals homes, have completed a total renovation on a country house, manage a business of vacation rentals, have down payments on several properties in the pre-development phase in many parts of the U.S, own well-managed resort real estate and have deposits down on several more of these resort properties.
In the next few blogs, I will break down some of these investments and offer information on how to approach this balanced management of your portfolio. Manage it geographically and by product type. Have those properties you are madly in love with and those that are simply the conveyors of wealth. Have the "flippers" and the "keepers."
Own real estate in exotic locales for great vacations and those scrumptious tax write-offs when you travel to visit your investments. Own real estate in your own backyard so you can easily manage it yourself. There are so many opportunities and no need to limit your investments to what you may have once believed to be the path to wealth creation. And we're talking wealth here. There is no reason that all of us should not join the over one million Americans that are worth over a million dollars!