There are many myths surrounding real estate investing. Still, it is incredible to see how much misinformation is out there and how many Americans are missing out on the incredible advantages investing in real estate can offer.
With such a vast amount of real estate education resources available at the tips of the fingers and over the web via mobile devices anywhere at any time of day or night it’s almost unbelievable that so many are still in the dark.
Still, there are plenty of real estate investing pros in the business making a killing from flipping houses every day that are probably happy about this and that they don’t have more competition. However, everyone should at least have the shot at getting clued in so that they can make their own decisions; whether they decide to act and take control of their futures or not is then up to them.
3 Real Estate Investing Myths that Hold People Back:
These 3 real estate investing myths continue to be perceived hurdles that prevent more would be investors from enjoying a lot more from life…
1. No Money Down Real Estate Doesn’t Work Anymore
This is crazy. No money down real estate deals are still done all over the country every day. Some may not want you clued in so that they can reap more profits themselves but this does still work. Yes, the days of the 100% no down payment, no documentation home loan may be gone (at least for now), but that doesn’t mean you have to have a bunch of cash to flip houses and make a great income. Between transactional funding, hard money loans, private lenders and angel investors there are countless ways to leverage real estate investments without using your own cash.
2. Double Closings are Impossible
Double closings may have become a little harder to do if you don’t have the right business partners. Some forms of double closings may even be restricted or have been made illegal by mortgage lenders but that doesn’t mean that they are impossible to do. The key is doing them legally, with wet funding and with an investor friendly title company on your side.
3. You Can Skip the Real Estate Education
Sure you can skip the education, but that’s like trying to make a delicious cake from a bag of flour, a couple of eggs and some sugar without a recipe and if you have never baked before. It’s going to be a disaster. You aren’t going to want eat the end product and if you do there’s a good chance you’ll get sick.
You don’t have to go back to college for 4 years, but if you want to see results quickly, avoid the pitfalls and actually hit your goals then you do need to invest in a quality real estate investing course of some type.