Real estate investing is an awesome career that allows you endless opportunity. Those opportunities including financial freedom and schedule freedom! Real estate investing can be wonderful or it can be a nightmare depending on the choices you make.
As with all major life choices it is important educate yourself and allow help when it makes sense.
Some of the most common types of real estate investing are: wholesaling properties, flipping houses, buy and hold, and rehabbing properties.
Wholesaling properties or wholesaling houses consists of generating a real estate lead and turning that real estate lead into a contract on a property. After placing the house or property under contract you generate a buyer lead and convert that lead into an end buyer that will close the deal on that contract/property.
The term flipping houses has become main stream due to TV shows and many more real estate investors getting involved in flipping houses. The process of flipping houses consists of generating real estate leads and converting those motivated seller leads into equity filled property deals that you can buy. Very commonly the motivated leads are distressed properties. Both motivated sellers and distressed properties allow the real estate investor to purchase the undervalued homes and then sell the properties at a higher price in order to make a profit.
The buy and hold aspect of real estate investing is just what it sounds like, buying a house or property at a very good deal-commonly a distressed property. Then rather than selling the distressed property quickly the real estate investor “holds” on to the property, fixes it up then rents it at a high enough price to make a profit after covering all costs associated with the rental property. The distressed property becomes an investment property and once it is paid off the rent payments are pure profit!
Rehabbing properties consists of turning a real estate lead into an investment property that is purchased, repaired/fixed up (often known as “rehabbing”) then sold quickly to make a significant profit.
Just like any other career, different types of real estate investing are right for different real estate investors. Regardless of which type of real estate investing you are currently involved in or are getting into in the future, the main necessity and primary resource draw is generating quality real estate leads.
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