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Real estate
investing is not easy. Actually, the truth is nothing is/comes easy. It is okay
to be a ‘little’ scared when investing huge sums of money into property (ies). Just
do right to educate yourself on the real estate market, on your returns and the
kind(s) of property you want. Once you are well educated about what a good deal
is, only then should you pull the trigger when you find that good deal.
This article
will be focused on why so many real estate investors never buy a land or a
house and how possible it is to fail investing in real estate.
*Stories about people losing money on properties*
Hence the need to hear the entire story from the horses’ mouth.
Many who have ever expressed interest in real estate
investing to our friends or family have encountered negativity. Someone always
seems to know a relative or a long-lost friend that lost their entire life
savings on properties or getting scammed by land grabbers (Omonile). The person
telling you how bad real estate is has probably never invested themselves and
are re-telling stories of people they know, which may or may not be accurate.
If you hear a story directly from someone who lost a
lot money investing get the entire story. Most people who lose money in real
estate did not know what they were doing or they took on huge risks to try to
get rich quick. If you educate yourself about investing in real estate and
follow certain guidelines it is hard to lose money.
*People don’t understand Real Estate.* Hence
the need to educate yourself or Get a professional.
Never assume your real estate agents and his likes know
about real estate investing. Most agents never invest in real estate and don’t
understand what a good investment is. The reason most people tell you real
estate investing is a bad idea is only because they do not understand it.
There are many types of real estate investing. Someone
hears a flip side to real estate and then associates that story with all types
of investment even though the two are completely unrelated. Personally, I am
not saying people who have lost money in real estate did not know what they
were doing or did not have any knowledge about it. There is every possibility
to lose money investing in real estate, even if you know what you are doing.
NB:
When taking a major financial decision, make sure you get a good professional
advice. Also, if you are going to take the advice of people about your future,
at least make sure you get the whole story and that it applies to your
situation.
*Lack of money* Hence
the need to sacrifice, save and work hard.
It takes money to do almost everything including investing
in real estate. If you have no money it is very hard to invest in real estate
or anything. If you do not have money that doesn’t mean you can’t invest, that just
means you need to get money! So it’s either you learn to save more money or you
make more money. I can guarantee that there is someone out whose financial
situation is worse than yours, and was able to save money to invest. It
requires a lot of hard work and sacrifice, but it is way better than having no
money.
*Indecisiveness* Hence the need to make up your mind.
People get talked out of it. As discussed above,
people prefer to listen to naysayers and end up not investing because they think
it is a bad investment. Never let someone else tell you the best way to invest
your money. Figure it out for yourself.
Conclusion
Most aspiring investors end up not buying a property.
They always have an excuse. There are ways to invest with little money, If you
want to invest in real estate, don’t let someone else decide for you neither
should lack of funds be an excuse. Get out there and do it.
Many people will lose money investing in real estate
from the reasons listed above. Many more people will never invest in real
estate at all, even though they know it is a great way to build wealth and they
have every intention of doing it.
There are many more ways to lose money investing in
real estate. But I only consider it a failure if you gave up and didn’t learn
anything from your experience.
If you know more reasons on how one can fail
investing in real estate, please share by commenting or better still if you
have an experience, do well to share so people can learn.
Contact DeCEO Homes for best deals on landed properties.
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