I’ve been thinking about getting into real estate — either investing or maybe even working in the field — but I’m not sure if it’s still a good move right now.
Prices, interest rates, competition… it feels like a lot to consider, and I don’t want to jump in blindly.
Real estate… is it still worth getting into?
byu/MysteriousShoulder35 inRealEstate
Posted by MysteriousShoulder35
5 Comments
Competition is high, but there’s always ways to make money in any industry. Just depends on you having the right expectations and knowing what to do. Do you have a lot of cash or love sales?
A deals a deal. There are people making money off real estate every day. It never stops.
If you find the right deal then its worth getting into
Imagine someone asking this question in 2008. They’d be staring down a global recession based entirely on the collapse of the housing market. Why get into real estate when real estate just imploded on itself?
Of course, if that person decided to not simply make decisions based on what is occurring now and, instead, attempt to be a bit more forward thinking, they would have enjoyed over a decade of growth leading up to one of the most lucrative periods of real estate investing in recent history.
So, should you avoid real estate because things are looking choppy right now? Perhaps- you lack the kind of thought process that someone involved in real estate needs to be successful. It’s not without risk, of course, and things could get a lot worse before anything gets better (assuming it ever does). But, typically, you’re supposed to buy low and sell high, so if you think it’s worth waiting until it’s obvious that real estate is a great investment of your time and money, then just move on to something else entirely and save yourself the grief.
Truthfully you probably need at least 6 months of income saved up, plus some money to put into your business, CRM, website, lead generation, training. If you don’t have the capital for that, it’s unlikely you’ll do a ton a business right out of the gate unless you’re the world’s best cold caller or networker.
If you still think it’s the right industry for you, but you don’t have the money, consider joining a team. But don’t just jump on the first team that offers you a position. Not all teams are created equally. I have been on an excellent team, and a not so great team.
Lastly, if you’re getting into the industry for more freedom and control of your time. That is a huge myth. You will be busier than ever, with no guarantee of being paid, and you will absolutely have meetings and calls at very inconvenient times. Successful agents are generally working 80+ hour weeks, especially during Spring & Summer.
Wholesaling Land is more profitable to me anyway but houses have become more saturated due to the influx of new wholesalers with no guidance!