Realtors forced to change careers should become real estate investors
As the housing slump worsens in many parts of the country, Realtors don’t have qualified buyers to work with and seller’s homes are not selling or staying on the market for longer time periods, thus making it very difficult to earn a living anymore.
Real estate agents across the country are leaving the business as the sales downturn worsens. The National Association of Realtors is predicting a 4 percent decline in its membership by the end of 2007, from a record high of 1.4 million members at the beginning of this year.
Take Michigan for example: Michigan real estate agents – thousands are leaving the industry, some with decades of experience, casualties of one of the worst housing slumps in state history. Agents who prospered a few years ago, when consumers were in a frenzy to buy real estate, now are struggling or switching careers.
Real estate investing should be a new career choice
Instead of helping other people buy and sell homes, real estate agents leaving the business should consider real estate investing for themselves. Granted, they may need to find a job to pay the bills while they develop this new career strategy and network to find a money-partner, real estate investing the right way, will provide regular, passive cash-flow and grow your wealth rapidly.
Where to target your investment sights
Single family homes: Many investors target homes and condos for investment. Extreme caution needs to be exercised, though, if you don’t want to be a casualty like many who got squeezed in the housing bubble bust.
If you want to pursue this investment type, focus on distressed property sales to buy below market prices including foreclosures, pre-foreclosures, short sales, REOs, probate sales, and tax sales. Do your research to confirm prices have bottomed in the real estate market you are investing in. If you want to learn how to invest in these property types to maximize your profits and avoid costly mistakes, visit the Real Estate Investing Guide Section for help.
Bargainville USA: While many housing markets are going bust, there are a number of housing markets that have not been adversely affected. I call these markets Bargaintown USA. In fact, they are enjoying steady, stable price appreciation. Discover where these markets are by reading the Real Estate News and Housing Trends Section.
Commercial Real Estate: Commercial property is the property type that will give you monthly cash flow as well as appreciation. You can also find distressed commercial property to buy below market value to fix up and flip, if you want. There are many types of commercial properties to invest in including apartment buildings, office and retail buildings and many others that will give you passive monthly income.
You can buy commercial property with as little as 3-percent down. Wow! I’d be happy to help you obtain such great commercial loans at my main website.
So, the next time you run into a real estate agent leaving the business, give them a tip – become a real estate investor.
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