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Is real estate a good investment today?

To invest in any field, you need to research and consider all the conditions. Investing in any field can have many risks.

Therefore, you need to understand the risks and avoid them as much as possible. If you want to invest in real estate, try not to cooperate with lenders and companies that use dubious and unreliable methods. Investing in real estate requires enough information and economic intelligence and I do not recommend it to everyone, and you should do enough research and know if you want to invest with or without buying a property. Here are some tips to help you invest in real estate by buying, renovating, or renting a property.

If you have enough knowledge in this field, like many investors, you can make huge profits from the real estate market, even in spite of the recession in the real estate market, and always add to your wealth. How do you think this is done? This is simply because investors have been able to manage their capital and invest it in the right direction by using very simple and, of course, practical rules. Brian Tracy is one of the most famous writers in the field of investment education and wealth-building, who has practical tips for people about investing in real estate, which may not be without merit. And find more profit in the housing market.

• Investing in a real estate market is a form of long-term investment.

Investing in a real estate market is not a short-term investment, and we must believe that this type of investment is not profitable early, so is investing in the real estate market, waiting to buy or sell a property is the most important solution. That will make it profitable. This may take a long time.

Another important point is that if you do not have the full cash to buy a home, you can also open an account on a mortgage, but the most important thing is to think carefully about the interest on the loan, so Do not get in trouble in the future. It may be necessary to know that by buying and renting a property, you can also compensate a large part of the monthly installments.

• Buy, renovate, and then sell.

If you decide to go it cheap and risk the low bandwidth, you are only fooling yourself. Especially if you decide to buy real estate, you need to have money ready. If you have enough money, the most direct and practical way to invest in this field is to buy a house. But before buying a home to invest in, you need to consider more options.

In your mind, buying a new property may be more profitable, but buying this type of property is not always profitable, and the builders will trade the property according to the current price. Hence, older or semi-finished properties are the best properties that you can buy at a low price, then complete or remodel them a little, and then sell them at an opportunity and at a higher price. In the meantime, buildings that are about 10 to 12 years old are the best options to buy, and with proper renovation, they can be sold at a younger property price.

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To do this, identify the area well and then proceed to purchase. Once you have purchased a property, you need to budget for it and sell it at a higher price to make a profit. You need more than money to start repairing your home.

To be successful in this process, you must have sufficient knowledge and information about real estate and home improvement. Although this process can be very lucrative, you have to spend a lot of time and money and have the patience to commit to a fixer-upper. Another better way to invest in this is to spend less money on renovations and rent a house because renting a property, in the long run, can be more profitable for you.

• The most suitable options for investing in small properties.

When the real estate market is in a long-term recession, the housing market is not profitable, so in this situation, the best type of investment is to buy small properties because it requires less initial capital, and in the event of a long-term recession, these properties are easier to liquidate. They will be converted or more easily rented from larger properties. But do not forget one thing, do not invest in it; by repeating this work and finally obtaining the necessary capital, try this work for large real estate as well.

• Investing in commercial real estate is better than residential.

Undoubtedly, commercial real estate is bought and sold at much higher prices than residential real estate, and applicants for this type of real estate are always looking for a suitable property in the market. If you have enough capital, buy commercial real estate instead of residential real estate because it is the best option in investing real estate on commercial real estate. So you have two points, the first is that you never have to wait for the transfer season to arrive, and the second is that the presence of customers is always behind the door of your property.

Conclusion

Finally, set your goals for investing in real estate. Define the situation you are in now. Discover your purchasing power. Define your strategies for investing in real estate. Determine the buying strategy for investing in real estate. Decide which properties are best for investing and buying. Research the property before buying or investing.

If you have enough knowledge, investing in real estate is the most profitable investment for you. Planning, preparing, and managing real estate activities will allow you to increase your wealth in this area, which can include selling fast or even renting a property.

Buying a good property with normal market value and proper planning according to the needs of the market and your capital can bring you huge profits. All you need to do is research your local real estate market thoroughly and be patient and knowledgeable enough to make a profit.

“If you have any feedback about how to invest in real estate that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.

Hello there, welcome to my personal finance wellness website. Personal finance has been a passion of mine dating back to my time in China as an international student at Hebei University of Science and Technology and also when I worked as a sales manager for a Chinese pharmaceutical company after graduating from University.

I immigrated to the United States ten years ago to start a new life in one of the greatest countries in the world and the land of opportunities. While in the United States, my fascination with entrepreneurship and finance continues to grow. I started reading books like, Think And Grow Rich, The Richest Man In Babylon, and Rich Dad Poor Dad.

After then, I became more interested in knowing more about money and personal finance and wanted to share the information with my friends, family, and my community to help many people who are working hard but are still struggling financially. I’m a Life and Health licensed Insurance Agent who has been working for World Financial Group and World System Builder for almost three years now. I presently help families and clients in MD, VA, KY, and CT.

My Childhood Story About Personal Finance.

I’m an American who was born in Cameroon to a family of six children, four boys, and two girls. I’m second to the last child. I came from a humble background where my parents were very successful farmers who grew cocoa beans and palm trees as a primary source of income. My parents were living in our little hometown or village in the southwest region of Cameroon.

As a young boy, I didn’t have the opportunity to grow up with my siblings and my biological parents. The reason being that my mother’s younger sister had just one child who happens to be a girl, so she pleaded with my mother to send one of her sons to live with her daughter so that she can have the feeling of having a younger brother. My mother loved her younger sister so much and wanted to please her and help with her dream of having a big happy family.

If you are familiar with African culture, you will realize that Africans like a big family, but my mother’s younger sister wasn’t happy because she had just one child. So parents decided that I was the child that will be given to my mother’s younger sister who was a high school teacher in a big city called Kumba. At three years old I started living with my mother’s younger sister who became my foster mother.

My new foster parents were teachers and God-loving people who were Christians. They came from a generation where their parents weren’t educated, so their parents wanted them to be more educated than them. They were told by their parents that, the only way to be successful in life is to go to school, work hard, and get good grades. When you do that and graduate with your degrees you will be able to have a good-paying job with the government or private companies. My sister and I were told the same thing and we had to do the same thing that my foster mom and her husband were told to do by their parents.

Considering the above mentioned, by now you should have noticed that we didn’t have a typical childhood where you might have your dreams or where your parents will ask you what do you want to be in the future. Questions like that weren’t part of our family discussions, but things like how are your scores in math, history, physics, and the list goes on.

I Was Very Passionate About Science And Technology.

During my primary school years my foster parents found out that I was a kind of hands-on guy and was interested in fixing toys, so they decided that I will go to a technical college for my secondary and high school education. So I went to Government Technical High School where I studied Electrical Technology for seven years. And after my high school graduation, I went to China as an international student where I did my BSc at Hebei University of Science and Technology. It was in China where I started thinking differently from my family values and beliefs.

That’s when I realized that my parents never talked about money, financial education, and entrepreneurship, and these things were not taught in schools either. My parents thought that money was evil and they didn’t like to know more or talk about it. We ended up with a lot of family members who were educated, but broke and couldn’t even make ends meet.

My old ways of thinking changed when I was living overseas as a foreign student. I started learning from the Chinese students how to save money and spend less and when I started working for a Chinese pharmaceutical company as a sales manager, I had the opportunity to travel to other Asia countries like Malaysia, Japan, and Singapore.

The more I travel, the more I got to know more about other cultures and also understood the disparity in every country between the middle class and the top five percent and how much these people know about money, personal finance, and entrepreneurship.

After living in the United States for over ten years, I’ve seen a lot of people struggling with money problems because they don’t understand how money works and lack personal financial literacy, I decided to make a difference in people’s lives. In 2018 I joined a campaign for financial literacy, since then I have been educating middle-class and low-income immigrant families on how to manage their finances. I used to do walk-in workshops in family homes and kitchen tables, but with COVID 19, we have to have our workshops on zoom every weekend.

Making A Difference In People’s Lives.

My story is like the story of many immigrant families all over North America who came from the Middle East, Europe, Asia, and Africa and had to start all over in a new environment and sometimes struggled to understand the language, financial concepts, basic finance, and financial products.

As someone who was born in Africa, lived in Asia for over seven years, and experience for the past tens years here I thought it was a good thing for me to create a platform where people can share information and answer questions about basic financial concepts, understanding of some financial products and also do personal finance workshop.

We spend so many years in school learning how to make a living, but we should also invest our time learning the financial basics to save a fortune. I used to live from paycheck to paycheck, but after I learned more about personal finance and basic financial concepts my financial situation has changed and I have helped a lot of families in my community move from financial insecurity to financial independence. I’m very passionate about what I do and I love it.

I love helping people and what I do allows me to meet a lot of people from different communities around this beautiful country. Hopefully, we cross paths in the real world someday and we can make it a better place together.

Be Part Of Personal Finance Wellness.

Wherever you are in your understanding of how money works and personal finance and money journey, I want you to know that you have what it takes to make your financial dreams a reality. And the journey to financial freedom will be the greatest adventure of your life. Please just take the first step and together through this platform we will change people’s lives.

If you ever need a hand or have any questions, feel free to leave them below and I will be more than happy to help you out.

All the best,

Patrick
Founder of Personal Finance Wellness.

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.