There are tons of misconceptions about real estate investing—the main being that you need lots of money to become successful. Or time. Or deals. Not true!
Speaking of which, check out BiggerPockets Podcast Episode 272, which tackles this masterfully.
Fortunately, most of the myths surrounding real estate are pretty much just that — myths. Heck, I started with $79, later an FHA deal. (There’s also fear of failure.)
In this video, I break down four myths about investing in real estate. Check it out!
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
1. You Need a Lot of Money
You can start with little down on a rental and grow your assets that way. As your properties gain equity, you can continue to invest.
2. That You Need to Find Flips
Flipping a house looks easy on TV, but there are easier ways to get into real estate investing.
3. You Have to Find a Great Deal
As a first-time investor, start simple. Find something recently renovated and rent out the rest of it. It may not be priced at a discount, but in the right market you’ll make cash on the rental.
4. The Market is Cyclical
With income-producing real estate, the value isn’t tied into supply and demand, it’s tied to the income in produces.
What myths about real estate investing have you heard?
Share them below so we can take a look!