It’s a great investment, but are you ready?
Are you thinking about purchasing property?
While we are obviously big believers in investing in property, we acknowledge that it’s not for everyone. At least, not for everyone in their current stage of life.
There are times when you need to take a good, hard look at where you are financially, professionally, and personally, and decide that property investment might not be the best decision at the moment. But how can you know for sure?
Here are three reasons that should stand in the way of you deciding to purchase property:
How Much Debt Do You Currently Have?
“Debt” has a bad connotation, but in fact, it can be the key to building wealth and a better future. After all, student debt is a massive problem, but many people couldn’t get that education without it. The problem is when your debt-to-income ratio starts to get out of hand.
If you’re going to be purchasing a house, then you will likely need a mortgage. Even if you qualify for one, the added burden of debt will follow you for years. If your debt-to-income ratio starts to go in the wrong direction, then you could be in trouble, especially if the economy takes a turn.
A safer way to invest in real estate and property is to do it passively. Here, you aren’t going “all in” on a property by yourself. Instead, you’re giving some of your money over to real estate investment professionals who will be purchasing it on your behalf. You don’t own the entire house but own a portion of it instead. This arrangement dramatically reduces your risk of accumulating too much debt while still earning you money.
Do You Have The Time?
Some people say that time is our most precious resource, and we’d agree wholeheartedly.
Buying a home or another piece of property is not something that you can do on a weekend. It requires a massive time commitment. You need to search for properties online, find the right real estate agent, go on showings, decide to buy, meet with lawyers, meet with bankers, sign the papers, and finally MOVE.
In other words, if you don’t have an abundance of time on your plate, then purchasing a property can be a spectacularly bad idea. It’s going to eat up countless hours of your life, and even more if you don’t have experience buying houses.
The obvious solution to this is to invest in real estate passively. Rather than needing to take care of all the details of the search, sale, and prep, you simply need to provide the money, and Regalway will take care of the rest. We do this kind of thing for a living, so as far as we’re concerned, the time spent on purchasing property is time well spent! And if we can do it on your behalf, well, that’s all the better!
Do You Have The Experience Needed?
Have you ever seen the movie, The Money Pit?
In it, Tom Hanks and Shelly Long purchase a distressed property, only to find themselves in WAY over their heads. It’s a hilarious film, but there is also a lot of truth in it.
We’ve often heard stories about people deciding to get into the house flipping business but discover that it’s way more work than they could have ever expected. If you’ve ever seen an episode of a home-flipping show, it might seem like it’s going to be easy money. The reality is very different.
Experience is one reason why so many people looking to invest in real estate passively come to us. They know that we have the expertise needed to successfully renovate a property without turning it into a “money pit.” Purchasing a home on your own might sound like a good idea, but it can rapidly start to cost you money. On the other hand, when you invest passively, you don’t need to worry about any of the details of home repair, renovation, or contracting. You just need to keep your eye on the money side of things and let the building professionals take care of the construction/reno!
But in the end, the #1 reason to avoid purchasing property is if you have no idea what you’re doing. If that is the case, then your first stop should be to get some expert help. And that’s exactly what we provide at Regalway.
Over our 15 years in the business, we’ve worked with passive investors ranging from those just entering into real estate investment to experienced investors. The thing they all have in common is that, by investing in real estate through Regalway, they can be sure their money will be in good, experienced hands.
If you’d like to learn more about how you can passively invest in real estate, we invite you to book a consultation with us today! Let’s deal with the issues that prevent you from purchasing property so you can start growing your money through passive real estate investment!
Regalway Homes | firstname.lastname@example.org | +1 844-977-2679