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What’s The Right Real Estate Investing Strategy For You
What is the right real estate investment strategy for you?
Well, that will depend, and it’s different for everybody. Well maybe not everybody, but it’s certainly different for different people. And by that I mean, what is it that you’re looking to accomplish? So, this comes back to setting up your long-term goals, your short-term goals, and understanding what it is you are trying to achieve.
So, for example, if you’re looking at generating some short-term income because you want to get rid of your day job right away and you want extra cash right away then you would look at some of the short-term income investment strategies. Those include things like referrals, wholesaling, and lease options. Lease options have a combination of both. So, lease options are sort of in the middle. You could also do fix and flips. All these strategies will generate immediate income for you.
Then what you want to do is you want to use that income and to either pay yourself a salary, if that’s what you need, and also to invest in long-term strategies. Now, if you really like your day job and you’re only looking at real estate as part-time, or as a way to augment your current income and just as another stream of income, then you look at long-term strategies right away.
Long-term strategies include things like rental properties, private equities and real estate investment trusts (REITs). Notes could be a long-term strategy that is investing in private mortgages.
The investment strategy you choose is really dependent on what it is you’re trying to achieve and your current situation.
Okay? So that gives you an idea of how to go about choosing the right investment strategy.
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