Graham Stephan is a self-made millionaire that made his big break by selling real estate. He shares his insight when it comes to knowing the real deal in property investments. In this Stratford Management Inc Seoul Korea review, he discusses the biggest lies in the industry, and what these mean. Check out his main points and learn from an experienced and credible real estate professional.
Here are the common myths involving real estate:
One of the most common misconceptions is that you have to give up your full-time job to pursue property investments. You don’t have to do real estate investing full-time. Many successful investors do it on weekends. The most important thing is focusing on evaluating the number of properties and identifying a good deal. As Stratford Management Inc Seoul Korea also recommends, hiring a property manager or real estate agent can do the time-consuming tasks to save you time and effort.
Buying real estate is expensive. It’s not for everyone and sometimes, it can be a bad idea, and renting could be the best choice. Renting can be better is you’re new in an area and buy a home until you understand the region. Also, if you don’t plan to keep a home for more than five years, then renting is a more superior option.
The reality is that buying a home and selling it after four or five years won’t give you a guarantee of higher returns. It’s best to buy a home if you have plans to keep it seven to eight years. Also, you can spend a tremendous amount of money to run a business instead of keeping it on real estate.
Multiple listing services or MLS is a public database of homes. Unlike general misconceptions, this platform provides plenty of real estate properties. The source of the real estate deal doesn’t matter. Many people overlook listings on MLS, which can make a great deal.
When identifying a good investment, the two most important things that matter include the value of the property after expenses and how much an investor buys it. The quantity doesn’t matter, and you might save yourself from the stress and the hassle of managing several properties.
There’s a myth that you should wait before you buy something. You shouldn’t wait for market crashes until it’s too worst. It might be the endpoint in which the market will start to rise again. Real estate increases in value over time. As long as you select prime lands in developing areas, you will reap the rewards of your investments.
Every investment has its respective timing, as the Stratford Management Inc Seoul Korea review discovers. Graham has raised some valid points on buying real estate properties. It is best if you base your purchase on your cash flow more than waiting a decade to buy a very cheap property. After all, real estate’s value increases over time.