Some things you should think about now that the real estate market is going down, is that, people will always need a place to live. If you have some cash lying around, waiting for the right real estate investments might make sense. Remember, Donald Trump invested in New York City when it was falling apart. People haven’t seen reasonable prices like this in a while You need to remember that if you can snatch up valuable real estate while the prices are low, and sell them when they are hot, you can make a lot of money. Its insane to buy while its rising. Buy it when it has tanked. Remember location, location, location. If you know people are always going to work in NYC, then you know the real estate around there is valuable.
While some people say the baths and kitchens sell a house, if its out in the middle of no where it is going to take longer to sell. Unless all of a sudden everyone likes living in the middle of nowhere. In which case, buy it.
Some people say rent to own is the way to go. It works for the renter, but ties up a property that may be increasing in value when the market takes an upswing. So its not a good investment strategy for the owner to allow rent to own.
Some people talk about tax liens as a way of getting a property cheap. But few people will let go of their home for $1900 or so, and will borrow from a family member to get it, thus you get the short end of the stick. So unless you really are a real estate whiz, tax liens are a very complicated and risky investment. You could lose it all.
Some people will say anything to get rich, I will not name names, but this one book said to invest in tax liens and the rent to own schemes. And my accountant uncle said they were really unwise investments. Unfortunately there are people who will try to prey off people desperate to improve their situation, but schemes such as these are doomed to fail.
Only by doing research into real money making opportunities can you succeed. There are more millionaires in unglamourous industries like driveway sealing than movie stars. Maybe you should find something that others don’t want to do and do it for them for a profit. Like a personal chef, or a dog walking service. You can market yourself as the neighborhood savior who does the jobs others won’t do. Or not. But the point is, there is money to be made scrubbing toilets and babysitting. And shouldn’t you get a piece of the pie?