There had been an ABC Reports story that found my desk today on property Flipping. It was one of those, "this is where everyone seems to be getting rich" stories that has a tendency to send an entire bunch of "get-rich-quick-types" running out to buy investment property without so much as a clue as to how much work- or risk- is concerned. ABC might as well have announced, "Dot com stocks are back ; buy Pets. Having worked with a selection of investment properties over the last many years, let me first say YES it is feasible to make a pleasant living working with investment properties.
However, I have also met lots of people who have failed unhappily at it. Watching videos or reading the Net, but they never appear to seek recommendation from precise stockholders working in their local marketplace. "* though I'd add bank to that list as well, the point to be made has a core group of professionals from each facet of the investment stage to help should something ! go screwy can imply the difference between earning a return and losing your self-evident shirt. From my experience, most wannabe stockholders are scared of looking "stupid" in front of other financiers, or are fearful they're going to be understood as competition. Trust me ; successful stockholders don't see a first time neophyte as a threat. The majority of you'll fail so there's no need for the expert to feel angst by the presence of an amateur. And remember because rules and regulations alter from state to state, and town to town, the "great advice" you get from somebody online in California can land you in hot water in Missouri. In fact, the differences between a longtime inner city and a budding subburb can be night and day. However, some have a hard time doing "whatever it takes", to run the business.
If you would like be a franchisee, accept the incontrovertible fact that you'll have a "franchisor" steering and directing you. Millions. They have at much at stake as you, and their r! eputatio n is on the line. However, some new franchisees, coming from company positions, may feel they do not need any direction and know best on ways to run the business.
Be in a position to accept the incontrovertible fact that you do not "know it all", in any case of your past experiences and experience. Look after your current assets and minimize your exposure and weakness to guilt if the surprising occur- like somebody becoming wounded on your property, loss due to burglary and possible items not covered under your insurance policy ( that is another story for another day- which I can post to my blog at clickbank ). Not to beat my personal drum, but my experience in these matters is first hand and once you have worked with investment properties you may realize it is not like purchasing a home to live in. Making an investment in property should be approached like every other investment.
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