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Build Wealth Through Real Estate Investment
One of the best roads to financial freedom and wealth has and always will be the good, solid, income producing real estate investment. Today, more multi-millionaires are being created in real estate investment than any other sector such as stocks & bonds, gas & oil or precious metals.
Real estate investment is the safest of all investments. 70% millionaires are made through investing in real estate. Over the next 10 years, the US population will grow by 40 million and the world population by 1 billion. More places will be needed to live, work, commute and shop.
The real estate investment market has been growing with a few major fluctuations compared to other form of investments. Many factors may be attributed to this constant growth.
● Government Incentives: The government of the United States has granted multiple tax breaks for real estate investors. For example, the popular 103 exchange.
● Huge influx of amateur investors: The real estate investing is so profitable and safe that it attracts a number of amateur investor’s everyday.
● Profit on other's money: Banks are always ready to part with money (loans) for real estate investing because unlike other forms of investing, they have something tangible they can mortgage if you can't pay up.
An experienced real estate investor does not fear slump in the market as their actions are not based on mere speculation. They invest by doing their homework and truly understanding, what they are getting in. If you are considering getting into the real estate market, following are the tips:
1 Read as much literature as you can about the industry. People, who excel in any field, never stop learning.
2 A mentor, who can teach you the tricks of trades is an asset. You can ride with them as they scout properties, draw contracts and settle on real estate deals.
3. Take interest in your neighborhood Real Estate Investment (REI) club. You will meet many experts as well as newcomers that are in your shoes. This is your chance to build relationships.
Every business centers on relationships - especially in real estate. In fact, this may be how you find your mentor. The first deal might be the most difficult one. You will ease into the process after your initiation. You will also start building wealth through accrued equity in your properties..
The real estate market is booming like never before in the history of investments and the players of it are being rewarded more than their expectations.
About the Author: Phil LaBoon is a well known author who writes articles on finance and investment, real estate, etc. for www.investrealestate101.com