More myths about investing in real estate

Myth #4 – The real estate market in my city is saturated.

This is an impression you may get from attending a meeting of real estate investors in your city. Most likely, many of the attendees will be amateur investors or people curious about the real estate market. These people are the fence keepers who generally take no action. What you should do is keep in touch with real estate professionals in your city and look for opportunities with their help. Experienced professionals in the real estate business can take advantage of the opportunities that come their way no matter what the market conditions are.

Myth #5 – There is not enough space in my city.

This is a corollary to Myth #5. You may feel that because you live in a small town, there is not enough room for real estate transactions. Look at the property listings for your city in the yellow pages. You will most likely find a series of for sale ads. Even in a small town there are likely to be a number of people who wish to sell or buy property. There may be a large number of opportunities available to each investor on average. What might be missing in your city are opportunities with wide profit margins. That doesn’t mean there is a lack of opportunities. Wherever there are homes, offices or commercial complexes, there is likely to be a dynamic real estate market with opportunities waiting to be exploited.

Myth #6 – I don’t know where to start

It’s probably true. It may be that it is not so much a myth as a dilemma. You may be hesitating because you know when to make that crucial move, take that first step. The fact is, you need to keep working to create that first opportunity where you can complete your first property transaction. Learn to be patient. Even Donald Trump may have had to go through a learning curve and start with his first deal. In your enthusiasm, don’t rush into completing your first deal without thinking things through very carefully. Never get too confident in a property transaction without considering all the factors and rethinking your premises.