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So, we now live in an United States that has gone through another housing bubble. Even the luxury real estate in Arizona saw a big hit, which has been historically one of the best areas. The interesting thing is, history always repeats itself, so if you watch on a long enough timeline, you’ll be able to pick out the trends. This happened again between 2006 and 2008, when the loan and housing market got flipped upside down, wrecking many loans and causing financial chaos for many families.
However, if we flip the situation on its head for just a moment, it also presented one of the biggest transfers of debt free wealth in a very long time. This is because, the individuals who still had cash were able to buy properties at historically low values, and ride them back up into profits. This is how you make a sound real estate investment. It’s not the easiest way, and takes a lot of timing, but it can be done.
Another way is through fixing up all properties, knowing the right people and getting the right work done. This way, you’re able to essentially flip the house, like they do on many of those TV shows. It’ll take awhile for you to get profitable and faster as you understand what is needed and what is the best route for the highest profits.
Once you get better at it, you’ll understand what a good property looks like, what repairs you can do and how quickly, as well as what isn’t necessary to get it sold. Once you have these attributes down, you can then get it fixed and resold, pretty quickly (once you have the right relationships and connections). No wonder real estate has always been an investment favorite by us, but it does take the right skill and timing.