What’s the best path to building wealth in real estate? Should you flip, rent or hold? With all the quick-buck, get rich by flipping reality tv shows out there it can get downright confusing and often misleading. One thing we know to be true; It’s not easy…..However, hard work, sound advice and due diligence will always pay off. Recently, Realtor.com looked at five big real estate investments that everyday folks may want to consider. Then they broke down the typical returns of each one along with the pros and cons of each type of investment. National REIA’s Charles Tassell, a successful real estate investor himself, was interviewed for the story and offers some great advice to those interested in entering the business.
“Newbie investors need to make sure they’re thoroughly familiar with a neighborhood before they consider buying a potential flip in it, says Charles Tassell, chief operating officer at the National Real Estate Investors Association, a Cincinnati-based investors group. This means looking at what kinds of homes are located nearby, what sort of shape they’re in, and how much they’ve sold for. Wannabe flippers should pay attention to the quality of local schools, transportation, and the job market—just as they would for their own home. Those are the things that can make or break a sale. And an investment.”