What is the quality of life of a real estate investor?
I'll start my finance degree in the fall and aim towards becoming a real estate investor. What is life like starting out as an investor? What is life like 10 years after starting? 20? #finance #money #real-estate #real-estate-investing
It depends on how you intend to invest, buy houses, appartments, small strip malls, office buildings, ect. I would advise getting a job at one of the big real estate investment/management companies in your area to learn the terminology, how the business is run, financial modeling, legal issues, contractural issues and attain a good overall knowledge of the industry, then you would be better trained to make good investments. A bad real estate investment can cost you all you invested and send you into bankruptcy quickly. When I was 27 I owed Wells Fargo $7,500,000.00 in 1987. Iraq invaded Kuait, and was blowing up all the oil wells. I was fearful of a recession and was sitting on 200 lpta, 35 finished homes, 75 under construction and had a 350 unit appartment under construction. I thought I was dead, it was overwhelming, the stress was horrible. In the end I did very well, but the business has waves. Events like to 2008 housing bust was a killer to some that had very little equity in their properties and went under water. My wife and I bought 5 houses at the bottom at about 110,000.00 a piece. Last year i sold them for $275,000.00 a piece and purchased an appartment building.
It can be very profitable but many people loose their money due to lack of knowledge and common sense. Learn the industry prior to trying to invest.
This depends on what area you want to invest. Residential? Commercial? Do you want to be a landlord, broker, property manager, etc? What area do you like the most?