Although you have heard it before, and probably in your sleep, the honest truth is that you can make money in real estate. There are a number of ways it can be done, and before deciding on which way to go, it is well worth the time and effort to get educated, because there is most certainly a learning curve involved. There are people doing it though, and you can surely become one of them by getting involved in one of the ways mentioned here.
Foreclosed homes are currently providing an excellent way to get involved. It is likely the most popular due to the number of homes that have been reverted to the bank, and there are more on the horizon. You may need to be very handy, or certainly have the ability to pay for the repairs that will likely be needed since these homes often need some work and the banks sell them as they are with no fixes in the deal.
You might also consider defaulted bank notes as a way to turn a profit. The idea here is to buy defaulted loans and sell them, typically to investors, at a profit. In can be done, however you may end up owning property you didn’t plan to own. As with any other option, you could lose a lot of money in this game, so make sure you know the ins and outs before you get started.
You could also become a landlord. While this is perfect for some, many people get involved in rental properties and regret it. Tenants can be a hassle. Home repairs and improvements can be a hassle and can get very expensive too. Of course there is the management of all these aspects on a day to day basis. It can be a great way to develop positive cash flow when done right, but rental properties can break you too.
Of course you could always become an agent. Getting your license is the same now, more or less, as it has ever been, although there is a lot of knowledge required to succeed. Still, while some agents are failing, others are doing quite well. If you think you have what it takes, look in to getting your license and the other ways you might get started.
Investing in property, residential or commercial, might appeal to you if you have some cash or easily accessible credit. You might do this alone or as part of a group, and often there is safety in numbers. Just make sure you are dealing with professionals.
You can lose money easier than you can make it, but you certainly can make money in either of these ways and lots more. Be certain you become educated in whichever direction you choose to go so there are no regrets down the road.