what exactly is real estate?

Robt Betker: First decide if you wish to be a Real Estate agent, or a real estate investor. Do you wish to work for a client who is trying to buy or sell a property and make a commission? Do you want to buy a property and be a landlord? Do you want to fix up and resell property? Do you want to be in property management? Once you have an idea of what you want to do, I can be of help.

Alexis Reyer: Typicallly Real Estate is an easy way to make money.. when home values are increasing..However, across the nation home values are going down or stagnating. and nobody is buying. I know many real estate agents and mortgage brokers going out of business or going broke because they are not making sales (they only make $$ when they make sales) So unless you have lots of $$ to buy properties at a low value and hold them through the upcoming recession until home prices recover.. This is not a good time to go into the real estate business. its very risky.....Show more

Marna Liddie: The dictionary defines "wholesaling" as the sale of commodities in quantity usually for resale (as by a retail merchant). We usually think of wholesale in connection with large discount stores, such as Costco or Sam's, rather than the sale and purchase of a home. However, the concept of wholesaling works quite well in real estate transactions.What exactly is wholesaling of real estate? It is simply buying and reselling quickly. Occasionally, real estate wholesaling is also called flipping. Recently the term "flipping" has developed an unpleasant reputation. Some people were buying houses and reselling them quickly at highly inflated prices, usually to buyers who were not aware of the true real estate market in that area. And, unfortunately, some of these unscrupulous buyers were working with unscrupulous appraisers and/or brokers who produced phony appraisals and phony loan papers. This activity is not wholesaling of real estate - it is fraud.Real estate who! lesaling, done properly, can be profitable to the person selli! ng the house, the wholesaler and the end buyer of the house. It can be a win-win-win solution. With the state of the current economy, many people are finding they can no longer afford their home. They may have been laid off from their job, going through a divorce, relocating to a different city or state, or their children may all be out on their own and their "empty nest" is simply too big or too expensive. This creates an excellent opportunity for real estate wholesaling.When a homeowner finds they must sell their home, for any reason, this is referred to as a "distressed property" in real estate investing circles. The property itself is not distressed -- it is not (hopefully) falling down or has broken windows and pipes -- it is the homeowner who is distressed. This is an opportunity for the real estate wholesaler to step in and help relieve the distress.Let's say a wholesaler hears from a friend about a family that has to move out of state. The wholesaler investigates th! e neighborhood and after doing his/her due diligence, determines the family's house is worth $100,000. The wholesaler sits down with the homeowner and determines what they owe on the house and what additional money they need to enable them get out of the house and move away. Let's say this amount turns out to be $50,000. The wholesaler buys the house for $50,000. The homeowner pays off what is owned to a bank or mortgage company, then moves out of state with their family and a little extra cash. Then the wholesaler turns around and sells the house to someone else for $70,000.The original homeowner has saved their credit and avoided possible foreclosure. The new owner has a house with instant equity. And the wholesaler has made a profit, while helping both the original homeowner and the new homeowner. This is a win-win-win situation. This is real estate wholesaling.The wholesaler may also decided to do some repairs to the house before selling it. This is called a fix-and-fli! p. The house may only need a small amount of cosmetic work, such as new! carpets and paint. Or it may need more extensive work, such as a new kitchen or bathroom. The wholesaler may either do the work themselves, or hire a contractor. After the repairs are finished, the wholesaler can sell the house to a new owner for more than the $70,000 used in the previous example. This is also real estate wholesaling.This is not a get-rich-quick method of real estate investing. Real estate wholesaling requires a thorough understanding of the current market in specific neighborhoods, an understanding of what repairs and renovations are needed along with their costs, and patience. Real estate wholesaling is a good way to steadily earn a good income, and a way to help distressed homeowners at the same time. ....Property Management Bendigo...Show more

Catheryn Small: Some people work for months even a year or more in real estate and don't make enough money to pay the bills. Something to keep in mind is that you have to maintain continuing education credi! ts for as long as you want to keep your real estate license active. Having a plan, some money saved or another income, will smooth your entry into this competitive business. Budget for several months without any income, perhaps six or more in come cases. Budget for enough money to begin a website and online strategy to build business down the line. However, lots of contacting of people, and beginning your prospects list by the old methods will help you to get started while the slower online process builds. You can call, mail and email every person you know, and you just may pull a deal out of the hat sooner than expected. This will keep you in the game while you build your marketing efforts and business....Show more