Instant Real Estate Riches, still don’t exist!

Our troubled economy is forcing many people to look at alternative investments. In the real estate industry, just like in most other businesses, there are those that promise returns that sound very achievable but in reality, are very unlikely to achieve the promised return.

 

Yes, there are opportunities for those knowledgeable to make a return on real estate investments, but they will not be instantaneous.

I spent the afternoon visiting with a referral who has been retired for several years. The fear he  was that his money was going to run out before he and his wife died. Watching too much TV, listening to get rich schemes in real estate ( make $10,000 or more each month) flipping made easy, etc.  has led him to a decision to take all his remaining money and buy homes, fix them up and flip them.

Four hours later, after looking at his lack of ability to do repair work, his lack of knowledge about the real estate market and the ” what would happen if this investment did not work” he finally decided to rethink his position.

I was able to help this person, and we are looking at other solutions to his problems, but what if he called someone who just wanted to make a sale? There are a lot of people over 65 that are in similar situations, please don’t believe that easy and fast money can be made in real estate.

Always talk to someone before you leap into the unknown.

Nick Petra

Designated Broker

Arizona Real Link

petra@azreallink.com

www.phoenixmetro.listingbook.com

phone: 602-989-1592