I am 20 years old and have been doing extensive research on investing in Real Estate and Buying/Selling properties quickly. I think I know enough that I could start investing but for some reason I can't get myself to make the first move. I'm not sure if it's a fear of failure or what. I have everything planned out to a T but I'm having a difficult time starting. Any words of wisdom or advice would be greatly appreciated! Thanks in advance!
2006-11-06 02:58:28 · 4 answers · asked by boarder054 1 in Business & Finance ➔ Small Business
Go for it!!! Just be very selective in the first house you buy. pick a neighborhood that has a quality school district. I fpossible buy a ranch style home, they sell much more quickly.
2006-11-06 03:02:39 · answer #1 · answered by Paul V 6 · 0⤊ 0⤋
Hi, how can you "fail" if you never try! For inspiration look up the life of Abe Lincoln. Read how many times he "tried" and "failed". It truly is an inspiring story of never giving up once you have started. You can research everything to death, but never take that first step, you will never know if all your ideas would have worked. My husband and I talked for years of having our own restaurant and finally the chance came up for us to do it. Within one year we increased our business 100% and found out all the ideas we had batted around for over 10 years were right on the money for us. Had we not taken the chance when it came up we never would have known for sure. I can tell you that with all the possible headaches that may come along the rewards are much more. Take a big deep breath and jump off the diving board and go for it! Good luck to you.
2006-11-06 03:27:20 · answer #2 · answered by arthurbel33 4 · 0⤊ 0⤋
Your extensive research is about to become worthless. Your research covers mostly the period of increasing prices. The price trend, however, is about to revert (actually, an argument can be made that it has reverted already).
Yale's Robert Shiller constructed an index of U.S. home prices going back to 1890. He found that between 1895 and 1920, U.S. home prices declined more than 40% in real terms. We may be in the beginning of a similar slump right now.
Longer-term evidence from the U.S. is not available, but we do know a few things about Europe. Piet Eichholtz from Amsterdam Institute of Finance constructed a home price index for the upscale Herengracht district in Amsterdam in 1628-1973. To his surprise, he found that real home prices in Herengracht barely doubled over almost 350 years, meaning that mean annual return was a measly 0.2%.
2006-11-06 04:13:36 · answer #3 · answered by NC 7 · 0⤊ 0⤋
I have a friend that has been putting off starting his own biz for over 20 years.Either you are going to do it or not! Maybe your fears are because you do not believe in this venture,if so then don't.If you believe in it then go for it 100%,anything less will only produce failure
2006-11-06 18:01:37 · answer #4 · answered by want2wild 5 · 0⤊ 0⤋