Real estate can be used for so many things: Home, income, Investment, Equity, and much more. The key is knowing all the different opportunities that are available so that you know what your plans for real estate might be.
Let me give you some examples:
Myself I decided to sell my home this year that I lived in and move. There was a lot of equity that I could get out of my property that I had lived in for many years and the interest rates where extremely low. So I sold it and collected the equity profit. I immediately purchased a fixer upper and rehabbed it.
This gave me a good equity position in my new house. That is money in the bank and my interest rate was very low. Low interest rates is also worth money, because of the OPM (other peoples money) method.
Living in a home can mass you a lot of equity. There are some books that teach if you have a payment it is not an investment. I wonder what that same book says about making a lot of money on a home tax free up to certain amounts of money?
Another opportunity is buying real estate for both income and equity. I have clients that do that also. In fact one client is selling their property and getting a nice profit on it. Buying properties that has the best opportunity to create both income and equity is my specialty.
Those are just a few opportunities in an arena that has a lot more of them. Need to know them? Call me I'm Brett Real Brokerage 216-703-5740 or Email BY56083@gmail.com
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Thank you