Thursday, January 6, 2011

can you still make a fortune in real estate?

can you still make a fortune in real estate

Of course you can.

careful though, if you think its as easy as just putting your money down on a new condo and waiting for it build to realize the gain due to appreciation, you may be in for a rough ride ahead.

I subscribe to the philosophy that only invest based on things you can control. if you cannot control something, you should not factor that in your equation.

so let me ask you, can you control appreciation? can you have a direct impact on the value of housing prices? or are you simply speculating on the fact that the prices have come down lately and are bound to go up considering historical performance of the market?

the answer in most cases is no. as an individual investor, we cannot control housing prices, the market etc... or any other macro economic elements.

so, if you're investing in real estate based on factors you cannot control, i call that speculation, not investment.

About the Author: Ravinder Tulsiani is a published author who has
written about personal finance, real estate, self-help and online