How to get Started as a Real Estate Investor
There's more than one way to become a real estate investor. The fastest, easiest way is to invest is in REITS (Real Estate Investment Trusts). They're as easy to buy as a stock or mutual fund since you're not buying a physical property. Made up of commercial real estate, these Trusts include office buildings, retail, apartments and hotels.
You can also buy a 2-4 unit complex, live in one unit and rent out the rest. With this strategy, your loan can be an owner-occupied, Fannie Mae loan. That means a lower interest rate than a standard non-owner occupied loan for a standard rental property. If you decide to purchase an investment property, just make sure you have more money coming in than going out!
Are men or women buyers more likely to compromise?
Real estate is all about compromise. Did you know that 76 percent of all sellers make at least one concession or compromise? The top concession is lowering the sales price (34 percent), according to a Zillow survey.
What's surprising is that there's a big different between women and men when it comes to compromising during a home purchase. NAR (National Association of REALTORS®) research shows that women are better overall at compromising than men. In fact, single males are much more likely to not make any compromises during a home purchase than single females, married couples and unmarried couples.
There are generational differences, too. Millennial sellers – 85 percent – make the most compromises to finalize a home sale, Generation X is next at 75 percent, followed by Silent Generation sellers at 70 percent, and Boomers at 67 percent.
The one thing that home buyers won't compromise on
Many home buyers are willing to compromise on certain characteristics. They'll give in on price (21%), the condition of the home (19%), the size of the home (18%), and even the distance of the home to their place of work (13%).
But according to the National Association of REALTORS®, the two characteristics home buyers are least willing to compromise on are the quality of schools and distance from schools. Just 4% of recent buyers compromised on the distance to schools, and a mere 2% compromised on the quality of schools.
Twice as many recent buyers were willing to compromise on both the quality of the neighborhood and the distance of their home from family and friends.
RE/MAX Northwest Realtors 300 NE 97th, Seattle, WA 98115
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