By Ed Zinnamon
I have been a licensed real estate broker for over 23 years focusing on investment properties. I’ve worked with hundreds of real estate investors. Some have created great wealth while others lose a great deal of money. Is it about the right time or the wrong time? I have seen some create great wealth and I have seen some lose a great deal of money. You might think it was all about the right or wrong market timing? That’s only part of the equation.
It takes little research to discover Oklahoma City is a good investment market right now. The real question is, is it truly good for you? If not now…then when? Knowing that is only the beginning.
Successful investors do their homework before they take the plunge. They choose the avenue that works best for them. Some worked multiple paths, but usually started out with just one. Most importantly, they understood the overall investment market.
For instance, you may want to be a rehab/flipper. Many people make great money doing this. Or, you may want to be a rehab/hold investor who rents the property out for the long term.
The important thing is “do your homework.” Build a team of realtors, contractors funding sources etc. to ensure your success.
A very good time to start building your investment team is when deciding what direction you’ll pursue.
I’ve noticed that most investors who’ve lost money invested outside areas where they educated themselves and obtained counsel from experts. There were red flags, but they thought it would be a great flip. These scenarios go on and on.
I have a lifelong friend who has been investing in several different areas of real estate. He started in the 1970’s. He taught me early in my career that research and knowledge regarding a real estate deal reduces the amount of risk.
The flip side of all of this information is … I have seen investors read all kinds of books, ask lots of questions from experienced investors, invest in teaching materials and attend seminars … but they never pull the trigger and invest in a property.
So, back to the question, Investing in Real Estate …. If not now, then when? Invest now! If you haven’t, then the answer to the “then when?” is when are you going to start doing your homework so you can start investing in real estate?
One way you can start moving forward is by networking with other investors. Let me invite you to the next Millionaire Possibilities Real Estate Investment Association meeting here in Oklahoma City. My partner and the founder, Robert Elder, will be speaking on what one thing you can do to create the biggest impact in your life. I am very excited to hear him and I know you will benefit from his teachings.
Our next meeting is October 3, 2013 at the Country Inn Suites located at 3141 Northwest Expressway in Oklahoma City. The meeting starts at 7 pm. Come early for our MP Mixer as dinner will be served at 6 pm. This is a time to network with vendors and other investors with all levels of experience.
For more information you can call Dawn at 286-2000 or go to our web site mpmeeting.com. I hope to see you there.
Invest In Real Estate? If not now…then When?
By Ed Zinnamon
- News Briefs from the Capitol: Ladies take the lead, Republican legislators don’t like Biden, and other newsNews Briefs from the Capitol: Ladies take the lead, Republican legislators don’t like Biden, and other news
- Oklahoma State Representative John Talley of Stillwater will lead Interim Study on Opioid PrescriptionsOklahoma State Representative John Talley of Stillwater will lead Interim Study on Opioid Prescriptions
- EXPLAINER: How Oklahoma evictions might spike after July
- Global Performance Artists come to Armstrong Auditorium in Edmond (Oklahoma) for 2021-2022 Season
- Goodwill Industries of Central Oklahoma to host Fashion Show for 85th anniversary