Investing in real estate is not for everyone. You have know doubt seen those advertisements about getting rich by buying real estate with no money down. You buy a house or property cheap with no money down at a low price and then (flip it) sell it for a nice profit.

What they don't tell you is what happens after buying the property you can't sell it in a timely manor. You have to remember that while you are waiting to sell you must make payments on the loan to buy the house and you must also have the house insured and pay property taxes as well as any costs incurred to sell it. Waiting six months to a year to sell could end up eating up all of your profit and possibly have you end up with a hefty loss.

Remember most real estate properties that are cheap have underlying problems. They could be tax liens, structural defects or in an undesirable location.

Posted: Friday 9th June 2006, 4:39 AM

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