New real estate investors jump too fast to get involved with real estate investing as a result of new house flipping shows.
Florence, AL (PRWEB) June 21, 2006 -- Most people see nothing wrong with the new shows surrounding flipping houses. You’ve even probably seen these shows as it entails a real estate investor who buys ‘run down’ properties to fix, then “flip” as they call it which simply means you sale the house for a profit. This takes place all while the camera crew is standing by video taping everything going on. Most find these shows entertaining, however one real estate investor and trainer claims the shows to be a huge pitfall for most new investors just starting out in the business. “Most new investors that watch these TV shows feel they can go out, flipping houses without any training whatsoever”, claims Derek Pierce, a full time real estate investor and teacher. “This is a disaster waiting to happen as these new investors will get in over their heads losing thousands of dollars, before they know what’s hit them. And as a result will find themselves wondering where they went wrong.”
Pierce says there is more to investing in real estate than what the shows let on. He continues by claiming, “money is made when you buy a property, not when you sell.”
Pierce offers the following advice for those just getting started, “you must always be sure to have a clear title to the property, your property and rehab estimates have got to be precise, and it’s important to know why someone wants to sell. Also, don’t be afraid to pass on a deal because there will always be other deals in the market. It’s not the deals that you pass on that will break you, it’s the dumb deals you should have never been involved with.”
About Derek Pierce
Derek Pierce is a full time real estate investor and business owner. He started investing in real estate when he bought his first property in September of 2000. After this first deal, Derek literally became obsessed with Real Estate Investing. After being faced with the possibility of being downsized in 2001, he quit his job to be full time in the business and hasn't looked back since. Now he reveals his Creative Real Estate Investing Tips on the web at http://www.thereisecrets.com
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