For hundreds of years, investing in real estate has proven to be one of the safest ways to accrue wealth over one’s lifetime. As the saying goes, “There’s only so much land on this earth, God isn’t going to make anymore.” There is some truth to this statement however. For as long as civilization can remember, the wealthiest individuals of society have almost always been land owners.
As most people involved in real estate have probably heard about it in the past, the most important quality of any property is location, location, location. San Diego, California is one of the most desirable geographical locations in the United States when it comes to real estate. With near perfect climate, professional sports teams and great schools, it’s easy to see why San Diego appears to be on many people’s short lists of desired places to live.
San Diego boasts an exceptional job market with higher than national average incomes in order to compensate for the above average home prices. Several investors have found great success when it has come to investing in real estate in San Diego such as Seth O’Byrne. Seth has made several local news appearances on the benefits of investing in real estate in San Diego and some of the key tips to his success. Another real estate guru when it comes to investing in the San Diego market is Drea Rose. Drea is very active within the local community and because her hands are constantly on the pulse of the market through her involvement, she often knows about market changes before they occur.
The beauty of investing in real estate is that there are several ways one can turn a profit. First there are those who are professional house flippers. The concept behind house flipping is purchasing a home below market value, then investing money into the house on key areas that are going to drive up the value of the home exponentially (i.e. kitchen, master bath, flooring, etc). Whatever the difference in between what one purchases the home for plus renovations minus what they sell the house for is then called the profit. Some of these profits can be as high as six figures!
The second way of turning on a profit when it comes to investing in real estate in more of long term play. This consists of purchasing a property, renting it out and collecting monthly rent. At the same time the investor is increasing equity from the value of the home going up over time.