The topics that I chose to compare and contrast are the real estate strategies renting and flipping. I chose this topic because I am interested in becoming a real estate investor and plan on using both strategies to grow my portfolio. Real estate investing allows you to grow your wealth by accruing passive income and reinvesting. My overall goal is to be able to retire young and use the passive income from my real estate business to pay the bills.
Investing in real estate can directly affect a country’s GDP by affecting that country’s residents’ willingness to buy properties (Ma, Xu, Xu, 2016). Renting houses is a long holding strategy, allowing you to profit over a long period of time while flipping houses is a way to get quick cash if done correctly. Because I intend to open my own real estate business one day, I have done quite a bit of research on business strategies. Both flipping, and renting are ways to build wealth while growing and expanding my portfolio. I believe that with the right mentality and methods I can be a successful real estate investor.
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We’ve all heard the saying that kitchens and bathrooms sell a house, but to me, the key areas of a house are the kitchen and the master bedroom. I think these areas are key because that is where the homeowner will be spending most of their time. When you intend to flip a house, you want to buy a bad house in a good neighborhood; this is essential to ensure that you will successfully flip the property for a profit. Flipping houses usually takes some handyman knowledge or at the very least the ability to juggle