Getting involved in real estate is a long-term wealth pump, unfortunately not everyone seems to get the hang of it. Having an extra source of income is no harm but finding the best source can take a while.
The unfortunate incident of the COVID-19 pandemic affected a lot of businesses including the real estate business. This has made real estate enthusiasts quite skeptical about taking big step into real estate this year.
Notwithstanding, Winston Deloney, who is an expert in real estate investments is very confident that getting into real estate in this year is a genius move. We had the opportunity to interview him and he shared the rationale behind his conviction.
Winston Deloney, Please Tell Us About Your Real Estate History?
I would say it has been a great journey, because I have been involved in all aspects. I have followed the map through, and I am vast. Overtime, I have been involved in wholesaling coupled with fix-and-flip, but I newly started putting a lot of energy to rental properties.
How Did The Pandemic Affect Your Business?
Funny enough 2020 was actually the best time to buy investment properties. Rates dropped due to the lockdown, so it was possible to get good deals on a single property.
The global pandemic and the lockdown triggered investments in residential areas. Taking advantage of this opportunity brought in a lot of profit.
What Is Your Advice To Real Estate Enthusiasts?
Before going into real estate, you need to set clear, sustainable and achievable goals. When you have a set goal, it becomes easy to overcome whatever obstacle you might face on your journey.
Also, study the available financial plans to know the ones that will be right for you. You can check out my real estate blog for great investing resources.
What Areas Of Real Estate will Skyrocket In 2021?
Well, I am positive there will be a pump in some areas of real estate in 2021, especially the residential and commercial areas. This is because these two areas involve rentals and getting rental units doesn’t come with the huddle of liquidation.
What Is Genius About Real Estate In 2021?
There is a future in real estate but not everyone sees the potentials in it. The market is growing continuously with the constant demand for residential as well as commercial areas.
2021 will be a great year for its growth. For those with a long-term goal in mind, I’ll advise that they get as much training and experience specially with rental properties as it’s one of the surefire ways to build long-term wealth.