Unfortunately (and predictably), the answer to that question is it depends. Those that describe buying a foreclosure now as a “no-brainer” are grossly negligent in their advice. The most famous statistic being thrown around sounds like this, “Banks are willing to take 50% for their Real Estate Owned Properties”. That is a somewhat true statement. It is acceptable for me to believe that banks are taking offers that are 50% for properties that they are taking back. However, they may not necessarily be giving the properties away for 50% of what they are worth. More often than not, banks may be willing to take 50% of what is owed on the property. These are two hugely different things.
One important aspect to learning how to start investing that many people fail to do is to clearly settle on what are their financial goals. How much money do you want or need to earn? By what date do you need to have this amount of money by? Or, if you are looking for recurring income, how often do you expect to earn this same amount of money? By setting clearly defined financial goals, you will be able to chart your course in such a way that you will make the appropriate investing moves that will help you to reach that goal on time and on the money. Goal setting is critical to knowing how to start investing.
The South African Krugerrand comes only in one size of 1.0909 troy ounces. The coin is made from gold alloy that is 91.67% pure. The premium of the Krugerrand is among the lowest of all national coins at around 4% above spot price.
The second reason is that most people do not have the endurance and patience to invest for the long term. It takes consistent contributions to your investment fund every month, for several years to take advantage of wealth investing. It can take 7 -11 years for your money to double, but once that happens, and you let your earnings double, and those earnings double, you’ve really struck it rich.
Just as Murphy’s Law states, you will inevitably encounter road blocks along the way, some minor and some major. It is important not to give up or allow set backs to derail your progress.
Buying and selling real estate is a risk – make no mistake, and it is a very LARGE risk at that. Part of the problem with the real estate market today is because [mostly novice] “real estate investors” rushed to cash in on rapidly escalating prices of real estate. Econ 101 – supply and demand. They bought recklessly, not intelligently, and now find themselves stuck with properties (whose values are resetting just as quickly) that they can’t unload. You must be aware at all times that any purchase you make, you must be prepared to hold if necessary. This is investing 101. Pay attention to the market.
In the forex market you need to understand that this market is constantly changing and you need to be on your toes when you are finally investing for real money. The great thing about the forex market is it is open 24 hours a day, 5 days a week. No investing market can even come close to comparing to this. The stock market is only open from 9-5 Monday-Friday. With forex trading, it can fit anyone’s schedule so there is no excuse your day job is conflicting with your ability to trade on this market. Good luck in your forex investing, if you do it right you could be well on your way to over 6 figures a year!