Everyone dreams of financial freedom, and real estate has long been considered one way to get there — but is it still a dependable wealth-building route to take in the year 2023? As with most forms of investing, there are many complexities and few ways to guarantee a sure thing. In short, experts say — yes — real estate is generally still a very smart investment indeed. “I’m a huge advocate of real estate investing,” says Kimberly Pappalardo, a top real estate agent in Raleigh, North Carolina. “It’s how I started out a long time ago. My husband and I saw an albeit risky opportunity turn into something more solid than we could have even ever imagined.” In her opinion, “By far, real estate is the best way to accomplish long-term wealth and financial freedom.” But you need to know if it’s a good investment for you before plunking down your hard-earned money. And you need to know what types of opportunities can work for you based on your own budget and goals. To help you break down your options and weigh the pros and cons of each, here’s a primer packed with pro tips for each type of real estate investment out there. “I’ve always thought real estate is a good investment and it’s a time-proven fact,” says Rick Ruiz, a top real estate agent in Las Vegas, Nevada. “The biggest reason why is because it’s very inflation friendly.” Think about it: How often have you received notice that your rent is decreasing? In most cases, rents tend to either remain stable or, more commonly, rise over time. As a property owner, the initial amount you paid, whether in cash or through a loan, stays the same — offering stability amidst fluctuating economic conditions. Ruiz also points out the advantages of having a fixed mortgage rate. He explains, “Your payment and your costs are for the most part fixed. Over time, two things are going to happen: rent will increase, and if you use a mortgage, your balance of what you owe your bank is going to decrease.”Why invest in real estate?
