The first person that answered your question is DEAD WRONG and most of the advice you get on here is also wrong. Here is why. You asked is it better to rent or resell and you were given a bad answer because the REAL answer is it depends. It depends on your other income level to determine the tax rate you would have to pay on the short term sale of a house and that affects how much NET profit you will be able to keep UNLESS you know how to do an 1031 exchange and that depends on your knowledge of tax law and what team members you have advising you. It also depends on what your monthly carrying costs for the property are, what the current rental rates and demand are for that type of property in that area, it depends on what the population and job growth numbers in that area are and if you can positive cashflow the property as a rental after taking into consideration ALL costs such as a professional management company, landlord insurance, property taxs, and HOA fees. There may even be HOA restricts that prohibit you from renting the property even if that is in your best interest.
There is NO way ANYBODY can tell you which way is better because NONE of us have all the information needed to determine the correct answer because the best option is the one that makes you the biggest return on your investment and we do not even know WHAT your investment in the property might be and that is property specific so without the numbers on the properties anybody who says this or that MUST be wrong.
Investing in real estate is NOT about properties!!!! IT IS about investing MONEY to make MONEY so it is more about learning how to manage and handle money then it is about “flipping” or renting houses.
So how do you start? Start with Rich Dad/ Poor Dad series , Richest Man In Babylon, basic money management and accounting books/courses/training. The Wealthy Barber.
You are learning to have money make money and using real estate as a vehicle to do that. Make your home your first “investment project” and learn how you can take a 500K tax FREE gain on the sale of it after 2 years if you are married; 250K for singles. Would you move for that much money? Then buy the house based on the profit potential and not because it is “cute” or what color the walls are or how it is “staged”.
EVERY property needs to be analzied to see which technique/investment/lending/holding package will give you the best return on your ivnestment with the least amount of risk. And over time the market changes so the tools you need and how you structure the deals MUST change to fit the market and the property.
You do NOT need to spend money taking courses like another suggested to become a property apprasser. Pick up the phone and find the ONE person who has spent their LIFE learning to be the best appraser and then get them on your team and you have gained 25 years experience in 1 week. Get a local realtor on your team with another 25 years experience, a banker, an attorney, a property manager, and a general contractor. you CAN get OVER 100 years “experience” in less then 1 month without you having to attend or pay for the courses of study required. Become the leader of the team and while YOU do not need to know every answer, you just need to know WHO to go to for the answer.
I invest fulltime in real estate and NEVER try to be the Lone Ranger. There are too many tax law changes, market factor changes, city, count, state laws, regulations, requirments for one person to keep track of and frankly I do not want to spend the time required to keep up with all of them. But I know and use people who LOVE to study taxlaw and another person who LOVES to work on legal issues. I am fairly smart because I use about 6 brains on every question I have.

There are no good online sources for you to learn real estate.

The best place to start is at your local junior college. Take the real estate classes that they offer. Get to know the instructors.

Offer to help the instructors for free in their business for the purpose of learning the business.

One very important skill to learn is how to determine the true fair market value of a property. The best source for that is The Appraisal Institute. Contact The Appraisal Institute and tell them that you want to learn to be a real estate appraiser and that you want to earn your MAI (Member of The Appraisal Institute) designation.

Take all of the training classes offered byTheAppraisal Institute and go to work for a firm that is owned by a Member of The Appraisal Institute. Earn your MAI designation.

This is the best foundation that you can get for a real estate career.

You can then get your real estate brokers license,, which is easy to get, and sell real estate, invest in real estate or you may decide that you wish to stay on as a real estate appraiser.

If you do what I have outlined for you, you will have a better foundation than 99% of the people out there who are running around with real estate licenses but do not know what they are doing.

With respect to renting or selling houses. I have been investing in real estate for 40 years. I do not recommend that you sell realestate if you do not have to.

I recommend that you build up a portfolio of rental houses and keep them. The rent that is paid is a good stable source of income, and the houses appreciate in value.

I wish you great success with your new career.

the best way to check out real estate is to watch the real estate section of the news papers. Watch the prices of the sales of homes in the areas you are interested in.

You can buy real estate cheap by going to auctions and forclosures. These require money up front, but they are the best buy. I bought a parcel of land for ,660. at auction and it was assessed at ,000. I then paid to have the title cleared and the total cost to me wae ,660. I had instant equity of ,000. That I could borrow against.
The property sold a few years later for 0,000. % years to be exact.

go to your local tax office or the tax office of the town or where you want to buy property and ask about tax auctions.

Read up on liens and how to clear them. Some can not be cleared unless satisfied. some can be ‘quieted’ speak to an real estate attorney about it.

good luck..

Check out Brett Wood’s blog:

He’s a UK-based property expert who has written hundreds of articles and how-to guides and has made them all available free on his site.

The first person that answered your question is DEAD WRONG and most of the advice you get on here is also wrong. Here is why. You asked is it better to rent or resell and you were given a bad answer because the REAL answer is it depends. It depends on your other income level to determine the tax rate you would have to pay on the short term sale of a house and that affects how much NET profit you will be able to keep UNLESS you know how to do an 1031 exchange and that depends on your knowledge of tax law and what team members you have advising you. It also depends on what your monthly carrying costs for the property are, what the current rental rates and demand are for that type of property in that area, it depends on what the population and job growth numbers in that area are and if you can positive cashflow the property as a rental after taking into consideration ALL costs such as a professional management company, landlord insurance, property taxs, and HOA fees. There may even be HOA restricts that prohibit you from renting the property even if that is in your best interest.
There is NO way ANYBODY can tell you which way is better because NONE of us have all the information needed to determine the correct answer because the best option is the one that makes you the biggest return on your investment and we do not even know WHAT your investment in the property might be and that is property specific so without the numbers on the properties anybody who says this or that MUST be wrong.
Investing in real estate is NOT about properties!!!! IT IS about investing MONEY to make MONEY so it is more about learning how to manage and handle money then it is about “flipping” or renting houses.
So how do you start? Start with Rich Dad/ Poor Dad series , Richest Man In Babylon, basic money management and accounting books/courses/training. The Wealthy Barber.
You are learning to have money make money and using real estate as a vehicle to do that. Make your home your first “investment project” and learn how you can take a 500K tax FREE gain on the sale of it after 2 years if you are married; 250K for singles. Would you move for that much money? Then buy the house based on the profit potential and not because it is “cute” or what color the walls are or how it is “staged”.
EVERY property needs to be analzied to see which technique/investment/lending/holding package will give you the best return on your ivnestment with the least amount of risk. And over time the market changes so the tools you need and how you structure the deals MUST change to fit the market and the property.
You do NOT need to spend money taking courses like another suggested to become a property apprasser. Pick up the phone and find the ONE person who has spent their LIFE learning to be the best appraser and then get them on your team and you have gained 25 years experience in 1 week. Get a local realtor on your team with another 25 years experience, a banker, an attorney, a property manager, and a general contractor. you CAN get OVER 100 years “experience” in less then 1 month without you having to attend or pay for the courses of study required. Become the leader of the team and while YOU do not need to know every answer, you just need to know WHO to go to for the answer.
I invest fulltime in real estate and NEVER try to be the Lone Ranger. There are too many tax law changes, market factor changes, city, count, state laws, regulations, requirments for one person to keep track of and frankly I do not want to spend the time required to keep up with all of them. But I know and use people who LOVE to study taxlaw and another person who LOVES to work on legal issues. I am fairly smart because I use about 6 brains on every question I have.