This is the only solid bank owned property in Livermore in this price range. The few other ones I previewed had mold and location problems. This home at 5361 Lilac has good curb appeal, a nice floorplan and lots of potential. In a market where we are lacking quality homes, this one shines on the brighter side. Come with a paint brush and cleaning supplies, but this is a home that buyers should consider in Livermore.
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National Association of Realtors reports that on average, investors today plan to keep their real estate investments for 10 years. A long term stratedgy builds wealth while a short term one is more risky and speculative. "Buy and hold" is a safer way to build wealth.
I look at it like this,….over time, the appreciation of your investment makes money for you in the long run. If you hold property longer than 5 years you can get a tax break as well. Better yet, you can roll your investment into other investments and delay paying taxes till many years in the future.
Buying and selling quickly to make money is a job, not investing. Some people call this flipping. It hard work, it's risky, but done correctly, can make nice short terms profits. The problem is, it has to be repeated over and over to make a living. One bad flip can lead to heartache.
Before investing to build wealth, the key is to know the difference between the philosophies and have an exit plan for any investment BEFORE you buy it.