In this episode of Abundant Behavior, I sat down with my good friend Gary Chaney Jr. also known as @Bidnessman.G to discuss the ins and outs of real estate. Real estate can seem like an overwhelming process, but Gary broke it down to where ANYONE can understand it. We discussed market trends, the best seasons to buy, how to find a good realtor, and so much more. Gary is a navy veteran who transitioned into real estate full time, and has had much success in the industry. We not only discussed real estate, he also gave his insight on losing friends along the journey, and how people should never get caught up on material things.
Real estate refers to property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water. It encompasses a variety of categories, including:
1. **Residential Real Estate**: Properties intended for living purposes, such as houses, apartments, and condominiums.
2. **Commercial Real Estate**: Properties used for business activities, including office buildings, retail spaces, warehouses, and hotels.
3. **Industrial Real Estate**: Properties used for manufacturing, production, distribution, and storage of goods, such as factories and industrial parks.
4. **Land**: Includes vacant land, farms, ranches, and undeveloped property.
Real estate can be owned by individuals, companies, or governments, and it can be bought, sold, rented, or leased. The value of real estate is influenced by factors such as location, market demand, economic conditions, and the condition of the property itself. Investing in real estate can provide income through rent and potential appreciation in property value over time.