Real Estate Tips to Get You Started With Your Investing
Keep these in real estate tips in mind as you start on the path to a real estate business (yes, even one property is a real estate business)
Before deciding on any real estate investment strategies, make sure to thoroughly understand what is required by each strategy (money, sweat equity, taking title etc). Next, be sure to understand the numbers (if the numbers don’t work, don’t force it and move on to another property). Do an investment property analysis before investing in a rental property or commercial property. Using analytics can help you find the best investment properties and neighbourhoods. There is a reason we put the ‘The MORE Confident Real Estate Investor Training‘ together. The program teaches you the different strategies, how to run the numbers etc so you don’t have to worry about making costly mistakes.
2) Network and Join Real Estate Investment Clubs
Education is key. Networking is key. Join real estate meetups to learn about investment strategies and to find partners to work with. Having different team members or contacts with different specialities is very beneficial. Besides getting investment tips, you can call on them when in need of a help. Both Rachel Oliver and Monika Jaczyk host monthly meetups if you are looking for a place to get started. Rachel hosts the Real Estate Wealth Forum (REWF) and Monika hosts Real Property Investments Networking Group.
3) Location, Not Convenience
It can’t be said enough – location is key in real estate. Try to explore areas that will give the highest returns and avoid staying in your area just for the sake of convenience. When you have a location, you can focus on a niche market and better appeal to tenants. For example, if you decide to invest in a college town, you can focus on providing housing suitable for students or if you are interested in rent to owns, be sure that any area you are going to purchase in is going through a growth spurt where retail is growing, houses are being built or a new transportation mode is being built.
Real estate investing offers a lot more opportunities than most investments. Once you’ve done enough research about different real estate investment strategies, you can have a better idea of what you want and become the investor you want to be. Keep these real estate tips in your back pocket, you never know when you might meet someone who could use this very same advice.