If you are interested in investing in Real Estate, here are a few tips to get you started:
- It’s best to use your own money, because you’ll get a much better return, AND have more control.
- You should keep at least 20-40% of the amount of money being invested in savings. i.e. For every $100,000 you are investing, you should have an additional $20,000 to $40,000 in savings.
- You can invest with other people’s money. It just means they will take a portion of the profit. This does allow you to leverage your cash, but never leverage it all. Still make sure you have 20-40% of the amount invested, in savings.
- No Money Down is a Hoax – You must have some sort of cash, equity, or assets in order to use the bank’s money, or other people’s money. Without capitol, and good credit, you will be eaten alive.
- You can join with others to invest together. If you have less then $100,000, you should consider this. Many investors are looking for good solid people to invest with. Real Estate investing is much more secure than most options today, and you receive a much greater return than traditional avenues.
- Always deal in facts, never in maybe’s or might be’s. Someone once told me the following; “I don’t care what you think, I only care what you know”. Live by this.
- You must have a plan, and stick to it. If your plan constantly changes, you will constantly be losing money. You do need to be flexible, but only when it makes financial sense, and it is a change that you “know” will help, not a change that you “think” will help. Also, change is often a sign you are in over your head.
- The 24 Hour Rule – Whenever possible, take 24 hours before making any major decision or change. This will stop you from making rash decisions, or letting your emotions get the best of you.
- The list of advice and tips can go on and on forever. If you decide to invest in Real Estate, it is best to have someone knowledgeable on your team to advise you as you proceed through the process.
If you are serious about Buying & Selling Real Estate for a profit, and want to maximize your return, please answer the following questions, and I will reach out to you. I will always tell you the truth, even if it may not be what you want to hear. Thank you for taking the time to read this page, and fill out the questions below.