Getting started in real estate investing

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Getting started in real estate investing
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• Real estate investing is a risky business. Its
  not something that you should take on without
  doing your homework and having a plan in place.
  In this guide, well go through how to get
  started with real estate investing by building a
  solid foundation for your new business venture.
  Well discuss what makes up the core of any
  successful real estate investment strategy, as
  well as how to identify your niche within the
  industry so that you can begin building out an
  effective portfolio from day one.
• Understand the differences between rentals,
  rehabs, and flips
• In real estate investing, when you buy properties
  to rent them out to others, this is known as a
  rental.

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• Rentals are great for generating passive income
  because they always pay their bills and keep
  earning money for you while youre away.
• If you want to buy a property and make some quick
  cash by selling it later on at a higher price,
  then this is called a flip. Flips will bring in
  cash fast but can also cost more than rentals due
  to all of the time, energy, and risk involved
  with rehabbing an old house into something new
  again.
• Define your investing approach
• Your investing approach is the way you choose to
  invest your money.

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• It can include how much time and energy youre
  willing to commit, whether its just a few hours
  every week or 20 hours per day.
• There are many ways to invest in real estate,
  from flipping houses with no money down (which
  requires extensive physical labor) to wholesaling
  properties to others who do the heavy lifting for
  you. Each has its pros and cons, so lets go over
  some of them
• Flipping houses This involves buying at auction
  or through private sale then renovating the
  property before selling it again. The investor
  typically makes money via cash flow from tenants
  or profits from the sale itself

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• Wholesaling As its name suggests, this method
  involves selling properties without ever taking
  possession of them instead, buyers pay an
  upfront fee or percentage of the sales price and
  then pass along all work/duties involved in
  executing that deal including finding a buyer at
  auction who has enough cash available right now
  (i.e., not waiting until next month when they get
  paid).
• Figure out your financials
• Determine your current income.
• Figure out what debt you have.
• Calculate your net worth.

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• Figure out how much money you can invest and
  borrow, as well as determine your risk tolerance.
• Choose a real estate investing type
• Once youve decided to invest in real estate,
  your next step is to choose which type of
  investment youd like to pursue.
• Rental properties can be the most passive but
  will also require you to manage a team of tenants
  monthly.

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• Flips are often more hands-on, requiring regular
  work with contractors and other professionalsbut
  also have a much shorter timeline for financing
  completion so that you can recoup your costs
  faster.
• So how do you know whats right for your goals?
  Here are some things to consider
• Get training for investing in real estate
• The first step to getting started in real estate
  investing is to get some training. But what kind
  of training do you need? Where do you find it?
  How can you tell if the trainer is good and worth
  your money?

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• Set up your systems for tracking leads and deals
• You need to set goals for yourself that are
  measurable, achievable, and realistic. This is
  where having a mentor or coach helps. If youre
  not sure what your goals should be, think about
  how much money you want to make in three months,
  six months, one year, and two years.
• Think of tangible fitness goals that can be
  measured by pounds lost or inches gained I will
  lose 10 pounds in 3 months or I will gain 1
  pound per week for 4 weeks are excellent
  examples of measurable goals. These types of
  goals are easy to track and see progress over
  timeso keep track!

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• If you dont have an idea about what this looks
  like yet I highly encourage doing some research
  into different strategies based on your situation
  (there are tons of resources out there). Also,
  try looking at other peoples financial
  plans/goals/values/etc., nothing says were all
  exactly alike which can help when trying to build
  up some confidence in knowing that even though
  someone else may have achieved something similar
  it doesnt mean YOU cant do the same thing
  too!
• Begin building your team of professionals
• You should work with a real estate agent. Not
  only do they help you find properties to buy, but
  they can also guide you as you start learning
  about what kinds of properties are good
  investments and which ones arent.

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• You should work with a lawyer. A lawyer can help
  guide you through the process of purchasing your
  first property, and even help facilitate some of
  the paperwork involved in buying it (though not
  all).
• You should work with a mortgage broker. A
  mortgage broker will be able to put together
  financing for your property purchaseand they may
  have relationships with lenders that allow them
  to get better rates than what might otherwise be
  available online or at other branches where there
  isnt as much competition among lenders for new
  clientele like yourself!
• You should work with an accountant/tax
  professional who specializes in real estate
  investing because there are many intricacies
  related thereto that most accountants dont know
  about unless specifically asked about such
  matters by clients who own multiple properties
  over long periods.

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• You should use the Renozee App to help you obtain
  bids from Home Improvement Contractors, saving
  you thousands on property renovation projects.
  Its easy and free to use.
• Determine your time commitment to finding deals
  and get started building a strategy to reach that
  goal
• Real estate investing requires a great deal of
  time, research, and patience. Its important to
  remember that this is a long-term investment you
  may not be able to see results right away.

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• There are many different strategies you can use
  to find deals, but no matter what strategy you
  choose it will take some time to build your
  business and create a consistent flow of clients.
• Investing in real estate isnt something you do
  spontaneously its something you need to be
  prepared for
• Investing in real estate isnt something you do
  spontaneously its something you need to be
  prepared for! You have to have a team and systems
  in place before starting. You also need a plan of
  action and be prepared for the ups and downs of
  the real estate market.

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• Real estate investing can be a long-term
  commitment, so dont expect overnight success.
• Real estate investors use the Renozee App
• This is a big decision, and we want to be sure
  youre prepared for it. We hope that this article
  has helped give you some insight into what to
  expect when investing in real estate, as well as
  how to get started on the right foot. If youre
  ready to get started on investment property
  improvements, consider using the Renozee App to
  hire Home Improvement Contractors for less!

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