At meetings, we are asked for tips on real estate investing for beginners. While the real estate market is constantly fluctuating, but several of the basics stay the same– as do the rules. To jump-start your career in real estate investment, there are a few key rules to follow.
Sometimes real estate investing for beginners can seem a bit intimidating and it’s easy to get lost in the sights and sounds of all the blogs, books, and television gurus.
1. Real estate investing for beginners: Treat it like your new business.
Real estate is not something to do on a whim. Investing in real estate is a lifelong pursuit that can help you take control of your financial future. It isn’t a get-rich-quick scheme. As an investor, you will struggle. You will make mistakes. You will fail. The successful investors are the ones who can take those experiences and turn them into lessons to improve their skills.
If you’re hoping to make it as a real estate investor, whether you like or not, it’s going to be a business. Even purchasing just one property will consume part of your life, so you have to take it seriously and plan for the future.
2. Real estate investing for beginners: You have to do your first deal.
There are several ways to buy your first real estate investment. If you are purchasing a property, you can use your debt by taking a mortgage out against the property. The use of leverage is what attracts many real estate investors, since it allows them to acquire properties they otherwise could not afford. However, using leverage to purchase real estate can be dangerous in a falling market, since the interest expense and regular payments can drive investors into bankruptcy if they aren’t careful.
Perhaps the biggest difference between a rental property and other investment deals is the amount of time and work you have to devote to maintaining your investment.
When you buy a stock, it simply rests in your brokerage account and, hopefully, increases in value. If you invest in a rental property, there are many responsibilities that come along with being a landlord.
Real estate investing for beginners: Your network is your biggest asset.
As a beginning investor, it’s important to connect with other local investors. This doesn’t mean you should spam them with requests, but simply reach out. Attend local events to get to know them better.
Those interested in SWFL real estate investing, can attend events and listen to helpful talks on important topics such as rehabbing distressed properties, how natural disasters can affect investing, and maximizing your investment.
Sign up for our mailing list and be the first to hear about our Cape Coral and other SWFL real estate investing events.
To become a member, just register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.
We meet twice a month.
One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
We look forward to meeting you at a meeting soon!
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