Are you a new real estate investor? You might be feeling overwhelmed by the amount of information that exists on the topic of investing.
While there is an unlimited amount you can learn online, from books and through other investors, we’re here to make the topic a little bit simpler, so you can get off on the right foot.
Rules for the New Real Estate Investor: Start Small
You’ll learn so much through trial-and-error, so minimizing your risk is key when you’re a beginning investor. No matter how many tips and tricks you’ve read, I can’t stress this one strongly enough — start small.
This doesn’t necessarily mean you can’t make a big purchase, just take your time and plan out each part of the process in small steps. Do you want to buy your first investment property? Make a 12 or 24-month plan to help you meet these goals and take it from there.
You shouldn’t go into debt on an investment property, especially your first one. Starting small and accomplishing little goals along the way will help you stay on track and prevent you from making any risky moves.
Rules for the New Real Estate Investor #2: Make a Commitment
Now that you have your plan, you need to commit to following through. The reason so many potential investors fail is because they don’t see their plan to fruition. Once you have a plan and smart strategy in place, it can be easy to fall prey to your own doubt.
While you should always double-check the market and your own math, don’t doubt your ability to handle becoming an investor. The best investors got to where they are today by going all-in on their dreams. If you don’t stay committed, you’ll end up staying stuck exactly where you are now.
Rule #3: Stay Focused
Diversifying your portfolio can be a smart investment strategy. However, when you’re getting started, it can be very easy to want to go in a million different investment directions all at once. This can lead you down a dangerous path, where you’re putting all of your money into too many investment opportunities at the same time.
Don’t lose focus on your initial strategy. Is your goal to become a property manager? Focus on that first! Do you want to buy a small investment property and rent it out? Keep your goal in mind! You can always do more down the line, but stay focused on your top priority when starting out.
See you at a meeting soon!
The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can 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 it does 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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