Real Estate Investing is a broad phrase that covers everything from short sales, to tax liens to wholesaling to rehab flips as well as commercial real estate. If you are a beginner, where do you start?
As a beginner, there are 3 Main things to consider when you are starting to invest.
1. Invest From a Position of Strength. With cash you can negotiate better deals that provide more profit. If you don’t have your own cash, then seeking private lenders to bring on your team will make your investment much stronger.
2. Have Goals; Invest in Properties That Provide Multiple Exit Strategies. With multiple exit strategies available, you have less of a chance of getting stuck with a home you can’t move. Always plan for the long term. Have an end goal in mind to help stregthen your investment strategy plan.
3. Know Your Market! Conduct your market research before investing in real estate to know if your market is a good market to invest in.
- Who are the major employers in the area and are they stable?
- What is the population growth trend?
- What are the expected limitations?
- What are the local rents and how are they trending?
- What are the average and median home prices in the area?
- What economic anchors does the area have?
These are three principles you can follow to ensure that if you are starting out investing this autumn you will have a stronger sense of what you are getting into and how to effectively navigate this career. If you need any other tips for starting your investment strategy contact us anytime at http://www.reiaofoakland.com.
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