With foreclosure inventories continuing to climb in this country, many savvy real estate investors have begun to turn their attention towards this lucrative investment opportunity. But while foreclosures can lead to nice profits, without taking the proper precautions, this seemingly juicy investments can turn out to be a big bust. If you’re new to investing in real estate foreclosure properties and are looking to optimize your investment capital, keep these 6 things in mind:
The goal of any burgeoning investor who wants to join a real estate investment group is to be able to successfully launch a business in this field. One way to fast track your success: join a group of knowledgeable investors dedicated to the practice. But knowing how to join a real estate investing group is a bit trickier than it may seem. Some investors may not need the support of a group, while the “end game” of another group may not suit your investment goals. That is why it’s important for investors to keep the following 4 tips in mind when learning how to join a real estate investing group:
When you run a real estate investing business or any small business, the truth is that you will get exhausted. You will have to juggle your time between taking care of your family, catching up with friends, and running your business. There will be times when life happens, and you probably wonder what to do other than cry.
As a real estate investor, I’ve had my share of challenges. I’m here to tell you the harsh reality that running your own real estate investing business isn’t easier than having a 9 to 5 job. I’m sorry to break it to you but that’s reality. At first, starting your own business meant being your own boss, and deciding how many hours you will be working. So when things get really exhausting and you get tired of it all, what do you do?
As a real estate investor, I’ve had the privilege of working with an amazing mentor and have done some training with experts. This has shifted the way I approached my real estate investing business and has also helped me grow as a person. But to be honest, back then there were times that I did not listen to experts. I did not listen to their wisdom, which is why I experienced some challenges along the way. In this video, I’ll share with you some of my personal experiences wherein I didn’t listen to experts.
There is a ton of information out there on how to successfully invest in real estate, but there isn’t nearly as much about real estate investing mistakes that beginner investors often make and need to avoid. To help new investors navigate the real estate market and make it past their first investment and continue to an even more profitable one, I’ve laid out the top real estate investing mistakes that you need to avoid to be prosperous.
Choosing to renovate your property is a smart decision, but when cash flow is tight, it can be seemingly impossible. Here’s the good news: there are probably more options available to you than you think. When it comes to financing your home renovation project, consider boosting your cash flow through any one of these means:
After being in the real estate investing business for the past 2 years, I’ve had my share of challenges. Just like any other business, the road to success isn’t easy. There are bumps along the way, and sometimes you might feel like giving up. Over the past couple of months, I have been getting questions whether I still do wholesaling, or whether I am a landlord. So I have decided to give you this update. These are the lessons I have learned for the past 2 years as a real estate investor. I hope these lessons will inspire you in your real estate investing journey.
It makes sense, doesn’t it? The more homes you sell in real estate the more money you earn. While this is true in the most ideal of situations, it doesn’t always pan out that way, especially for those who are new to investing in real estate and haven’t gotten a firm hold of the ropes. More deals can make you bigger money, but you have to be smart about your investments if you hope to have a profitable long term career in real estate investing.
When flipping houses, investors have to move fast every step of the way. From researching a property, to renovating it, and then to place it back on the market for sale again. The maximum amount of time that smart real estate investors who flip properties spend is usually no more than 6 months – and that’s being generous. Most properties are found, fixed, and sold within 90 days thanks to savvy flippers knowing exactly how and where to find buyers.
Every day that a renovated and remodeled home spends sitting on the market vacant and without a buyer is money that is being drained from your potential earnings. The mortgage payments, the utilities, and the upkeep will be entirely your responsibility. This is why flippers often start to hunt around for buyers well before their properties have been renovated. In fact, it often begins before the “flipping” has even begun.