101. How to invest in Real Estate
If you have made the decision to begin investing in Real Estate, CONGRATULATIONS!! You have taken a significant and brilliant step. The fun's about to begin...You are about to find out that not everything is like the movies but don't be bumped out because what is coming is so excited and we are here to help you in every step of the way.
At this point, you may be wondering how to turn your interests and passion on a new career path for you. INVESTING. Now, you must be prepared, know what is going on around you, and this is one of the most common mistakes that new investors make, not be prepared. You need to have a Plan of Attack. If you are thinking you are going to make your first million within the first year, well, there's nothing bad in dreaming, but you need to keep your money goals in line with reality and always keeping in mind; having goals is important, but unless you know how to convert those into real deals, you will be facing some trouble.
Real Estate can be confused and often misunderstood by people outside the business. Hence, your educations it’s the KEY to your success.
Here's your next step, be surrounded by a good team; you will need a realtor, attorney, mortgage broker, contractor, and accountant. The more people you know, it will be easier for you to find deals, close them and grow your business.
And finally, you need to know how much capital you have access to. It is correct that you don't have to be a millionaire to become an investor, there are ways to close a deal without having money. You need to do research, look how's the market and now when to approach but you need to know your budget and know how much you have if a good deal comes your way.
It is essential not to give up; the first few months can be challenging and overwhelming, but if you stick to the plan and have a good foundation, everything should be as you planned.
And remember, you have the experts who can help you anytime.
By. Karla Villafuerte