I was recently asked, “How do I get started in Real Estate Investing?”
I replied, “depends on your “Why“.”
“What does my “why” have to do with it?”…here’s what I tell everyone.
There are 3 reasons why you would even think of real estate investing. You either have time and no money or you don’t have any time but you have money or you have time and money. That will factor how you get into real estate investing. All are completely doable.
You see, most people don’t get into real estate investing because it’s fun. People are usually looking to leverage themselves or build retirement. There are factors to help you get started according to your desired outcome. Here I explain the 4 levels of real estate investing, so you can see the first step to getting started.
Where do you fit in chart here?
• Time and no money = Wholesale
• Some time and Some money = Fix and Flip
• Less time and more money = buy and hold (land lording)
• No time and a lot more money = Money lending
While I can tell you how to start in either of those categories, getting started in real estate is not an easy answer. You see, everyone is unique to their situation and to just follow some guru because you think that is the right way, it may be wrong for you and then you say real estate investing doesn’t work for me.
Take for example:
My young students in California (22 – 25). They wanted in because they wanted to quit their J.O.B. and didn’t have money to buy a house. So, they needed cash and a no money down way to get it. “Wholesale”
My Student in Colorado runs her own business with little time and wanted to build wealth while getting a tax write off. So she has started with “Buy and Hold” with multiple tax write offs do to its location .
I have students across the nation with lazy assets (retirement account or cash in the bank) that become the bank for other students in my inner circle and earn more than their retirement will ever provide = “Money Lending”
So you see, when asked how to get started in real estate investing, I’d have to invite you to a call to see what is the best way for you to start according to your next right best step in your business or personal life.
I love real estate because it brings out the mad scientist in me. I can mix the perfect scenario up for your needs. If you are willing to take an investment risk, take the safest one out there that you can insure and secure (real estate).
I look forward to connecting with you and your questions click here to schedule a free strategy session
Making it happen…