Property investment is my passion. I eat, sleep and breathe real estate. Why wouldn’t I? Real estate investment helped me go from eating ramen and bread every night to owning a 7-figure business. One of the most rewarding aspects of my career is teaching others how to invest in real estate and build wealth. This means that I lead talks, give away information-packed free ebooks, offer free one-on-one mentorship calls and write weekly blogs to help you learn everything you want to know about property investment.
Through my years of training others about real estate investment, I have noticed the same questions pop up time and time again. Today, I will be answering some of those questions:
Do I need money to invest in real estate?
NO! This is one of the biggest misconceptions about property investment. When most people hear the word “investment,” they obviously assume that they need money to get started, but that just isn’t the case. From making referrals to property companies to perfectly timing your deal and buyer, there are so many ways to make money with real estate investment with no money down. The best part? You can invest in property with no money and no risk. Learn more here.
What is an exit strategy?
An exit strategy is arguably the most important aspect of any property investment deal. So...what is it? Well, an exit strategy is simply what you will do with a property once you have it. For example, are you buying a house to flip and sell it? Or do you want to do wholesaling? Or maybe you bought an apartment building and plan to rent out each individual unit. Before investing in any property, you must have an exit strategy in place.
How do I pick the right property to invest in?
Real estate is one of the most multifaceted industries out there. There are just so many options for investment. Single-family homes, condominiums, apartments, apartment buildings, commercial buildings- those are just a few of your options. But how do you know which property is right for you?
There are several factors that go into making this decision. To pick the right property, ask yourself these questions. Am I familiar with the property’s industry? (i.e. if you purchase a restaurant, you should have basic knowledge of the restaurant industry) Is this property high or low maintenance? How much time do I want to spend working with this investment property? Will this investment yield a high ROI? How much money do I have to invest? What is my exit strategy?
By answering each of these questions, you can help narrow down your search for the perfect property.
Have more questions about property investment? Send me an email! I may just answer it in a part two article to My Most Commonly Asked Real Estate Questions!
In the meantime, if you’re itching to learn more about real estate, check out my free ebook about how to invest in real estate with NO MONEY down.
Alternatively, if you already dabble in real estate investment and are worried about how COVID-19 is going to impact your finances, watch this talk on how to corona-proof your property investment.
Remember- stay home and stay safe. And while you’re there, learn a thing or two about property investment! You may just be able to come out of this lockdown with the tools to start a new, profitable career.