People see real estate investors on TV and social media, sharing their story of finding a property, fixing it up, and making a nice paycheck. It seems so easy, until you start really considering it.
Questions that you don’t know the answers to arise quickly and can easily deter you from ever moving forward. Questions like:
- How do I find the house?
- How do I pay for the house?
- How do I pay for the rehab?
- How will I rehab it when I’ve never picked up a hammer?
- What happens if no one wants to buy the property for me?
These are probably the first few questions that naturally come to mind. While they’re “simple” questions, the unknown of them is a huge hurdle on your way to becoming an investor. A big enough hurdle that makes real estate investing a dream to many, instead of a reality.
Simply, the best way to get into real estate investing is to know and watch other real estate investors and learn as much as you possibly can from them. Watch the videos, read the blogs, follow them on social media.
Education is key.
By knowing what worked for other active investors, you can start paving your entry into becoming an actual investor.
There’s a good amount of knowledge on the industry out there for free but local real estate investors might not share their entire blueprint to success because then, you are their competition. We know this isn’t a giving mindset but it’s true.
A mentor or coach who has done a good amount of deals and knows your market and can hold your hand for you is ideal.
Your success is tied to their success as a coach.
Having someone who answer those “quick questions” and walk you through the process of marketing, offering, and securing your first deal can save you SO SO much time, it’s insane.
For those who are still working your 9-to-5 job, wouldn’t you like to be able to quit sooner rather than later? By doing it yourself, it will most likely take you longer, leaving your financial freedom and extra time with your family just beyond arm’s reach.
Besides having a mentor, interact with as many real estate investors as possible. Go to local events and start talking to vendors and other investors.
Absorb as much as you’re able to!
Set goals for yourself in increments. From 5 or 10 years down the road, to 2 year, 1 year, 90-day, monthly, and weekly. Small accomplishments go a long way in staying motivated.
Whatever you do, take action every single day so that you’re continually moving forward in your journey to becoming a successful real estate investor.