Real Estate Blog
Qualities of a Successful Investor
When people think of the qualities of a successful investor, there is a very specific mental image that comes to mind. We can blame pop culture or even the stereotype’s predominance in the real world, but the list of qualities that people think of consist of:
- Already wealthy before becoming an investor
- At least 60 years of age
- Male
As an investor myself, I have gone ahead and looked at the people that I meet on a daily basis and there is some basis to the stereotype. When it comes to a successful investor, the ones that I meet regularly tend to possess most or all of the qualities listed above.
Real estate investment: Knowing when you’re ready to invest
Real estate investment is not that simple. Even if you are doing well at investing and making things work for yourself, you need to give things a background check to make sure that your property is making you rich. There are many things that people ignore when it comes to investing. These things are cost, taxes or upkeep. This makes things intricate and that’s the reason why everyone is not successful as a real estate investor. But if you fulfill the below listed requirements, you can start investing in real estate right away.
What is Money Management?
Money management is a skill and those who acquire it over the time stand out of the crowd for a good part of their life. It is something that not everybody is aware and knowing how to manage your finances can help you achieve more. Since the financial system these days is fairly-complicated, it is important for you to know how to go about it. With bills, invoices, tax returns and many other financial matters to deal with, financial literacy play a crucial role. Right decisions are to be made from time to time and you need to be able to make them when time comes. I know from experience that starting out can be daunting. You must keep track of making major purchases and investments and at the same time keep everything in check.
Can I Invest in Real Estate Even if I Have No Money?
The easy way to put this is: yes, you can invest in real estate even if you don’t have any money on you. I am not saying that glory in the real estate world can be achieved without a single penny. All I’m saying is that even if all real estate deals involve money, it doesn’t have to be yours in the first place. Money is involved in every deal that takes place in this industry. You need to figure out a way around it. So, the deal you need to crack here is that you have to invest in without using your own money. In order to do this successfully, you need to learn the Other People’s Money (OPM) tactic. As its name suggests, you need to learn how you can strategically invest other people’s money into real estate deals and get maximum benefits. This tool is the most complex as compared to other real estate tools but its mastery will guarantee you a spot in the “million dollar club”.
Even if you don’t have money, you still have to bring something to the table. You can either use other people’s money or just bring a trade-off. This can be anything from education, experience, time to contacts in the market, due diligence or intelligence. If you look around in the real estate market, most of the investors don’t use their own money. For examples, Robert Kiyosaki once said that it is a foolish practice to use your money in the real estate market. According to him, you can always ask the bank for more money.
Marijuana and Real Estate
With the rapid increase in states legalizing marijuana, things have become too loud to be ignored. Growing marijuana in homes has been practiced for quite sometime now. 23 states in America allow medical use of marijuana, whereas, 11 states permit limited possession and recreational use. Now that the name marijuana has started appearing in the legal list, here are some things you should know as a real estate agent to linkup marijuana and real estate.
Real Estate Crowd-funding
Crowd-funding—is not something unheard of. It is a place where new startups or entrepreneurs turn to in order to source capital. Crowd-funding can be labeled as a platform where general public can buy off their share of the pie by investing money at their own discretion. The funding can vary in magnitude, but it has been declared legal by the government of United States of America. In the past crown-funding campaigns were only limited to startups and other fancy projects that caught the masses’ eyes. But things have changed. Now, crowd-funding has also tapped the real estate market and many people are buying real estate by concentrating their funds into a pool and owing rights to a share in the profit. Real estate investment crowd-funding is also called peer-to-peer crowd-funding. This helps the investors to bypass the banks altogether. This is also a good platform for people who are trying out as investors in the real estate market. These funding can prove to be a practice ground for them, as there is less money involved.
Top Marketing Techniques to Get Your Real Estate Noticed
If you’re reading this article, chances are you already have an online presence for your real estate business. But is your online presence optimized for maximum results? Are your properties being noticed by the right clients? In today’s competitive market, you need to ensure your marketing tactics effectively match the clients’ needs for you to stand out from the crowd. How do you make sure your property listing isn’t drowned out by the noise in the market? In real estate, it is not an easy task to market your listings in a way that they will be noticed by your target clients. While it is not an easy task, there are effective techniques that you can use to make your listing stand out.
Answers to the Most Common Wholesaling Questions
Many wholesaling questions are easy to answer but are still asked to this day. This is understandable. As with anything in life, the hardest part about wholesaling is knowing where to start. It’s a big stumbling block that led to many frustrations and hopelessness. It is not a completely alien concept, and most of us have went through the pressure of trying to get started and not knowing who to depend on.
How to deal with a real estate burnout
“Money never sleeps”. This is applied to every business that has huge potential of making money. Real estate happens to be one on them. The quoted sentence if put in terms of real estate gives us another perspective of how can things be down here. As a real estate agent you constantly need to stay available for you clients. This tough work routine can result in loss of ambition or what is often termed as a burnout.
Symptoms of Real Estate Burnout:
Common Unreasonable Landlord Behaviors You Should Avoid.
The returns you receive as a landlord are greatly dependent on your property management. In some investments such as shares and bonds, you can get returns without getting much involved as an investor. However, rental property investment is not 100% passive. Before you get your rental income as the landlord, you to do some work and use some skill. Without proper knowledge, you can jump into rental property investment thinking it is a walk in the park only to make costly mistakes that may ruin your investment. You don’t your investment to get into ruins because of some avoidable mistakes. Rental property management is one of the aspects that determine the success of your investment as a landlord.