What Do You Actually Need to Become a Real Estate Investor?
May 21, 2020
The #1 misconception about Real Estate Investing is so pervasive, so universal, so falsely obvious that every presentation I give ultimately involves deconstructing this idea, in one manner or another.
The secret is out — Real estate investing is really something anyone can do.
All it takes is someone who is willing to try something new and learn something new, to take a leap without having everything charted out before leaving the ground. When I first started learning about it 6 years ago, I couldn't believe how realistic it was for someone like me to get into this business with no prior knowledge.
The key is getting the right information and getting started as soon as possible, and there has never been a better time to invest in real estate then now. Problems are opportunities, and opportunities are money; thus, there's a lot of money out there for anyone brave enough to hunt it down and get it under contract.
This is the simple reality behind a startling fact — there have been more millionaires made through real estate then through any other investment or business in the world.
Real estate is, in total honesty, surprisingly simple, and can be a fun and rewarding career with little risk and huge returns — when done the right way.
It all starts with learning the basics of what homes are worth and then finding ways to add value to undervalued properties or finding properties that represent good investment opportunities (this was actually the easiest step to learn!)
Personally, my favorite part of expanding my knowledge into real estate was finding that it revolved about helping people solve their problems and creating win win situations, which gives you a rare sense of moral fulfillment and financial accomplishment.
There are roughly eight different strategies in real estate investing, and they all tend to be a gateway to one another. Some people start by just wholesaling or finding good deals, others start by flipping houses, and others start right off by building rental portfolios. There are even opportunities in utilizing IRA and 401ks in safer strategies than the stock market, while consistently earning double-digit returns — all tax free!
Ultimately, this is why we founded the DREIN and the HREIN; it all comes down to learning the business and getting started, and there's no better way to get into the industry than with a strong network around you.
90% of real estate investing is leveraging other peoples money and creating opportunities for everyone to make a profit. Having an eye for numbers, design or value can all be advantageous, but our blockbuster insight has been surrounding ourselves with the right people from the beginning, starting with one relationship at a time.