Getting Into Real Estate Investing
Many investors want to get into real estate investing as a way to expand their portfolios, but have no clue on where to start or who to talk to. It’s normal for this to be the case as real estate investing is substantially different from investing in the stock market. For many new investors, the real estate market can seem an insurmountable mountain.
However, real estate investing does not have to be scary. Here are simple tips to enable you get started in real estate investments.
Have a plan
Going into real estate investing requires a plan, just like you would if starting a business. Set realistic goals and, just like a business plan, document the fine details of your investment plan (desirable return, mode of financing).
Widen your search
Rather than limit your search for property to you neighborhood, broaden your horizons and look in areas that may be located further away. New investors often think that they have to be within earshot in order to attend to tenants needs. However, if you repair the property really well, you shouldn’t have to worry about being close to the investment.
Find other investors
If there’s a group of real estate investors in your region, they should be your next set of friends. You can pick up a lot of helpful information on the local real estate scene and tips that work from them.
Pascal Nicolai is a real estate developer and owner of Capital International Financial Fund, LLC, which is doing tremendous real estate development in Miami, FL. He’s been investing in real estate since 1995.