Beginning real estate investing can be both exciting and frightening as you take your first steps forward and break out of your comfort zone. Get a fast start and a solid foundation with the right corporate structure, a professional team and automated systems. Even the newest investors will gain the confidence to close the deal.
Get the best return on your money, invest in your education. Build your knowledge base. Invest in yourself because the most valuable asset your investment business has is You. Get as much training as possible before you start because more training equals fewer mistakes, less risk, and greater success.
Now is the time to adapt your mindset and fully understand that each action you take needs to help generate income and build your investment business.
1. Start Like A Pro. Set your investment business up for success with a plan and the proper legal structure for maximum asset protection. Plus, you'll gain tax advantages.
2. Choose Your Investment Strategy. If you are beginning real estate investing choose strategies based on your experience level and your financial goals. Select which investment strategies are best for you.
3. Build A Team That Invests In Your Success . Leverage other people's skills (OPS). Surround yourself with investor friendly professionals. It's mutually beneficial for these professionals to provide excellent service because for them it's a great way to make money while building their business and yours. Plus, they only get paid when a when a transaction takes place so they are always eager to close your deals.
4. Secure Funding. There are many other funding sources besides traditional bank financing. Typically, investors avoid the Banks and instead use creative structuring and OPM to fund their deals. It's especially important when starting real estate investing to learn how not to use your own money.
5. Automate with Resources & Systems. Use technology, resources and proven systems to effectively and efficiently operate your business. Spend your time buying and selling properties instead of slaving behind the desk with daily office chores.
6. Marketing That Builds Your Business. Branding that will get your investment company noticed and remembered, create instant authority status and
have everyone wanting to do business with you. It's important to get your investment business online and build a reputation. Gain instant credibility with an interactive website, it's your 24 hour sales staff.
7. Connect With Other Investors. Join a few online platforms and build professional relationships. Networking is free. Find communities of seasoned investors, we especially like Linkedin and Facebook. Use social media marketing to sell your deals, promote your properties and connect with other investors. Locate the leader in your market and start to do business like them. It's said, that imitation is the greatest form of flattery.
Knowing people in the industry creates channels that lead to possible business partners, mentors, upcoming events and even private money lenders.
Also develop relationships with civic organizations, Chamber of Commerce, Better Business Bureau, and Habitat for Humanity. It's through these connections that you'll be given the opportunity to give back.
8. Learn some terminology. When beginning real estate investing it's important to understanding the special language of real estate so you can communicate with other investors on a professional level. It will also help you avoid common mistakes with contracts and closings.
9. Have Fun, Be Creative. As you build relationships with clients, they'll give you testimonials and best of all; word of mouth advertising. As a welcome greeting to one of our buyers, we flocked her new yard with flamingos.
She talked about it.
The neighbors talked about it and many new clients called our office talking about the pink flamingos.
Create a sales book to showcase the properties you've sold and proudly present it whenever given the chance, show it off like a proud granny sharing pics of her grand babies. It'll help you build credibility with retail clients and investors. Plus it'll act as a reminder of the enlightening opportunities that you encountered with each property.
With these beginning real estate investing strategies you'll be able to take your first step forward, advance to go and get deals done.