Real estate investing is an excellent career choice. It offers what most people aspire: wealth and flexibility. You can earn a lot of money in real estate while it allows you to choose your own time to do business. It’s not a 9 to 5 job that ties you up at the office. You can even work at home if you want, and still find some quality time with the family. How to get started? Successful real estate investor, Jackie Lange, discusses the 3 step game plan to get started in real estate the right way.
1st Step – Put your Mind into It
The key to being a successful property investor is to put a lot of dedication into your work. Ask yourself this question – “Do I really want to do this?” Having the right state of mind will let you easily overcome obstacles and allow you to persevere no matter what the situation is. While property investing is a lucrative business, it also comes with its share of risks and difficulties. Once you enter real estate, you must be prepared to face financing, management, and acquisition decisions. You must also be prepared to become a landlord and deal with both good and bad tenants. Be ready to be your own boss and perform marketing and management functions.
2nd Step – Take Real Estate Investor Training
Being knowledgeable about the real estate investing playing field is of utmost importance. You need to learn the important details and right strategies for the job. Real estate investor training is a worthwhile investment. There are online training websites available that can give you sufficient training for a year. Here’s how to choose the best online training package.
-Choose a company that provides a vast library of training materials. Students learn best when they’re given various forms of media to learn from. A training company that has a great compilation of books, audios, videos and articles gives you plenty of information to work on, which essentially translates to knowledge gained from different sources.
-Consider a company that offers coaching calls and private coaching forums. Teachers, fellow students, and real estate investors can guide you into the right path. A coaching forum is important so you can see what kind of problems other investors have. You can also interact and ask questions yourself when it comes to deal structuring, choosing the best deal, etc.
-Choose a company whose teachers are, they, successful property investors. The best people to teach you are those who are currently engaged in real estate investing. They know the current trends and strategies. They also have the experience for the job. It’s great to learn from other people’s investing experiences, so you can avoid problems and make the right choices.
3rd Step – Start Investing!
Your real estate investor training will have given you the knowledge and confidence to take your first investment. You may have also gained a network to consult with. You can start with easy investments like single family houses. Practice what you have learned and start investing!