Getting Started in Real Estate

Real estate investing is gaining more popularity for generating financial growth.  Many people are looking to capitalize on its ability to generate passive income and financial growth.  But, for beginners, it can be a bit daunting.  This post is designed to give a few quick starter points to ease your concerns.

1.  Determine what kind of investment you want-
   1. Single Family Residential provides lower entry and larger variety of opportunity
   2. Multi Family Residential can be a great passive income generator
   3. Commercial can be office or retail space
   4. Land- we can’t make more
2. Get educated
   1. Read books
   2. Join groups – Not Gurus
   3. Listen to podcasts
3. Know your finances
   1. Do you have enough for a down payment
   2. Is your credit score good enough
   3. Is your income strong enough for potential strain
4. Decide your strategy
   1. Flipping- Buy add value and sell
   2. Rental – Fix (if necessary) and rent out
   3. Wholsale – get under sales contract and sell contract to another investor
5. Assemble your team- What professionals do you need to have access to in order to accomplish your goals
6. Start small and grow

Conclusion:

Getting involved in real estate is a great way to provide for your future.  Having the right plan and people in place can help any new investor overcome the challenges that have the potential to arise.

Evan Zelkovich

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