Trying to invest in real estate is not always an easy task.
In fact, it can be quite daunting. There are so many things to learn, all the
little ins and outs. Secrets, that it seems only the real estate tycoons know.
It can seem almost impossible to break in at times. But, thankfully it’s not.
With hard work, determination, and motivation, you too can break into the world
of real estate. Even the biggest obstacle of capital can be overcome. How, may
you ask? In this article we will be sharing with you 6 different ways to help
break you into the real estate world. Whether you are trying to find ways to
help you build capital more quickly, or even invest without capital.
These 6 methods can help.
These 6 methods can help.
Method #1: Working Your Current Job or Something Like It
One great method to help you build capital more quickly is
by working the current job you have more diligently. I.e. take extra shifts or
work longer hours. Or, take a side job or gig in something you’re already good
at, to help bring in extra capital. This can be anything from an Uber driver,
to a bartender, to freelance writing, etc. There doesn’t even have to be any
real link from this type of job to what you’re doing now. Find something that
will help push your capital influx in the right direction.
Wholesaling is good for those with outgoing personalities,
because you’ll be dealing with people a
lot. Now, this doesn’t mean that if you’re more introverted you can’t
wholesale; you just may not enjoy it as much. One benefit to wholesaling though
is that it helps springboard you into the real estate world. You can make money
while learning the in’s and outs of the industry. Just don’t make the mistake
of thinking that wholesaling is the same as investing, because it most
assuredly is not.
Method #3: Working As A Referral Agent
While this job has no real link to wholesaling, it is
similar in that it’s a more people focused job. However, unlike a normal real
estate agent who deals primarily with homebuyers. Referral agents work with
investors. There are a lot of pros to this gig, one being you rarely have to
show a property. Another is because you deal primarily with investors; you
won’t have to deal with the “emotional buyer”. That is because most investors
see the home as a dollar sign, and not much else. Both of these are great
benefit, plus, like with wholesaling, you get firsthand experience in the real
estate industry.
Method #4: Partnering
Partnering is an option to try when you want to invest
without capital. While this can prove to be more difficult, it can always be
very rewarding, and speed of your process into the industry. However, make sure
you keep these few things in mind when going this route. One, always know your
partner and make sure you develop a strong relationship first. Two, keep the
partnership bulletproof for legality to protect yourself in the instance that
something were to go down. Three, make sure you have something valid to bring
to the table. An investor won’t be interested if you don’t have a solid plan.
So, you need to really sell yourself and what you can do for them as a partner.
Four, always discuss an exit strategy.
Method #5: Using Loans
This method is both straightforward and complicated. It’s
straightforward in the sense that it’s self-explanatory. But, obtaining a loan
can be difficult, require a lot of paperwork, and if you go the mortgage route,
a sometimes hefty down payment. There are a lot of options though when it comes
to this method, and it would be wise to research loan options carefully.
Method #6: Gaining Education
This is perhaps one of the most important. Because it
doesn’t matter how much money you have, if you don’t know what or how to use
it, it’s pretty much pointless. So educate yourself on the industry. Read
books, go to seminars, and talk to people who either work in real estate or
have made money in investing. You can never have too much knowledge or over
educate yourself.
Investing in real estate doesn’t have to be an impossible
goal. It just takes some time, patience, perseverance, and the willingness to
work hard and be on the lookout for every new opportunity and then seize it.
