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.