How to start in Real Estate Investing?

Your guide in the world of REI!
Did you know that most millionaires invest in real estate? Do you want to know why? Let me breakdown the pieces:

What is Real Estate?

– refers to the ownership of Residential,  Commercial,  Industrial Properties and Land.

 

Types of residential properties:

– Singe family,  Condos,  Townhouse,  Manufactured homes  and  2-4 units.

Types of Commercial Properties:

– Office space, multi-family rentals, mixed use and retail stores.

Types of Industrial Properties:

– warehouses, factories, storage and training facilities.

Types of Land:

– Residential, Commercial and Agricultural.

 

Now that we know what Real Estate is and the various types of Real Estate. Let us now explore how to invest in Real Estate.

 

Difference between Primary Residence and Investment Property is:

Primary Residence = Owner Occupied

Investment Property = Non-Owner Occupied

 

What is Real Estate Investing?

– is the act of buying and selling real estate properties through Fix & Flip, Buy & Hold, BRRRR and Wholesaling.

Types of REI:

Fix & Flip – strategy of purchasing a property, renovating it, then selling it for a profit.

Buy & Hold – is a long term investment strategy where an investor purchases a property  and holds on to it for an extended period of time.

BRRRR – stands for buy, rehab, rent, refinance, repeat.

Wholesaling – contracts a home with a seller, then finds an interested party to buy it. The wholesaler contracts the home with a buyer at a higher price than with the seller and keeps the difference as profit.

Since we already know how Real Estate investing works, let us now go to the resources that we need to succeed in this business.

 

First, you will need a consultant someone who have been in the Real Estate business for many years. Why do you need them? Simply because they will share their knowledge and expertise as well as challenges so that you can avoid the pitfall!

Recommendation: Find the best consultant

Solution: No Limit Investments, Inc.

Second, you need capital to start investing . How much capital do you have saved? You need to be prepared with down payment and closing cost. Typically, you need to have 10-20% available to close. If you are short of funds, you can consider a joint venture partner.

Recommendation: Find the best Capital Partner

Solution: No Limit Financial Services

Third, you need access to deals. These are distressed properties that need renovation. You may want to start looking for motivated sellers. Here are some options: Foreclosure or Pre-foreclosure, Probate, Abandoned & Vacant homes, REO/Bank Owned properties, Divorce and Bankruptcy to name a few.

Recommendation: Find the best Consultant

Solution: No Limit Investments, Inc.

Fourth, you need a Developer. You need an expert in terms of rehabbing the properties and make it as good as new. Additionally, will help you improve the value of the property.

Recommendation: Find the best Developer

Solution: No Limit Construction & Development

Lastly, you will really need a Virtual Assistant when you are ready to expand the business. You want to delegate the tasks to free up your time giving you the opportunity to fulfill your dreams. Here are the things we can do for you:

Manage calls, text, emails, admin tasks, social media management, website creation, lead and database management.

Recommendation: Find the best Virtual Assistant.

Solution: Gerome Padilla, Founder of Exceptional VA. Executive Assistant of Patrice Waller.

 

Are you ready to become a Real Estate Investor?

 

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