7 Tips For Successful Real Estate Investing
by blogger1
on Tuesday, 12 July 2011
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1. Have A System
Don’t just have a plan, have a system that with enable you to operate efficiently and rapidly grow and scale your real estate investing activities. This way one day you can even begin franchising or sell your business for big bucks.
2. Find A Great Funding Source
Even if you are getting into real estate investing cash rich at some point you are going to want to use leverage to do even more. So find a few great funding sources for your acquisitions including conventional mortgage lenders and banks as well as private lenders and transactional funding sources.
3. Build Relationships & Partnerships
Loyalty goes a long way in real estate investing. Plus the more business you give one company whether it is a transactional lender or Realtor the better deals and more flexibility you will find. You can also bet that having a good relationship with your vendors can also help you pull off even faster closings and flash funding when you really need to get a deal done ASAP.
4. Inspections
You have heard it before, but it really can’t be said enough - always get inspections done no matter how many deals you have done before and how fantastic a condition the property appears to be in. This also applies to walk-throughs. You never know what can happen between the time you sign the contract and you hand over the cash.
5. Don’t Alienate Real Estate Agents
Some real estate investment courses have portrayed real estate agents as the enemy and too costly to deal with. However, in reality they can often find you great deals, save you plenty of time and even help you find the best flash funding sources when you need quick financing to close on your flips.
6. Always Be Networking
Sometimes it is really who you know, not what you know that brings you great deals and helps you get them closed. Your success in real estate investing will directly relate to how many new contacts you can make each day.
7. Keep Building Your Marketing Skills & Knowledge
Today the deals go to those who are great at marketing themselves. So keep on top of the latest trends, embrace social media and mobile marketing and get out there to win the most buyers and sellers.
Don’t just have a plan, have a system that with enable you to operate efficiently and rapidly grow and scale your real estate investing activities. This way one day you can even begin franchising or sell your business for big bucks.
2. Find A Great Funding Source
Even if you are getting into real estate investing cash rich at some point you are going to want to use leverage to do even more. So find a few great funding sources for your acquisitions including conventional mortgage lenders and banks as well as private lenders and transactional funding sources.
3. Build Relationships & Partnerships
Loyalty goes a long way in real estate investing. Plus the more business you give one company whether it is a transactional lender or Realtor the better deals and more flexibility you will find. You can also bet that having a good relationship with your vendors can also help you pull off even faster closings and flash funding when you really need to get a deal done ASAP.
4. Inspections
You have heard it before, but it really can’t be said enough - always get inspections done no matter how many deals you have done before and how fantastic a condition the property appears to be in. This also applies to walk-throughs. You never know what can happen between the time you sign the contract and you hand over the cash.
5. Don’t Alienate Real Estate Agents
Some real estate investment courses have portrayed real estate agents as the enemy and too costly to deal with. However, in reality they can often find you great deals, save you plenty of time and even help you find the best flash funding sources when you need quick financing to close on your flips.
6. Always Be Networking
Sometimes it is really who you know, not what you know that brings you great deals and helps you get them closed. Your success in real estate investing will directly relate to how many new contacts you can make each day.
7. Keep Building Your Marketing Skills & Knowledge
Today the deals go to those who are great at marketing themselves. So keep on top of the latest trends, embrace social media and mobile marketing and get out there to win the most buyers and sellers.
