“Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.” – Robert Kiyosaki
There are many ways to make money – and investing in a real estate is one of those. If you are into investing, you know it is important to diversify to get a desirable result. And as a homebuyer, purchasing a property is about more than just finding a place to call home. Real estate is also an investment that has become increasingly popular over the past years and has become a common investment vehicle.
The moment you decide to invest in real estate property, there are certain things to consider. Of course, knowing such will prevent you from committing costly mistakes. And to give you some ideas, we list down some simple ways on how you can invest in real estate without any complications.
Being with the end in mind
Real estate is not a piece of cake where you can be complacent with the transactions. You have to remember that purchasing a property is an investment you can make for your future. That means you should not take it lightly. The moment you decide to invest in real estate, determine what you want to achieve with real estate investing. Is it financial freedom? How do you define your financial freedom? What is it regarding money? Is it about time freedom? Or is it about all of the above? Knowing such will help you decide whether or not real estate investment is for you.
Learn as much as you can about real estate
Just because you hired a real estate agent, that does not mean you are not going to do some research about it. If you do not want to have any headaches, later on, you need to familiarize yourself with the “ins and outs” of these transactions. Aside from asking questions from your realtor, you can attend real estate auction as an observer and learn as much as you can, before you buy any property. Moreover, do not be hesitant when asking questions. In this way, you can gain more knowledge and idea on how real estate works.
Attend a seminar/review for aspiring licensed real estate brokers
There is nothing wrong if you are going to attend a seminar or review for aspiring licensed real estate brokers. Of course, it would not hurt you if you did take the exam and passed.
Find your niche
Whether you realize or not, each investor has a different niche when it comes to their respective field. Of course, you need to become an “expert” in one area, preferably an area that is near where you live, where you work, or any place that is near you. Moreover, you cannot just say you want to invest in Metro Manila. You have to find something smaller place for you to know every single detail of that certain place.
Pay yourself first
When it comes to real estate investment, money will always be involved. That means you have to know what and what not to do when it comes to money matters. Going into real estate investing will not solve the problem of mismanagement of personal finances. If you want to succeed without worrying about money, then you have to solve your financial issues before you start investing in real estate.
Let people know you are now a real estate investor
There is nothing wrong with letting people know that you are now a real estate investor. Perhaps, you can send some private message via SMS or social media. This is to make sure that they will know and can help them whenever they want to invest in the real estate too. However, just be mindful of your message and try not to spam their inbox.
Join or start you own real estate investors club
Just like attending seminars, joining or starting your real estate investors club gives you a lot of advantages. Of course, this is the time where you can meet some people with the same interest as you do within your niche. This is a good opportunity to share some ideas and knowledge on how one can successfully achieve a desirable result in the real estate investments.
Invest in a basic rental property
This is one of the most common ways most real estate investors practiced. A person will buy a property and rent it out to a tenant. The owner or the landlord is the one who is responsible for paying the mortgage, taxes, and costs of maintaining the property. Moreover, they will be the one who charges enough rent to cover all of the costs above.
Knowing the risks of real estate investing
Whether you like it or not, there will always be risks when it comes the investments. That means you have to make sure that you know what the dos are and don’ts to make sure you can prevent committing any costly mistakes in the long run. Moreover, when you know what it takes to reach your goal, then you can carefully plan ahead before you decide on a particular thing.
Investing in a real estate is not that hard as you think it is. You just have to make sure that you know how the real estate industry works for you to prevent any headaches later on.
Mark Justine De Mesa is a Filipino blogger,business enthusiast and freelance writer.He give tips about Real estate.He currently blogging Avida Residences Dasmarinas Sabina,the one of the top real estate company in the Philippines.