Getting started in real estate investing is easier than you think. Follow these steps to have a successful career in real estate investing.
Set Clear Goals
What kind of Investing do you want to do, Rental, commercial, residential, or flips? Each market has its own set of hurdles, and while it is possible to diversify, it’s important to understand each of the markets individually. Understanding the markets, and how involved you want to be will only make it easier for you to succeed in real estate investing.
Know the Ins & Outs Of Your Market
After you find some real estate property you love, look deeper! Are their home owner association rules? Are you legally allowed to rent in this area? What are rental prices, or how did the last house sell? How close are you to schools and highways. These important questions will all determine value for your property and if it would be a better flip or a rental!
Find A Good Partner
The Best Real estate partners are the opposite of you! Maybe you know the market but need help with the repairs, or need someone to manage the property for you. Make sure your partner and you have similar goals and ideas for the properties and investments, and always sign a agreement on who is responsible for what.
Traditional banks may see real estate funding as risky business, most Investors find it easier to work with Hard Money Lenders rather than traditional loan companies. Luckily Prime Plus Mortgages Offers a variety of Hard Money Loans, from fix and flip loans, bridge loans, short sale loans and will help you find the right loan for you.
To Learn More about how our loans can help you with your real estate investing journey, click here.