Real estate investing is a goldmine, but finding your way to passive wealth and income is not as clear-cut as we would like. Thankfully Finding the secrets to be successful at real estate investing is not as hard as you may think. Focusing on your goals, and knowing simple tips and tricks that successful investors use to get to the next level. If you want to expand your real estate investing, or to learn how to find better real estate investments in Phoenix, read on.
Build Your Network Before You Need It
Building your network is easy than ever now in the digital age, but people often overlook the power of their network until they need it! So how do you build active connections? The first step is to go to your favorite social media network and type real estate investments in Phoenix’. You can wade through the search results that pop up and join groups that best align with your interests. Maybe you are just starting out and are looking for advice, maybe you have done a few investments and are looking for more advanced tips!
Look for networking events, and go and talk to the people that are there. Don’t look to sell or push something on every person you talk to but give more than you take from every interaction to become a reputable source and constant in the industry. Always build and organize your contacts by name, industry, and relationship so you never forget who someone is.
Follow The Market Trends
Are you receiving weekly and monthly reports of new real estate trends? If not, you could be missing out on huge opportunities for real estate investments in Phoenix! Following investing trends in Phoenix is a must if you want to pounce on opportunities before everyone else. There are thousands of sites that will give you real estate trends, but our favorites are Zillow Or Trulia. You can learn what averages sales or rents are, and how many new people are moving and looking for opportunities in your area.
Specialize Before You Expand
Before becoming a Jack of all trades, pick your real estate specialty and master, and own it. It could be rentals, condos, multi-use, flips, land or commercial! Master your specialty and brand yourself in that specialty, it helps your network remember and even refer clients to you since your name will naturally come up in the conversation for that type of real estate investing. It will make it easy to build your social media following.Once you do expand into other areas of real estate investing, the transition won’t be as difficult as you will have more business coming to you to look for real estate investments in Phoenix.
Use Your Influence
Once you have your social media following and establish connections now what? Using your influence is more than just getting leads but giving back to the community. Participate in group discussions, and answer questions to those curious about the industry. Share your success and help others get started! Maybe even offer a JV partner deal for someone who is just starting out. Help others learn more about real estate investments in Phoenix, and you will find that more and more business will come to you. Make yourself an approachable expert.
Use Other People’s Money
Using other people’s money for your real estate investments in Phoenix assures that you will always have enough cash for the next down payment on the next project. As you grow your real estate business, having quick access to funding is essential, which is why hard money loans are lifesavers for real estate investors! Hard money loans make it easy for real estate investors to close fast on deals and get access to funds immediately. Hard money loans don’t require a credit check, and are base off of property value, making it perfect for fix and flips or renovation loans. Prime Plus Mortgages, make getting loans for your real estate investments in Phoenix easier! Learn more about our loan programs here.