Real Estate & Property Management
Owning real estate is one of the most reliable paths to becoming financially stable. The first thought most people have when hearing facts like this is “how can I start?” However, once some research is done the task starts to become daunting. This article is designed to make real estate something easy to understand so people won’t be as hesitant to make good investments for their future which includes real estate & property management.
Don’t let the image of a real estate & property management mogul confuse what’s actually required to be a successful investor. Once you start learning the basics you will begin to realize how simple the process actually is. We are here to help guide you through every step of the process while at the same time preventing you from falling into common traps the beginners often step into. This is the beginning of great real estate & property management.
Real Estate & Property Management
With all the possible places to invest your money, why are so many people excited about real estate & property management? After all, it seems like investing in stocks, bonds, or your 401k are much simpler options that will still yield you a positive return on investment.
One of the best aspects of investing in real estate & property management is the ability to have consistent cash flow coming through the door every month. Real estate & property management also allows you to benefit from the increasing value of the home as well as having significant leverage financially and benefiting from tax breaks. This is why real estate & property management is so important.
Don’t be fooled, many people don’t invest in real estate because it’s not as easy as investing in their favorite stock and not looking at it again for 10 years. Investing in real estate is a commitment and it will take time to master the craft. Only start this journey if you and your family understand the industry you’re getting into, especially real estate & property management.
Now let’s talk about exactly what’s involved in real estate & property management.
Is investing in real estate a full-time job?
No. The most common form of real estate & property management we see on TV and Social Media looks like the millionaire mogul that is 100% productive in the real estate & property management industry all day every day. This is possible, but it does not represent the majority of real estate investors, by a long shot.
Beginners often get sucked into the illusion of the get rich quick model of investing and turn the industry into a casino rather than a sound investment. This is because they don’t understand real estate & property management. There are tons of different ways to profit in the real estate market, some strategies are extremely high risk for an equally high reward. However, strategies like this are often sustainable if they ever even succeed at all. Your investing strategy will reflect your personality, if you go into it hot, you might get burned. That’s why it’s important to get great real estate & property management
Going full-time into real estate is an option, but if it’s not your passion it’s best to avoid it. You can always hire real estate & property management. You can still make a lot of money just by spending a few hours a week/month maintaining your portfolio.
Becoming a full-time real estate investor is not necessarily the best way to invest in property. Tons of people in real estate & property management will tell you the same thing there are plenty of investors who only dabble in the market and make better returns than full-time investors. Having a full-time job, or some kind of income makes investing in real estate 10x easier, and safer. Not to mention the financing that becomes available when working full-time as many people in real estate & property management deal with.
There are plenty of options available to start investing in real estate & property management even when you’re occupied during your 9-5. For example, simply buying a property and handing it off to a property management company. They will take part of the burden off your hands when getting into real estate & property management. That’s what we provide at Home365. But instead of a partial burden off your hands, we take 100% of the burden off your hands! That’s what great real estate & property management can do.
In a sense, Home365 is the ideal management company because of our guaranteed income commitment. Our business is specifically designed with an “invest and rest” model that allows our property owners to expand their portfolio without having to worry about management in the real estate & property management industry.
No matter what you decide the important thing to keep in mind is that this is not a get-rich quick investment option. Real estate should be taken seriously and that does not mean quit your day job and go 100% into the industry. Take your time, research, learn and create a plan before starting.
At the end of the day, you know whether or not you want to take your life to the next level in real estate & property management. And part of you knows that real estate is the right choice. We’re like you, we know you’re going to take some risk at some point. Just let us help you along the way.
How to get started
The best way to tell you how to get started includes telling exactly how NOT to get started in real estate & property management. Don’t just attach yourself to a guru and depend on them for all your real estate knowledge. You also don’t need to start spending a bunch of money on classes. A massive amount of investors have found success without the help of a guru.
One of the major problems of looking for one person to solve your problems is that they are usually pedaling extreme luxury and overwhelming decadence. This is a way to trigger you mind to buy their products. It preys on people who are desperate for money and exploit their feelings for their own personal gain. There may be valuable information in these courses, but a lot of learning happens from doing and not from being guided by someone who’s looking to profit themselves in the real estate & property management market.
If you really want to know how the sausage is made in the real estate & property management industry, the information is out there. There are some very common tricks to play on the mind to stimulate it and suggest that riches are on the other side of some master program. They themselves have referral relationships with people in the investment space. Some of their fees are up to 50%.
Instead of getting involved in these schemes, start by getting your hands dirty yourself and doing your own research on real estate & property management. Talk to people you know in the industry, talk to people who own property, figure out a plan that works for you. Don’t buy the dream, make it.
Just because there are a lot of bad guys out there doesn’t mean it’s not worth checking them out on some level. There may be some things you can learn. But the real goal is to find a true mentor in real estate & property management. One that isn’t looking to get paid, but instead is willing to share their knowledge of the real estate & property management industry with someone just getting started.
Investing with no money
No tricks here, there is no such thing as investing with zero money involved. What we’re really talking about is investing with other people’s money into real estate & property management. Doing this is not going to be easy. It will take focus and determination. But if you develop the skills necessary to invest with other people’s money, you will have some amazing tools in your toolbelt for life.
Just like with any other transaction, if you can’t bring money then bring something else of value. There are a whole host of things that people in the real estate industry find valuable, hard work is one of them. There’s a whole industry of people who are investing with OPM, get involved, get connected, and see what people in that space need the most.
One of several methods that include:
- Using partners
- Using lease option strategies
- Via FHA 3.5% down payment loans
- Using USDA or VA no-down-payment loans
- With home equity loans or lines of credit
- Using private/hard money.
Investing with no income
One of the best ways to start making money in real estate is to start working in the industry! There are plenty of job opportunities in the industry that will hire people with little to no experience. Real estate is not rocket science, but it does take someone who is committed and wants to be successful.
Working in the industry will grant you all the things you need to buy your own real estate. You’ll gain connections, experience, and income. All these things used together become a powerful force used to generate wealth for yourself. There is truth to the idea that fully immersing yourself in something is the best way to learn about it quickly.
If you’re getting into the industry with no income, don’t expect to become rich over night. Don’t get a job in the industry just to make a paycheck, that will be a waste of everybody’s time. It’s going to take time to develop traction, so if you’re getting started, get ready for the long haul.
Don’t even focus on the fast cars and the huge luxury homes. Learning any craft requires respect for the skills it requires. The true masters of the industry don’t care as much about the money as much as they care about being the best at what they do.
You will see people shoot to the top quickly, but don’t be fooled, this is extremely rare. You will hear stories upon stories about extreme wealth overnight. And you may even see it with your own eyes. Don’t let this distract you, stay focused on investing with solid fundamentals and without taking on too much risk.
At the end of the day, you will find what works best for you. We are here to help as much as we can. Like we discussed above, Home365 is designed to help investors who need to manage their time as efficiently as possible. Not having to manage each and every one of your investments frees up an incredible amount of time, the time you need to be spending sharpening your skills.