Tips For New Investors!!!
As a new investor here are a couple keys points you should focus on when looking at investment properties.
LOCATION always matters. You as a investor should identify and be comfortable in the area you are investing in. Some people like investing in areas where there is great school ratings while others may like lower income areas.
PROPERTY TYPE is knowing what you want to START investing in first. IT IS NOT OK to say I want to investing in everything. You have to start somewhere and by knowing what you want to start off with you can apply the right strategy to acquire your first property. Therefore, identify what property type you are investing in first. Will it be Single Family Residence, Multifamily, Mobile Home, Commercial, etc.
CONDITION is you knowing how much you are willing to take on when it comes to the work needed you get the property to be rent ready or put on the market for sale. Do you want rent ready(No work needed)? Do you want little cosmetic repairs? Do you want to take on a full rehab?
PRICE RANGE needs to be within your comfort level. Over leveraging yourself can take you out of the real estate game real quick. ONLY YOU know your true financial abilities. Not the bank, not what your family and friends may think, or not even some guru investor/coach. Carefully map out you money rules and STICK TO IT.
RETURNS is what we all want and what we are doing this for. Analyzing your deals properly to make sure they CASH FLOW or make you a profit at the end of a flip is critical. So knowing how much return you want to make on each investment is important and learning how to analyze deals is necessary.
We want to see everybody WIN but you have to want it for yourself as well. If you not sure how to get started in real estate investing or looking for the proper guidance reach out to us. We'll figure out together if you're a right fit for our program. #RealEstateInvestingForBeginners