Getting Started in Real Estate

New investors ask me all the time: how do I get started in real estate? 99% of the time, new investors over-complicate the process. It comes down to these 4 steps:

• Pick a strategy: LTR, MTR, STR, BRRRR, wholesale, flip, etc.

There are a million strategies to choose from. Do not let yourself get overwhelmed! If you feel stuck, start with something simple, like traditional long-term rentals. You can always learn a new niche later on. 

• Pick a market: This can be one of the most overwhelming decisions, but do not let it be. There are great markets everywhere—just pick one.

When choosing a market, look at key metrics like population growth, employment rate, crime, home value, and income rates. Once you have narrowed your search to a few strong candidates, just pick one and start writing offers. 

• Find the funds: Time to choose a lender! You have options: conventional, hard money, DSCR, private money...the list goes on.

Think about what capital you have available and pick a strategy that works best for you and your needs. There are countless resources available to help you identify what type of funding to use. Of course, if you need lender recommendations, do not hesitate to reach out to me. I am happy to introduce you to my go-to contacts! 

• Start writing offers: Now, get out there and put offers in!

Do not overlook this step. You’ve done the research, you’ve lined up the finances…don’t sell yourself short! Work with an investor-friendly agent and start writing offers. 

If you follow these steps and do so consistently, you WILL go under contract. I am rooting for you!