How To invest in real estate? That is the question, simple answer, many ways. Though today we’re going to just tickle the waters, with a step to step plan, on how one might get started in this exciting and growing business!
1. Figure out how you want to invest in real estate.
The first step in this mass business is figuring out which direction you want to step in. Maybe Airbnb is the route you want to take, we ourselves Airbnb our renovated attic, which gives us the wonderful opportunity to meet people from all over the country/world, along with turning an otherwise wasted space into a lovely burst of extra cash.
Or possibly Owner-Occupied Rental? A similar idea, though a little more permanent, could be a wonderful way to pay off that mortgage. Or maybe you just want to get into the rising stream that property value seems to be in? Though I would say the most prominent way we have capitalized in the real estate world, would have to be buying and Flipping homes.
This can take a lot of work, though at the same time be a successful carrier! Here are some picks from 1745 Towne Drive.
Flipping houses can be such an amazing way to express your excitement in life!
Here’s a site that goes into more detail on the House flipping side of things.
2. Identify your budget.
The second step would have to be, how much do you want to(can) spend. Call your banker or financial advisor and look at what is a realistic plan on how much you can invest. You don’t want to look at million-dollar houses or projects when you have a 200k spending budget.
3. Find your ideal location.
This falls back a lot on the previous questions, if you want to Airbnb or rent, make sure the location you choose doesn’t have laws and restrictions against it. Also, prices fluctuate like crazy! You can find one house in beautiful suburbia, then find the exact same house in dumpty land, and your second option understandably will be far cheaper than the first. So, take a close look at that.
4. Begin your search.
A great way to do this is by searching on Zillow or better yet, our website. Something else that would help you a ton, is having an agent. Of-course we would love to be your pick, or you might already have someone. Whatever the case, give them your criteria, and they can help you look, even set up an automatic search for you. This can make the search process fun and super easy. Also, it’s totally free for us to search for you!
Maybe obvious, but this is the final step in your real estate dreams. Once you have put in the work of finding out how you want to invest in real estate, where you are financially, what location you want to be in, and you found that perfect home(Assuming you don’t already have the perfect home) make that final and massive life step, buy!
Here’s a site that can go in more depth of the points and steps we covered.
PS: You can check out all the details on a house we renovated and now rent out!
Honestly, the real Estate world is vast and exciting! Whether you take an interest in design, building, meeting new people, or simply want to begin a sweet new gig. Whatever you do, do it with passion and excitement, for we are but a vapor on this earth. Don’t waste it!