It’s easy to get excited about investing in real estate and property in the United States.
One of the most proven and practically guaranteed investment vehicles for generating amazing wealth and truly passive income, picking up the right real estate and adding it to your portfolio can totally transform your financial future in ways you never could have imagined previously.
At the same time, there are going to be plenty of people that tell you it’s impossible to invest in real estate without some special skills, some special gifts, and a mountain of money to invest.
Nothing could be further from the truth.
Below you’re going to find a handful of tips and tricks designed to help you make the most of the real estate investing opportunities you’ll find in the United States today. Implement as many of them as you are able to, as quickly as you are able to, and your wealth will begin to skyrocket.
Let’s dive right in.
1. Learn as much as you can about the different types of property available
The most important thing to realize right out of the gate is that there is no one true path to success in the world of real estate investing in the US today.
Real estate seminars are going to promise you the moon and the stars when it comes to the “secret” way to make money in real estate, promising you that they are patented method is the only way to generate wealth. Nonsense.
You can make money in real estate by purchasing vacant land, single-family homes, multi family properties, commercial real estate, mobile homes, and even investing in the notes and mortgages securing properties. The opportunities are endless.
You’ll want to research different types of properties available that you might be most interested in moving forward with to define the strategy that you will use to build your real estate wealth.
2. Establish real goals
The next thing you need to do is figure out what you’re trying to accomplish with your real estate investment.
Are you looking to pick up a handful of inexpensive properties that you can rent to local families, paying off those properties quickly and generating a nice bit of passive income on the side?
Are you looking to invest heavily and aggressively in commercial real estate, looking to capitalize on one of the most secure real estate/property investment strategies to build generational wealth for your family?
Are you looking to become a developer of vacant land, building something from nothing, and creating your own little real estate empire from scratch?
Or are you looking for something else entirely?
Only after you get concrete about your real estate investment goals in the US will you be able to move forward with a viable strategy that gets you closer and closer to your ultimate desire.
3. Learn how to accurately assess property values
The most important skill you can develop as a real estate investor is the learning how to understand and assess the value of any one specific property, even if you have spent next to zero time in that specific real estate market area before.
You’ll want to read as much as you can about how to value property, looking into the condition of properties, the tangible and intangible assets a piece of property might bring to the table, and a whole host of technical data points that you can dig up on any piece of property you are interested in.
But you are also going to want to learn how to evaluate the price of properties that you’re looking to purchase on a “gut instinct” basis as well. You’ll want to learn how to spot underpriced and underappreciated assets as much as you can spot overpriced and way overvalued properties, giving you a significant advantage when it comes time to negotiate and secure these properties.
Some of this can be learned from books, videos, and seminar programs, but a lot of your asset of valuation skills are going to come from down and dirty research, hard work, and years of experience.
Always strive to get the most accurate information available when you are valuing properties before you invest and you’ll not have to worry about making major mistakes with your capital – mistakes that could derail your financial future faster than you would have imagined possible.