We just got back from the largest real estate investment conference in the Midwest.
The Ohio Real Estate Investors Association puts on this conference every year.
It brings together over 700 new and experienced investors like us.
Even as experienced investors, we were able to gain a few sweet nuggets to help us grow and maximize our current portfolio.
We are visual learners.
We put together this Real Estate Investing Infographic:
Four Tips You Need to Know in Real Estate Investing.
Do You Know these Four Tips?
KNOW YOUR MARKET
Do the research and make yourself as prepared as possible for bumps in the road. Read case studies and focus on people who have been successful in similar markets, as well as those who have similar aspirations to your own. Set goals and a timeline to start achieving.
SOLO VS TEAM
Facing a new business venture alone can be daunting. Some investors have benefited from choosing a trusted partner to invest with. It can be helpful to have another person to bounce ideas off of. The old saying is true, two heads are better than one, especially in areas that require creativity and problem solving. In real estate investing, two wallets are also better than one!
You may have heard that the concept of leverage is one of the unique attributes that makes real estate an attractive investment. Real estate investing without leverage is often slow and not scalable. Banks and mortgages allow you to use other people’s money to grow your wealth. Your tenants pay the bill for your investment property, and if it is a good investment, you may also collect a profit.
There is no rush! Start your portfolio as large or small as you feel comfortable. Regardless of the size, it is important to set goals for the first few years as soon as you begin. Consider how you want to shape your real estate presence now and in the future. You can achieve big things with a clear and well thought of vision. Your vision combined with the right resources and insight, you can achieve big things!
All in all, real estate investing can be a profitable endeavor if it is undertaken with prudent care and research. It can produce dividends long after the initial investment and has the potential to deliver outsized returns for many years.