Finding your RE Focus: A beginner’s guide
When you first start out in real estate investing, I guarantee that you’re going to be overwhelmed by the variety of strategies out there. I’m not just talking about rehabbing, exit strategies, acquisition strategies, or funding, but how you as an individual will be proactive in your real estate career.
The steps to finding the right focus for you are simple but they can take a little time and honesty to identify. Here are two key things that you need to identify as you start looking for a focus in real estate investing.
REAL ESTATE JOB VS INVESTMENT
There is a clear distinction between your interest in real estate as a “JOB” or as an “INVESTMENT”. Both can be a good stream of flexible income but only one can set you up for success throughout the entirety of your life (even through retirement)!
“Job” – Current income stream in this moment, paying the bills
“Investment” – Long-term wealth and achieving financial independence
There are plenty of real estate jobs that can make you money and are great stepping stones on your journey into real estate investing. Become a real estate agent, contractor, broker, fixer-flipper, rehabber, you name it: there is most likely a job out there for you. The real problem with just having a job is that you aren’t diversifying your stream of income. You’re getting a check from one source and that money is then used for the next project or on bills that you have right now.
Real estate investing, on the other hand, sets you up for success by diversifying your income and prolonging your ROI (return on investment). When you have multiple streams of income and the resources to invest in other types of real estate, then you are building your wealth for the future.
INVESTING: PASSIVE VS. ACTIVE
Another great way to identify your focus in real estate is by finding out whether you want to be a passive or active investor.
Passive investors don’t necessarily have the time or desire to do the heavy lifting of rehabbing or whatever else there may be. A passive investor wants to have the most ROI on their investment while doing as little as possible.
An active investor wants to get into the details and “do” the thing. They want to be involved in as many steps of the investing process as possible. This is also an investment of their time.
You have to know yourself well enough to identify which type of investor you would like to be and be realistic about your willingness to invest time and effort.
When trying to figure out your focus in real estate investing, you need to be open and honest with yourself about how involved you will be. Do you want to go to a “job” every day, or do you want to add new strategies to investing in your future? Do you want to take a more lenient approach to your investing or be the “do-it-all”? All of these options are fine in the end but if you’d like more direction on how to start your real estate investing process or need help on where to begin, attend any of our nationwide funding tours in a city near you! Get serious about your real estate investing business and receive a $250,000 pre-approval letter for buying real estate investment properties!
Register at www.fundingtour.com or call us at (800) 341-9918. We’ll help keep you on track to achieve your real estate investing goals.