Investing in Your Future
If you're buying or selling you are managing your investments. So, let's unpack that a little bit, and talk about Real Estate Investing. It's said that one of the best ways to grow your wealth and financial portfolio is through investing in Real Estate. But what does that even mean? From my point of view as a licensed Real Estate Agent, you can invest in three ways: - Flip to Sell, quick turnaround - Flip to Rent, quick renovation with mid-long term ownership - Renovate to Own and Grow into the home (length of ownership is less relevant) No matter which way you go, you'll want to sort out your financing first. Meeting with lenders to talk about whether you'll finance or pay cash for your property and it's renovations is a great place to start. Then understand that the way you choose to finance may be dependent upon other variables: location, intention of ownership, condition, etc... Then, there are some other folks you may want to consult and bring to the conversation (if you employ them): tax attorney, accountant, lender, and asset manager. After you know how you want to start your project and understand how you'll pay for it, you can consider the scale of the renovation you want to tackle. Most intro to RE Investing websites recommend starting small, with a less risky investment -- maybe a property needing cosmetic work but is structurally and functionally sound (passes a 4 point, in a good location, age, etc...). Another crucial step in the process is sitting down with a trusted Real Estate Agent in your area to talk about the market. Their expertise will help you determine current market trends in pricing and inventory, your ROI, and look into the possibility of over-improvement for a property's neighborhood/size. They'll also be working with you to develop a marketing strategy if you're flipping to sell or rent, and even long term ownership. Keeping that last step in mind, building your investing team starts with you and me. You become the buyer, the investor, and the seller all at once. Good teams have good leadership with effective members all offering you support and guidance, and that's what I pledge to do for you.