I talk to endless amounts of people who have been thinking of getting into real estate their whole lives. Here is what you need to know.
If you have been “thinking about getting into real estate” for more than a month or two, you are no longer “thinking about getting into real estate” but instead you are “thinking of reasons why you should not do real estate”.
Real estate investing is really easy ill lay it out here, every thing you need to know:
Flipping
1. Buy a home
2. Sell it for more than you paid
If you want to wholesale
1. Find a buyer
2. Find a Home
3. Use your buyers money to buy the home your going to sell to him.
If you want to get into rentals
1. Buy a home that rents for 1% or more of what you paid.
2. Check what most homes rent for in the area and be sure that the one your buying is nicer than them, and you can afford to rent it for $50 to $100 less than them.
I know that it is a hare more complicated than this but its definately not rocket science. Im an idiot and I do a ton of real estate.
“Thinking about buying real estate” is like wanting to shoot a deer but never bringing your gun to the woods. You could be the worlds best tracker, best scouter, and have the perfect place to hunt, and the perfect blind, but if you never bring your weapon out to the woods, more than likely you wont shoot a deer.
If you would like to talk to me personally about real estate investing visit www.TheForeclosureCollege.com
Eric Medemar
www.TheMillionairesBlog.com
www.TheForeclosureCollege.com
