Becoming a real estate investor is an exciting career choice. There are many benefits that you find as a real estate investor that you can’t find working a boring nine to five job. So what exactly is a real estate investor? In this article I’ll be discussing the benefits of becoming a real estate investor. There are many things that qualify an individual as a real estate investor. I’ll be discussing the benefits of professionals who perform the buying and selling of property and benefit solely off of the investment. When you hear “real estate investor” you typically think of wholesalers, flippers, and landlords. The following are benefits that these professionals enjoy that you can’t find in many other professions. Financial Freedom One of the biggest benefits that comes from being a real estate investor is financial freedom. While being a real estate investor isn’t a get quick rich job, it does allow you the opportunity to achieve financial freedom faster than working a regular job. Jobs in the retail, service, and labor industries pay good over time, but it could be decades before you are able to retire. A career as a real estate investor can provide you with the ability to build a business from the ground up and retire at a much earlier age. Becoming a real estate investor not only provides financial comfort for you and yours, but it allows you the ability to create passive income. If you are a real estate investor who owns rental properties, you can set a goal as to how much passive income you want to make and retire once you start receiving that amount each month. You don’t have to worry about hitting a ceiling as a real estate investor either. The more good work you do, whether it is flipping houses or obtaining rentals, the more money you can make. You can’t get that with a conventional job! More time to do what you want As a real estate investor you have the ability to make your own schedule. Working at a conventional job, there are specific hours to have to meet and keep each and every week. With constrictions like that, it is hard to find time to do anything that you WANT to do. You get to dictate your own hours as a real estate investor. Now, while you’ll find yourself working plenty in the beginning, as you progress in your career and build your team you will find yourself with more and more time on your hands. Time that you can spend with your loved ones or taking part in hobbies that interest you! Early retirement, as stated earlier, is a definite possibility as a real estate investor. This means if you are a successful real estate investor you can spend more of your life doing what you want,...
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REIA stands for Real Estate Investor Association. REIAs can be found in every state in in pretty much every major city. They have been around for some number of years now and provide great stepping stones for new real estate investors looking to get a foot in the door. REIAs normally have regular meetings during specific days of the week every month of the year. You can normally google search “REIA” or “local REIA” to find the organization closest to you. Normally after a seminar or meeting you have the opportunity to sign up, normally for a fee. Whatever the cost is, pay it. The tools made available to you through these organizations is completely worth it. Every REIA is different, but all of them have the same end goal, to provide up and coming real estate investors with the tools to be successful. How exactly can you benefit from joining a local REIA? Networking Real estate is a relationship business. Having a wide network can help lead to success in any market, good or bad. How can joining a local REIA help you to better network yourself? Normally the speakers at REIA meetings are great sources of information on who to contact in town for specific services. They normally know who is who and how they can benefit your business. Whether you are just getting started or you are just looking to expand your team, ask the speaker for advice. Look around you! REIA meetings and seminars are all filled with professionals who are in or want to be in your profession. Real estate investors, realtors, wholesalers and lenders can all be found at local REIAs. Get yourself some business cards and put yourself out there! You could get lucky and find a great mentor or a partner you could end up working with for many years. Local REIAs are also very good at providing business cards of other industry professionals. There is normally a very large table full of business cards from painters, contractors and other industry specialists. Once you become part of an REIA you can get the names of great specialists in your local area through other members and services provided by that REIA. Talk to your speaker or meeting leader for great local networking. Interact with other professionals during meetings Check every meeting/seminar for business cards and use your member services Education Education is something you can never have enough of. In the real estate industry education is what keeps you competitive. Your local REIA is a goldmine of information and the perfect place to educate yourself on everything real estate. Free seminars are normally a great place to start the education process. Normally the seminar covers a very specific topic in pretty good detail. Actually being a member of an REIA gets you access to so much more!...
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REIA stands for Real Estate Investor Association. REIAs can be found in every state and in almost every major city. The National REIA is made up of many of these smaller associations throughout the country. Roughly 40,000 members are represented by this national organization. In this article we will be taking an in depth look at the National REIA. We’ll be covering topics such as the benefits of joining, the concept and the purpose of the organization. What is the purpose of the National REIA? As with any REIA, the National REIA provides organization and stability to members. The National REIA’s main purpose is to “To advance and protect the industry of real estate investing while helping real estate investors prosper and add value to their lives and their communities.” While most local REIAs provide a level of protection through education, the National REIA takes protecting their members to the next step by protecting the integrity of the real estate investment business as a whole. The National REIA is also able to advance and influence the real estate investment industry because of its size and reach. It is the only real estate investor organization that spans from coast to coast. This makes it one of the greatest go-to places to keep up with legal policy and practices. What are the benefits of the National REIA? If you are familiar with Real Estate Investor Associations then you know there are countless benefits to being a member. REIAs pride themselves on their abilities to educate, support and promote. How can these help you? Joining a National REIA will get you access to priceless education from people who are extremely successful in the real estate industry. While you can learn a lot from reading and studying books. National REIA meetings feature top industry professionals who have already sorted through the proven methods to being successful and the “tire kicker” methods. While coursework is great, your best resources for education in the National REIA are your peers and speakers. The support you receive from the National REIA is amazing. To have a nationwide network of resources at your disposal is something that you don’t find very often. The National REIA is a big promoter of sharing knowledge and resources to help advance the industry as well as keep a higher standard of business among their members. With real estate investors from coast to coast helping one another, it’s no wonder why the industry’s best and brightest are National REIA members. Where should you start? Joining a local REIA should be the first order of business. Make sure that they are a part of the National REIA. Attend your local meetings and seminars and start using some of the tools available to you. The National REIA promotes regional events in every part of the country. The next step...
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Investment properties offer unique and diverse opportunities to produce income. Whether you are looking for a long term endeavor like a rental house or an apartment building, or you are looking to make a quick profit, there are investment properties out there for you. This article is going to deal with three different ways you can take advantage of these properties and the income they provide. These are all great strategies, but before taking a crack at one make sure that the strategy you choose fits the business model that you have in mind. Flip Them One of the most common ways to take advantage of one of your properties is to flip it. If you have already cut a deal and own the property, chances are you already have an idea of what the after repair value is. If you are good at running comps on your investment properties then you should know what all updates you need to make on a flip. Make sure you put effort into giving your investment properties the wow factors that they need to sell at their maximum after repair value. After you finish repairs and updates on the property, it is time to sell it. One of the best things about working with investment properties is the ability to sell through different avenues. The smartest way to sell one of your investment properties quickly is to list it with an agent. You could try to sell your investment properties yourself but you will probably pay more in holding costs that agent commissions. Wholesale Them Wholesaling investment properties requires a lot of the same resources that flipping does. You have to accurately be able to determine a property’s after repair value and buy the house at a low enough cost me turn a profit. Typically a professional wholesaler has a group of go to investors that they sell their investment properties to. As a wholesaler, you charge a finder’s fee. That is how you make money off of those investment properties. You always want to try and have a buyer lined up before you close your own deal. If you want to be a fast and efficient wholesaler you can do a double closing. This is where you close both deals in the same day, normally in the same room within a short period of time. This cuts your selling time by weeks. With the right resources and relationships an individual could make a pretty good living off of wholesaling investment properties. Rent your investment properties Renting out your investment properties is a great way to build up passive income and retire early. It is a bit complicated to get started, but once you get the ball rolling of your first rental property it’s easy to keep on going. Just like flipping and wholesaling, you need...
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