To get started as a real estate investor is very easy. Most people make it look harder than it is to start, especially those who spend as much as 50K on courses and still claim that they have not yet “started.” You do not need to know everything; you just need to have people around you who do too.
First, find a trustworthy mortgage broker you like; that means looking at different banks and seeing how they operate, their policies and so on. What pull does your broker have in the bank? Some brokers work with a bank, and others have 16-17 banks under their umbrella. This is crucial because it helps you to build a relationship that will be useful when you have several questions and need a list for your opinion when necessary.
Second, find out how much you can borrow from them and also the B lenders, joint ventures, etc., so you know exactly where you are and what your options are for financing. This is imperative because the great deals go very quickly, as fast as a day.
When you have completed the above steps, and you are very much aware of the type of building and location you are interested in, go shopping with your real estate agent. It is as easy as that. This is where most newbies get stuck. They feel that getting in touch with a real estate agent to help them out is to annoy them. That is the furthest from the truth.
Finding an experienced great real estate agent is an important key to your success. The good ones will always return the call as soon as possible. Fantastic real estate agents have their fingers on the pulse of the market, know the resources to help you out, are phenomenal problem solvers and get the information you need so that you can move forward without delay.
All the next steps in the process the realtor will guide you through. Courses and reading on the subject will help you. Even as a real estate agent, you have to be up-to-date with the information, as each deal is different and you will face various complexities.
The gateway to your success is to stay focused and driven. Do not spread thin in too many directions and do not take no for an answer. Relationship development is a must and will raise the bar on your success rate.