how to succeed in real estate investing Five things you need to know to succeed in the real estate industry

From Facebook groups to fractional ownership, we’ve got you covered.

There are some big questions out there. You know the ones. What’s the meaning of life? How do we solve world peace? How can we save the planet? How can I succeed in the real estate industry?

Alright, well, maybe that last question isn’t as common, but we do still hear it often. Whether you’re a new investor, a seasoned pro, a skeptic, or an evangelist, we still hear variations of the same question: what can I do to best succeed in this space?

We’re just like you, real estate investors looking to maximize returns through shorter stays. Luckily, we’ve been around the block a time or two and have some findings to share.

  1. Join Facebook groups. This is a simple starting point every investor should consider. You’ll be amazed at the kind of community that is literally clicks away.
  2. Find a mentor. Too many people think about this as an early-career strategy. You’re never too old or too experienced to have a valued mentor in your life. Sometimes great relationships happen naturally, but more often this takes a concentrated effort — and it’s an effort always worth making, in our experience.
  3. Start small. There is a lot of learning involved in real estate investing. Investors should start small with hands-on ownership projects and earn those lessons as they go. Investing in multiple properties can still be the goal, but it’s worth your time to start with a manageable test run and gain more insights as you progress.
  4. Look into fractional ownership. The age-old maxim that’s passed around to every investor is not to venture more than you can stand to lose. There’s truth in that for the real estate industry, too. Fractional ownership makes it easier for investors to participate in the market — they get every real-life lesson while still being able to stick to an amount that they can manage.
  5. Don’t do arbitrage deals. Real estate arbitrage occurs when an investor ‘sells low and buys high,’ but does so in a matter of days or weeks, oftentimes not even exchanging money for the sale until they have the buyer ready. This is often a make-money-fast strategy that isn’t sustainable, and doesn’t provide any real value in the market. It’s a much better approach to invest in a community, and to make sure your portfolio is serving other purposes rather than just creating a price hike.

If you’re interested in reading more about this and other topics, Emir, our CEO talks with our friends over at Authority Magazine about how he got started and other real estate industry tips. Take a peek at it here. Happy reading!

 

 

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