Real estate comes with a lot of ins and outs. A lot of things to remember and keep up, a lot of things to juggle all at one. But once you get into the groove of it, it becomes second nature to you. You do things without having to think about it and you find yourself calculating deals in your sleep and investigating properties without even meaning to. Once you’ve reached this state, you have reached the perfect place to start incorporating some good habits to make sure that you stay at the top of your investing game.
Analyze Always
Top investors are investors who are constantly looking at new deals. Even when you aren’t quite ready to make one, keep on top of the local market, and run through the paces of analyzing deals and consider making offers. Investing is purely a numbers game – and if you are familiar with the numbers and aren’t afraid to jump when the numbers are good, then you are well on your way to being a top performer.
Network, Network, Network
Real estate of any kind is all about your network. Keeping your foot in every door, and making contacts within your circle and within the circles you hope to infiltrate. There is no such thing as too many contacts. You should be making friends with every one, from property managers to lenders, brokers, and appraisers, insurance agents, attorneys, real estate agents, and investors. These people are the lifeblood of investing and having them readily available to you will give you the ability to make deals with more confidence and much more rapidly than if you had to start from scratch. Having the right contacts may also provide you with the added bonus of finding deals that are not yet on the market – this means that you may be able to take a stab at a deal that you would otherwise not see. Having a network of people is your safety net, it means you’re able to pull for a wide pool of knowledge, experience, and possibly funds.
Chase the Cash
Successful investors are investors who are constantly raising money and talking to potential investors. They are constantly looking for successful syndication and for individuals who are interested in real estate and could participate in an acquisition. This may feel uncomfortable at first, but getting in the habit of talking to people about your interest in investing and asking for referrals is the best way to make sure that you always have capital available to you when you need it. It’s not crowdfunding. It’s not multilevel marketing! It is asking qualified, interested investors to join you in a deal. Get yourself used to the idea of talking about investing with everyone and just like everything else, it will become second nature!
It’s as simple and as difficult as that. Practice these three things and don’t be discouraged if you don’t see immediate results. Keep going and eventually, you’ll make that first deal. If you’re looking to become an investor and aren’t quite sure where to start, we would love to help. Head to our contact page and fill out the form provided. We will contact you and let you know what deals we are working on and how you can get involved. We are a commercial, multi-family real estate investment firm that is committed to properly managing your transactional assets as well as accounting for all future market conditions for each investment; making sure to keep you secure and growing your passive wealth income goals for many years to come!
