I am here to share my experience and to provide some tactic tools and strategies as you anticipate for your most awaited first multifamily deal. This is the exact same process I followed, I just fine-tune it, refined it throughout the journey on the multifamily side but now it’s to a point where just doing small tweaks at this moment, so I'm just going to share what I’ve done up until this point.
Today, more and more people are now doing the big switch from single-family to multifamily real estate property investing. This is because multifamily investing is more promising in terms of value, competition as well as the return on investment.
On the other hand, shifting to another investment opportunity is not as easy as you think. I can attest to that. The road to success wasn’t easy. I had encountered a lot of setbacks and mistakes before I finally learned the ropes of it.
To succeed in the real estate industry or any other niche out there from what I’ve seen, it is essential that you want to be investing in the right tools and materials but other than that, I’d say yourself is the most worthwhile investment. Why do I say this? For me investing in myself is something that has helped me to reach where I am today.
As I have alluded to, I have made more mistakes in the past compared to my successes, but I always make it a point to learn from them. During that time, one of the most effective methods I’ve found when conducting real estate deals is the direct-to-seller approach. Using this method, you will have the highest chance to close a deal with the best terms for you and the seller.
The real estate industry is very inviting, just think of the opportunities and hefty income that you can get if done right. On the other hand, people tend to have difficulty deciding if they are going to jump in or not. Entering this industry is not easy for the reason that aside from the things that one needs to know or familiarize, having the right mind-set is definitely should be the main priority.
In this article, I will be sharing my thoughts, mindset, and experience as I go through the real estate investing journey. Having a proper mindset is I think very important especially if you want to succeed in life in this competitive industry.
Starting in the real estate industry isn’t an easy endeavor as they make it out to be on the TV shows. Equipping yourself with the right information that you can use to learn and move up from a novice in the industry sooner or later speaking from experience. You can have the best books, forums, e-books, and advice from the seasoned real estate experts, but you cannot gauge your success until you apply it in the real situation.
Due diligence by definition refers to the investigation carried out by a business or person, before entering into a contract or an agreement with another business or person. It can be useful prior to "going on the contract" and even "post-going" on a contract, during due diligence or feasibility period. Due diligence provides clarity on the deal which you plan to purchase.
People constantly talk about timing real estate investments with the market, but I’ll let you in on a secret. You actually do NOT need to have the “right timing” in real estate to make money. Find out how to increase your cash flow no matter what is going on.
You set your mind to graduating with a degree and accomplished it, but now what? There are so many questions going through your mind as you transition from student to the real world. It’s possible that the original career path that you thought you would take doesn’t look as attractive as it once did, so what can you do about it? Find out in this blog.
