When you decide it is time to do something with your life over just having a job and career and really build some wealth, real estate investing might just be the ticket.
To get started in real estate investing there are 7 major steps as outlined below in this video from bigger pockets.
The seven steps are:
- Get your real estate education. You can purchase books, courses, visit investing forums and watch videos on YouTube like the one above.
- Choose your niche and develop your strategy. The niche is the type of real estate you want to buy like residential or commercial. Your strategy is the way you are going to make money with your niche like flipping, buy and hold, etc..
- Create a plan. This will keep you on track and make the process much easier.
- Go out and find your property. Scouring your city is the easiest way to find your perfect property. Hire bird dogs and have a real estate agent or two help you find good deals.
- Your need funds to purchase your deal. Bank loans are a decent option and so is using a private money lender who will charge you a higher interest rate but will make it so much easier to get the loan done.
- Master your marketing strategy. Buying and selling is a critical part of your investing strategy and you must master marketing for both.
- Get paid. The best part of real estate investing is to of course get paid. Then you can move onto your next deal or take a vacation!
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