• twitter

Over the last few years, property prices have seemed to be pretty stable; however, they are starting to fall as the world looks set to go into a deep recession which has been kicked off by COVID-19. When the property begins to fall, the real estate business attracts a lot of new investors. 

If you have been toying with the idea, then you need to start researching and working out your next steps. Firstly, have you considered how you want to start your investment and what will work best for your lifestyle?

There are lots of different kinds of real estate investing. The most simple being rental properties. This could be one purchase which you rent out to tenants long term, or it could be a holiday home or other short term rental. You may decide to go into wholesaling. This is where you work as a go-between. You purchase the house under contract and then sell that to an end buyer. This lowers how much money you layout, but also means you make less profit. Commercial real estate includes leasing your properties to shops, offices or other non-residential use. You might also invest in a property to flip it. This simply means you buy a property that needs renovation, do the work and sell it quickly for a profit. 

One of the great things about real estate investment is that you don’t have to do it full time. If you are looking to make it your career, you can dedicate more time to it. This will save you costs if you take on some of the work involved in renting or flipping properties.

Making a career out of real estate investment demands a lot of research and planning so you should search the internet and find some great resources for real estate investors. You should also talk to other investors and find out how they got started and get a fundamental understanding of the costs involved, and any issues they had when starting.

You must set yourself a budget and stick to it, also start with one property even though it can be tempting to jump into a few projects, you should take your time to build your portfolio into something that works for you. 

Real estate investing is an excellent career if you get it right. However, you do need to make sure you have the right finance in place and understand you will have a few teething issues at the start. You are going to need to dedicate a lot of time into it, and this could mean working around the clock and taking you away from your family and friends. It can be a highly stressful career, particularly if you are managing it around another job. However, if you use the right people and have the correct support network, then you could make a lot of money and build yourself a much healthier future. 

This article is a partnered post that contains affiliate links.

Translate »