Real estate… it’s one of those things you hear about a number of the rich people making their fortunes from. And you’ve dreamed of getting involved and making real money, but quite frankly the idea of purchasing a foreclosure home, renovating it, and attempting to flip it doesn’t sit well with you. You just don’t have the stomach for it. Yet the idea of taking a step into the lucrative world of real estate won’t leave you. So you’re here now, looking for real estate advisors to guide you in the right direction.
Finding the right group of real estate advisors can set you up for investment success. But the key here is finding that “right group.” With that in mind, we’ve pulled together a few pointers on finding the right company to help you put your dollars to work.
1. They advocate multifamily investing – Sure flipping homes are great for people on those do-it-yourself shows. And renting single family properties seems like a great idea too. But the truth is both entail a lot of work. And when you’re renting, it’s a whole lot of continual work. That’s why you should look for real estate advisors that push multifamily investing-or buying apartments. You can go in with a group of people, allowing you to buy larger, and leave the upkeep to a solid property management company. It just makes sense.
2. They offer a free course – Here’s what you will usually find: real estate advisors on the web trying to sell you a product. It might be an investment book. Or perhaps a few CDs that are supposed to turn you into a real estate genius. You don’t need all that. What you need are real estate advisors that will offer you a free course to get you started and will truly be committed to mentoring you along the way. Who wants another book lying around the house anyway?
3. They focus on goal setting – Real estate investment shouldn’t be looked at as a “get rich quick” scheme. Instead, the real estate advisors you choose should focus on meticulous planning. That means you identify your goals, both short and long term, from the beginning and then you carefully plan how you will achieve them. There’s no one-size-fits-all solution to investing-and they will understand that.
4. Teamwork is essential to their approach – You’ve heard the saying “it takes a village?” Well, it does. That is why trustworthy real estate investors will insist on teamwork being fundamental to your investment success. And that means teamwork within their organization, as well as outside.
5. They’re knowledge-based – Finally, when you’re looking for real estate advisors, what you really want is knowledge. You want someone who has lots of experience investing in this manner who will teach you all they have learned. How can you be sure they have that knowledge? Much less will give it to you? Just look at their website! It will be apparent by the articles they’ve written and the language they use if they truly understand the intricacies of investing and if they intend on educating you on what they have learned.