Real estate investing excites a lot of people. Everyone knows there’s money to be made, but they usually don’t know the correct steps. Some investors wing it, do a little research and hope for the best. However, like any business, it sure helps to minimize mistakes, make better decisions and make money quicker. The best way to do this – learn from someone who’s invested, renovated, flipped, rented, managed and sold a number of money making properties
Having this type of experience and being a Realtor® I ‘m often asked, “what’s the best way to start making money in Real Estate?” I tell people there are a number of ways but an important key is get started as quick as possible. Property generally appreciates, why wait? The person asking is always eager to learn but before getting started I like to know their goals.
Most people know real estate investing is a great way to make money, however, there’s so much information to process, and because it’s such a broad topic, it’s confusing.
Real estate T.V.
Real estate T.V. programming inspires us, but the shows can be confusing when their main focus is drama. Focusing on drama is interesting but the important money making details can get overlooked. And, of course, there are too many details to cover in a short T.V. show, especially when details vary depending on a person’s goals, their location, and their local real estate market.
Each individual interested in real estate investing might be looking in a slightly different direction. A person with strictly investment goals will be looking for something different than a person planning to build equity through labour etc. There are different answers and plans for each individual’s goals.
The more I talk with curious investors, I learn, in most cases, they have a bit part of a plan already. The initial conversation also allows answering questions a chance to clear up confusion from misinformation gathered. For example, since the new mortgage rules came out, some people have been confused by misinformation they’ve heard.
There are a number of paths to take when investing in real estate. Some people want to flip a few homes and gradually build equity toward buying their dream home. Another person might be planning a portfolio of investment properties for retirement. Each person’s plan will vary a bit, and their approach should also.
Depending on the plan here are things to consider:
There are better properties to buy to maximize rental return?
There are better properties to buy when planning the most profitable flip?
What locations will see higher appreciation in the next decade?
Some properties will sell faster than others?
Some properties will appreciate quicker?
Experience, expertise… priceless
My name is Blake King and I’m a Realtor® serving Red Deer and Central Ab with BigEarth.ca Realty. Before I became a Realtor® I purchased properties to earn a profit, and I’ve learned so much since then. I purchased my first investment property in 2003 and have since purchased, renovated, flipped, held, rented and sold over 22 investment properties since then. Since becoming a Realtor® in 2007, I have also assisted countless real estate investors to buy, plan, improve, rent and sell properties for profit. I’ve learned what to look for when planning improvements for profit, the best properties to purchase, improvements that earn the most, the best ways to flip for profit and numerous other techniques that maximize a buyer’s return on investment.
If you’re considering investing in real estate and you’d like to talk more about making the most return on your money, now’s a perfect time.
Even if you’re only interested in buying your personal residence, I can show you the things to consider to ensure you make the most cost-effective decision.