Real Estate Investing - 2 Techniques That Long Term Will Make You A Fortune

Real Estate Investing - 2 Techniques That Long Term Will Make You A Fortune

Source - https://www.stressfreepropertymanagement.com/blog/real-estate-investing-2-techniques-that-long-term-will-make-you-a-fortune

As I was brainstorming what to talk about this month in my Riverview Property Management newsletter, I decided to explain a couple of techniques I use to improve my real estate investing. First off, I highly recommend you obtain a real estate license in the state you wish to invest in over the years.

I know the expense and efforts put people off. However, this is the very reason why it is so important. Granted, if you aren't interested in owning five or more rental properties across your career, it is probably not worth it, but let me explain why it has been a huge benefit to me.

First, I can set up a search on the Multiple Listing Service for any foreclosure, short sale, or any other criteria I'm looking for in a rental property. I'll get a daily update of any new listings that meet my criteria, price drops, or sales.

This is critical for developing a feel for real value. I look at about 25 properties a day through these emails. Once you've seen hundreds of them, you start getting a feel for what might be a good deal or not.

Second, I can look at any property in person I'm interested in without having to schedule with a Realtor. This is a huge advantage because you can walk these properties at a convenient time for you and not be pressured into buying anything by the sales pitch of the Realtor.

Good deals don't last long, so you must move immediately.

Third, you can make offers quickly and easily for the same reason mentioned above, and you get to keep ½ of the real estate commission earned. If you buy a property every few years, the commission saved will pay for the cost of the real estate license and Realtor fees over time.

Finally, you combine the benefits of the license with a 30-year fixed-rate debt obtained through banks. Right now, the opportunity is limited, as 99.7% of all deals are full retail or would not make good rental properties. However, if you just bought one good deal every few years, this would turn you into a millionaire over time using an extremely conservative technique.

The real opportunity will come in recessions and normal real estate markets.

Deals will be much more plentiful. I know most of my clients are not real estate investors, but I thought this might at least be interesting to read. I've found over and over again that by being willing to do the things that 99% of people don't want to do or don't get around to doing (as it relates to investing) has made all the difference in my life. Food for thought‌

THANKS FOR WATCHING! Any questions?

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You can find me at: https://www.stressfreepropertymanagement.com/ • Please call us at 813-831-7368 • email at- Help@tampastressfree.com