If you came to this post because you want to start investing in real estate you came to the right place. However, you’ll be surprised to find out that there is no one single answer or a magic bullet if you should be investing in real estate. So the answer to should I start investing in real estate is. It depends! It really does. We will talk about what it depends on so that we can tailor real estate investing strategy that fits your life and not have you fit into the life of real estate investing.
The Most Important Thing To Know When Starting Out
1. Ask, Is Real Estate Investing Good For Me NOW
No matter how much we encourage people to go out there and invest in real estate because we believe it’s good to build long term wealth, the first thing you should do is evaluate if you are really committed to it. If you have a good job and are earning a good salary will you really put your time and effort to become a successful investor? Or will you put half the effort? This is an important question to ask yourself because if you’re not really committed you wont put the effort to become a successful investor which guarantees a waste of time and money.
2. Understand The Effort It Will Take
When most people begin their journey of real estate investing they have very high expectations and are very optimistic which is good and bad. Now you might ask why is being optimistic bad? Well, it’s not bad as long as you are realistic about what it will take to become a successful real estate investor. Many people especially when they start out investing in real estate overestimate their success but underestimate how much effort it will take.
We have all seen or heard successful real estate investors and assume it’s EASY to become a real estate wholesaler, or a real estate flipper but we almost never hear about how much effort it took to get there. If when starting out you don’t prepare yourself mentally on how much effort it will take to become a real estate investor you will give up quickly. But if you understand how much effort it will take, down the road when hard times come you won’t just quit because you expected it to be hard in the first place.
3. Are You Committed To Follow Through Every Day
It’s not enough to just understand the effort it will take to become a successful real estate investor. You must also commit to follow through because that’s what’s going to differentiate between a successful and not so successful real estate investor. Action trumps any learning or seminar.
If you’re committed to follow through every day and understand the effort it will take, don’t wait, go and find your first deal. The time is ticking.