Making a fortune in real estate isn’t going to boil down to one thing…or is it?
You’ve been told all the reasons that real estate riches aren’t for you.
Whether it’s the cost to get involved is too high, you don’t have the time or the resources, or you’re just not cut out for it, don’t listen to naysayers’ reasons for you to sit this one out.
Benchwarmers may gain a lot, but the star quarterback on the field makes so much more. Those players already in the game don’t want you to claim what’s yours.
Little did you know, real estate comes down to one thing that can make or break you, and I’m about to tell you what it is.
Different people will tell you hundreds of things you need to be successful in real estate.
It may be a good realtor, a lot of cash, friends in the field, or perhaps an eye for properties.
But they’ll never admit that if you’re missing this crucial thing, you don’t stand a chance at making the real estate wealth you dream about.
It’s all part of keeping the current players in the game.
If you were making millions of dollars in the real estate business, you wouldn’t want a newbie investor coming in to steal your money on beginner’s luck, would you?
That’s why you believe real estate investing is so difficult. It’s what they want you to believe.
Well forget about them because I’m about to hand you the key to your success that determines if you’re destined to replace the current moneymakers.
It all starts with dipping in a toe.
Sure, you can go all in and drop your retirement savings on a commercial property and be done with it.
But most people don’t have the stomach for such a risk.
We often like to suggest easing yourself in, and with up-and-coming technologies, that’s easier than ever.
Companies like Fundrise allow smalltime investors to put money into the real estate market without actually owning property.
Perhaps you start by flipping a property you’ve inherited, or managing a small condo in your city.
You don’t have to make crazy returns when you’re just starting out. The point is to get used to the process and learn as you go.
Real estate is one of the easiest industries to make big bucks, but it’s also incredibly risky.
You can’t control the housing market, and nobody ever really knows when another 2008 could hit.
But that shouldn’t stop you from investing in real estate – it should just remind you to be cautious.
Once you’ve gotten used to smaller scale investments, then you can take on bigger ventures.
Perhaps you buy into multiple apartments, or a larger family home, or even a commercial property.
All of those options have their benefits and drawbacks, but you stand to make money no matter what.
Regardless of where you choose to set down roots in your real estate venture, the key to success that will make or break your wealth is organization.
It may seem like that tip belongs in a high school class, but it’s true.
If you’re not cognizant of all your investments and where they’re at in certain points in time, you could watch your whole operation fall down around you.
The nature of the beast with real estate is paperwork.
You’re going to be drowning in it once you begin to wholeheartedly invest in property, especially when you’ve got more than one.
If you can’t keep the paper trail side of things in line, the rest will get away from you in no time.
The important thing to remember is this investment is yours, and the only goal is to make you money.
Thankfully, industry leaders have already thought of ways to keep your paperwork and properties in order while you worry about more important things.
Apps like Dotloop allow you to input all of your relevant real estate information, paperwork, what have you into the platform, and it will be managed for you.
Even the most experienced investors applaud the application’s ability to keep tabs on each deal as they go through and to maintain the proper orders, registrations, etc. for existing properties.
Staying organized is the first step to a successful real estate fortune. If things start to unravel before you get into the big-time stuff, it will all get away from you in a heartbeat.
Keep hold on your interests and your money. Don’t let muddled paperwork interrupt your wealth-building.
This trick will save your riches and keep you on the path to real estate success.