Real Estate Investing Basics

Real Estate Investing? Be Patient!

Expertise:
28 Articles Written
I talk to hundreds of investors every month and there are some thoughts I would like to share with you on my experiences with investors, particularly first time investors. The question I hear the most for our investors is, How do I to get ready to start investing? The answer for me is two parts. [...] View the full article: Real Estate Investing? Be Patient! on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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    Patrick
    Replied over 11 years ago
    I think for me the preparation I needed boiled down to a single decision: that to start investing automatically. I set up an account with Vanguard and bought into their index fund, then set it up to take 150 bucks each month out of my checking account automatically. This has been a critical move on my part, and I can tell you what prepared me for it: increasing awareness. I really feel that I matured a bit in terms of honestly assessing my life and my current financial situation to the point that I wanted to turn things around. I got sick of buying stuff and then having to work harder and longer hours in order to get more and more “stuff.” Every tech gadget that I don’t buy now gets invested right into an index fund. What does this mean? I am buying my future back. Thanks so much for the inspiration here at Bigger Pockets….I know mine are!
    SEO
    Replied over 11 years ago
    Being prepared means being ready in every consequence associated with your decisions.
    SEO
    Replied over 11 years ago
    Being prepared means being ready in every consequence associated with your decisions.
    Nadine
    Replied over 11 years ago
    Very nice article. I really impressed with the 3 investing keys. Mostly we talk investing only by seeing the external factor. But these keys made different review.
    TerryT2
    Replied over 11 years ago
    I agree wholeheartedly with your advice and would add the following: 1. Talk to your accountant and get your company set up whether it be an LLC, S corp or whatever. 2. Establish your minimum financial hurdle rates. Then set up your financial models so that you can make a decision quickly. You have to be ready to pull the trigger fast. Good deals are rarely around longer than a week. 3. Establish your property criteria. Looking for minimal investment of time with credit-worthy tenants? Looking for a fixer-upper or “value add” deal? Whatever your criteria, establish it and then stick to it. You won’t waste yours or anyone else’s time looking at deals just because they sound like a bargain. Essentially, determine everything you need in place to establish a business and actually purchase a piece of property. Then narrow the types of properties you are willing to review and establish your minimum financial hurdles. Don’t waste people’s time. It is a big investment. Take it serious and get to the point where you can quickly pull the trigger on a deal that meets your criteria.
    Mark McGlothlin
    Replied over 11 years ago
    Troy – great post. Much of the single family mess in some markets was fueled by impatient speculators, not by patient investors. Real estate investing is not a way to “get rich quick”. Sound principles like you’ve outlined combined with thoughtful attention to market and deal fundamentals will create real estate wealth down the road. You’re post reminded me of a great quote – “Luck is what happens when preparedness meets opportunity”. Your call to be prepared is right on line.
    Eddie Peaslee
    Replied over 11 years ago
    It is such a great time to get involved in real estate investing if you know what you’re doing. If you’ve got the drive and a mentor of some sort to help you work through the deals than it is my opinion that we may never see a better time to get started. With prices discounted the way they are and the number of foreclosures reaching the levels they are it’s hard not to get involved.
    James Harrow
    Replied over 11 years ago
    A very interesting article. Listing the three keys to investing is a very useful thing, as many people pay attention only to the financial factor and tend to forget or ignore the other two.
    Delivery Codes
    Replied over 11 years ago
    Those people who are going to invest here can’t wait.Thanks.
    Discount Voucher Codes
    Replied over 11 years ago
    This is looking cool.Thanks a lot for sharing.
    Diego Campos
    Replied over 11 years ago
    Good!This is looking cool.Thanks a lot for sharing.
    NLP Training & Life Coach
    Replied over 11 years ago
    Excellent post thank you! Some things I hadn’t considered. Also Terry provides some very useful input above. In all honesty I am not very patient. 🙂 Reply Report comment
    NLP Training & Life Coach
    Replied over 11 years ago
    Excellent post thank you! Some things I hadn’t considered. Also Terry provides some very useful input above. In all honesty I am not very patient. 🙂
    jaxsonsmith
    Replied over 11 years ago
    I think a lot of people ignore this simple rules that most investors should always follow. Great post.
    New York Document Scanning
    Replied over 11 years ago
    Now a days the real estate company going to be as a money sucker, so I want to invest in it. It could bring me rich. Reply Report comment
    New York Document Scanning
    Replied over 11 years ago
    Now a days the real estate company going to be as a money sucker, so I want to invest in it. It could bring me rich.
    Dev news
    Replied over 11 years ago
    Man I dont like the real estate business those all sucks.