What Are Your Top Four Tips In Real Estate Investing?

Question

Mine are:

1. Location of subject is #1.

2. Connect with Lenders. Use their money and tools.

3. Everything is fixed with Youtube, a contractor, planning, and sweat.

4. Ask for forgiveness, ask for help, and listen to smart people.

Eric Gerakos · Answer

1. Have a clear goal before you invest with an exit strategy.

2. Don't convince yourself that you can make a rental property work if the numbers don't work. It's all about the numbers.

3. Buy A and B properties for more appreciation and higher quality tenants with fewer problems.

4. Don't be real estate rich and cash poor. Have plenty of cash reserves.

Caroline Gerardo · Answer

Love your #3 @Landon Bleau

Landon Bleau · Answer

1. Know how to analyze/underwrite and if you're buying a good deal

2. Buy below market value/or with upside potential, preferably both

3. Have reserves set aside (learned that the hard way)

4. Get systems in place for rehab/renting/managing

3 Replies