There is no other industry on the planet that has made more millionaires than Real Estate.
If you have been interested in starting in Real Estate but are unsure how to start or what avenue to go down, you have come to the right blog!
I have been in the real estate industry for many years, I am a real estate agent, investor and landlord, business coach and best selling author.
I’m here to teach you all of the ways you can get started in Real Estate even if you have little to no money or have no experience.
Instead of investing any of your money into real estate you can make money by managing other people’s property for them.
What you need to get started:
- Some states require a license or certificate to become a property manager
- Clients with rentals that you can take care of
Real Estate Agent
When you think about Real Estate most people think of real estate agents. Being a real estate agent is a great way to get started in real estate. It has a very low cost to get started, you don’t need to have a college degree, you can make your own hours and you can learn a lot about the real estate market.
Related: How To Become A Real Estate Agent
What you need to get started?
- Pass the real estate exam
- Find a brokerage to work for
- Find clients.
Becoming a wholesaler is a great way to get started investing in Real Estate if you have little to no money. Wholesaling is when you contract a property from a seller and sell it to a buyer without putting any of your money into it. How do you make money as a wholesaler? When you contact a seller (usually someone in distress, foreclosure, unhappy landlord) and buy the house under cost and then sell it to a real estate investor at a higher price and you keep the difference.
What do you need to get started?
- Start getting a list of buyers
- Contact property owners and create a list
Fix and Flip
We have all seen the HGTV shows on how to fix and flip a property to make a good profit but is it still worth doing today? Absolutely! There will always be homes that you can buy under market value, fix them up and sell them for more than what you put into them. Many real estate investors use these types of properties in the portfolios. If you are looking to get into fixing and flipping properties I highly recommend finding a mentor to help you navigate the process. You can easily avoid costly mistakes like hiring the wrong contractor, not knowing your comps or market or not knowing how to find buyers.
Sign up for a free coaching session with me
What do you need to get started?
- Money (Your Money or Other People’s Money)
- General Contractor (for renovations)
- Real Estate Agent (Sell and write up contracts)
You can make great cash flow by buying rentals. There are many different ways you can make money with rentals.
Renting Out A Room
If you rent or own a home and want to make some more money you can rent out a room in your house.
If you are renting make sure your landlord allows you to rent it out.
Buying a Duplex
You can buy a duplex and live in one side while you make income off renting the other side out to someone else.
You can rent out a room or your entire home through AirBnB. You can charge a higher nightly fee through AirBnB as people will spend more money on vacation rentals.
You can make great cashflow by buying multi-family properties such as a triplex, ten-plex or apartment buildings for an example. Any property where more than one family lives is considered a multifamily.
Real Estate Investor
Did you know that you can invest your money in real estate without having to deal with all the day to day headaches like fixing and flipping, being a landlord or trying to find buyers and sellers? Yes it’s true. If you have extra money that you want to invest your can find real estate capital firms that will put your money into great portfolios that can make you money without you having to do anything at all.
If you are interested in making money without doing any of the work you can reach out to me to learn more.
My key takeaways to getting started in real estate is to find a mentor, start networking and add buyers, sellers, real estate agents and investors to your list and educate yourself on everything real estate related.
If you are starting out in real estate and want to learn more about the real estate industry from others doing exactly the same as you join my free FB group Real Estate Property Warriors
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Now that you have learned how to get started in real estate which avenue will work best for you?
Comment your answer below.