It is sometimes difficult to get started in the real estate world when you do not know exactly what works or not, the mistakes to avoid, etc. So Joseph Grinkorn has put together the methods that he has learned from personal experiences and from his discussions with different investors (who each have a different approach).
I share with you today 7 tips for getting started in real estate because I see a lot of people who invest in real estate and make mistakes that can cost them dearly.
Choose your strategy: invest your time or invest your money?
In real estate investing, there are different types of approaches, which makes it quite complex. However, there are 2 main distinctions to make: do the work yourself or just invest your money. If you choose to do the work yourself, be prepared to make personal sacrifices, on your weekends or evenings. On the other hand, if you prefer to borrow money and delegate the work, the cost of the investment may be higher and you will have to convince your bank to follow you.
Create a team
Investing is a sport! Investing alone is the best way to plant yourself.
So create your team! Surround yourself with people who can advise or alert you on the details to take into account: investors, notaries, real estate agents, artisans, bankers, brokers and especially other investors like you!
Of course, you are not going to create your team before investing, do it along the way. And think about creating a long-term relationship with the people you choose; people with whom you get along well and above all competent people.
You are going to have your team set up after your first or second investment. You will also realize that the following investments will be much easier because everything is already in place. The only effort will be to find a new property and not to find people to help you.
So try to create your team! Do not hesitate to approach the people with whom you are collaborating for the first time and to say to them: “Joseph Grinkorn would like his next investments to be made with you! He is here for a long term relationship”. People will be more involved in his project.
Many people start off on their own at the start. It can work if they have the desire and the time to train on their own. On the other hand, many people also make mistakes because they did not take the time to train: they badly negotiated the good, they bought it too expensive, they made the wrong choice of taxation. So, learn to invest. Generally, even if you have never invested, your first investment will be successful if you are well trained.
Many people consider that it will happen naturally, but it is precisely by doing this that you will make a lot of mistakes. So learn! Once you have acquired a solid foundation, you will be able to talk confidently with your contacts and understand everything about real estate.
In this environment, many people do not understand real estate investment and others are “incompetent”. Hence the importance of being well surrounded, in order to be able to ask the right questions to investors and to be able to move forward with peace of mind. Here are the tips to get started in real estate. Follow Joseph Grinkorn and you will make good real estate investments. This will guarantee your financial security and freedom. You will create a heritage, quickly or quietly depending on the investments you make, but at least you get rich! Take charge of your financial future! It’s the key to freedom and life that we really want. You will not have to exchange your time for money and you will be happier.