Okay, so you finally decided to make the move to get into investing in real estate. You need to know where to start and what the most immediate tools are for you as a new investor.
Let’s look at the Internet.
Internet allows you to do all the research that you would basically spend days, or in some cases even weeks doing on” foot.” You could go ahead and spend your time going through and shopping through the local newspaper for handyman, contractors, and real estate agents or maybe even take some time thumbing through the Yellow Pages, letting your fingers do the walking.
The Internet allows you to do all of these things in a far shorter time, as well as give you an interactive result for any questions you may have. Let’s say that you want to go ahead and contact a real estate agent that you found on the Internet. You have the option of either sending them an e-mail, or more often than not you have a direct phone number to contact them and get your questions answered. The Internet can save you so much more time as a new real estate investor. It’s absolutely an obscene in comparison to how we did things as investors prior to it coming along. Make 100% utilization of the Internet; make sure that you’re on it, doing your research.
Building your team
The Internet allows the new real estate investor to build a team and get first-hand knowledge of the areas that they want to do investing in. For example let’s say that you live in Los Angeles, but want to invest in a small community in Houston. Now you have two options here. You can do with the tried-and-true method. Ask around wait for a response from someone that could possibly recommend someone to you in Houston. Or you could go right ahead log online and start looking for real estate agents. In that particular area that you looking to invest in.
My suggestion however is not to do either one. My suggestion would be to log on to the Internet. Look for real estate investing groups in the geographical location that you want to invest in. Why do you want look for real estate investment groups. Simply put, Word-of-mouth. THIS IS OF VALUE to you. You won’t have to necessarily walk into dealing with someone in that area of the country that you’ve never met. You can read reviews, hear firsthand accounts. Talk to people who have worked with them, and more often than not, get feedback. Ask questions, post questions on a local blogger forum section of that part of the country.
Continuing with doing your research and building your team using the Internet.
The internet has countless resources on it that a real estate investor can use. Mortgage Calculators, track interest rates, network with investors in your area of interest…as well as other areas of investing you may consider working in. You can find real estate investment groups from all over the country, as well as local real estate investment groups in your same area. You can literally find and interview new candidates for the skills that you’ll need to do your investments. Whether that’s a plumber, mortgage broker, real estate agent, or landscaper.
Let’s briefly discuss networking online.
You can login to one of the popular social networking sites such as Face book or MySpace, and look there for real estate investment blogs, groups or just to talk to other investors. Or, as previously mentioned, you can find real estate investing clubs and groups both in your local area as well as across the country. No matter how you do your networking don’t underestimate the value of it. Okay, let’s say that you’ve been thinking about getting into commercial real estate, but have no knowledge of how to do so. By doing your homework and networking you can find a vast amount of individuals who can help you get into commercial real estate investing and/or any of the side ventures thereof. Amber Sea