Investing in
Real Estate is no joke. It is a serious business that is filled with some of
the most experience people. When investing, be sure to take it seriously,
otherwise you risk damaging opportunities before you even get started.
Mistake #5 –
Take it seriously. This cannot be a hobby. Be sure to start by putting business
cards everywhere and anywhere – bulletin boards in coffee shops, garages,
anywhere you can pin them for free. Websites, blogs and articles are one of the
most effective ways of getting your name out there an building a brand. Connect
with others via social media like Facebook, LinkedIn and Twitter. Be sure to
set up an LLC and get a Federal Tax ID number. I tell many of my prospective
clients to look into also opening a business checking account.
Mistake #4 – Not being well educated. Education is key.
Investing can’t end with your first purchase. Get ahead of new trends and
strategies that are being used in the business. Read blogs, websites, and books
on real estate investing.
Mistake #3 – Statistics show that 92% of all
sales start online. Create a website and use the internet to search for new
leads and opportunities. It’s free- why not use it? Many forget that technology
is leading the world of Real Estate investing. It’s a great resource to use.
Mistake #2- Real Estate Agents aren’t the
enemy to you, even if you think they are. One mistake many people make is that
they don’t use an agent because they think their only involved for the
commission. They are good at uncovering opportunities in their daily business
since it is, well, their business. Although there is a commission fee involved,
many times it’s worth it to pay. Find the right agent who understands what
you’re trying to do and can help with questions you might have.
Mistake #1- Not being well-versed with the media. Media of
all kinds, whether it be social media or TV, print, etc. is one of the most
credible sources for many looking to invest in Real Estate. Try reaching out to
a local establishment and see what they can do to help you.
Are you
a real estate investor? What tips do you have for the readers? Leave a comment!
Your Local San Diego Real Estate Expert,
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