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Investor Tools and Resources
The first step of the Real Estate Investing Process is to determine your goal. This is a much over-looked critical first step along the path of success. Many rookie real estate investors begin their journey by determining what strategy or technique that they want to use before even formalizing their goal for what they are trying to accomplish. Ask yourself the following, what is my goal?
Is it to:
- Profit from Cash Flow
- Generate Quick Cash
- Shelter Cash from Taxes
- Diversify Assets
- Build Toward Retirement
Depending on your goal, your next step is to choose a strategy. The strategy you choose will depend on your time-line and on your qualifications. For example, if you desire to acquire one rental property a year for the next 20 years in hopes of retiring and living off of the cash-flow, then you will need a slow, predictable, and safe methodology for finding properties, acquiring properties, and managing properties. You will also need cash for reserves, a down-payment, and maintenance.
However, if your goal is develop quick cash to facilitate larger purchases or to finance rehabs, then you may want to investigate and pursue wholesaling real estate. In which case, you won't need any qualifications except for hustle, hard work, and perseverance. The following is a list of a few strategies used in the Real Estate Investing Process:
- Foreclosures
- Buy and Hold Single Family Homes
- Multi-Family and Apartment Buildings
- Commercial Real Estate
- Wholesaling
This is not an inclusive list. There are many more strategies that can be pursued as part of the real estate investing process. The market conditions present throughout the majority of the United States are revealing opportunity on virtually every street in almost every city.
Many real estate experts agree that the next two years will remain as the best opportunity to buy real estate at premium prices since the Great Depression.
