Grand Real Estate Investments
It’s a question that I’m asked all the time: How did I get started in real estate investing? What does it take to become a real estate investor?
Over the last 15 years of focusing on real estate in Eugene, it’s been a bumpy road, but I’m going to take the lessons in real estate investing I’ve learned and pass along three primary things to think about if you’re interested in becoming a real estate investor.
Real Estate Investing Tip #1: What Are My Objectives?
The first thing I would think about if I’m going to become a real estate investor is, what are my objectives? This is something that I didn’t necessarily think about early in real estate investing. I didn’t have clarity on what I was trying to achieve and what I wanted to happen year over year.
Gaining clarity on your objectives begins with the kind of investments you’re comfortable making. Single family, multi-family, and commercial real estate investing have different paths and objectives.
Real Estate Investing Tip #2: Protocol
The second thing that you want to do is understand the protocol for each one of those objectives. So if you want to invest in single family residences, then you would want to know what the protocol is in order to do that.
A single family residence can have one of two different ways for example. You could put money down, buy a house, and then watch the cashflow come in by becoming a passive investor. Or you could get more involved as an active investor, which uses different strategies and protocols.
A very good example of that protocol would be what we call the BRRRR method, which is buy, rehab, rent, refinance, and repeat. That’s got its own protocol that you would go through and understand.
Real Estate Investing Tip #2: Have a Guide
The third thing would be to have a guide and there’s a lot of different ways you can do that. You can find a lot of great books, you can find a lot of great online information, or you can even come to a company like Grand Real Estate Investments and say, “Hey, I want to invest in real estate, and here’s what I’m thinking.” We would walk you through that whole process of defining your objectives and lay out how we would accomplish that.
The guide is probably the most important out of all of them in order to compress your timeframe so you can achieve in just a couple of years, what it took me and Grand Real Estate Investments to achieve inside of 15 years.
If you’re interested in learning to become a real estate investor, leave us your information below, and you’ll get a free PDF that goes over the top three things that you need to do, as well as a few other things that you can do, to become a real estate investor and to compress those timeframes down.