We often avoid starting career in real estate investment because there are constantly fluctuations in this business. Rod Kagy shared some common ways to start a career and grow in real estate investments.
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2. Don’t wait for the right time
Much like the stock
market, in real estate
we’re always skulking
and waiting, ready to
pounce on what we
believe is the
perfect time to jump
into the market.
3. Start out simple. Buy one or a few properties and go from there.
The earlier you begin investing, the sooner your properties will
begin to appreciate and, in turn, provide you with more capital
to start your next venture.
4. Start bigger, sooner
It’s perfectly fine to begin
investing in smaller, low-end
properties -- but that’s not
how you build an empire. As
soon as you have the hang of
investing, don’t hesitate
when it comes to acquiring
larger properties. Larger
assets tend to appreciate
faster and can be more
beneficial to your portfolio as
opposed to smaller, cheaper
properties.
5. Invest using a self-directed individual
retirement account (IRA)
As an investor and entrepreneur,
you should always be on the
lookout for ways outside the
obvious to improve your return.
When using personal funds to
invest, the best way to do it is
through a self-directed IRA.
By investing through an IRA, you can avoid using your taxed
income. Most banks have this option, so it’s best to speak with a
financial advisor before diving in head first with this kind of
investment -- and remember to leave yourself with something
for retirement.
6. Save yourself some trouble and remember these rules
along with the basics when you’re in the beginning
stages of real estate investment. With so many details
to consider, these simple rules can easily be
overlooked.