You{'ve| have actually} {heard|listened to} that {investing in|purchasing|buying} {real estate|realty|property} can be {very|extremely|really} {lucrative|profitable|rewarding|financially rewarding}. {Before|Prior to} you {get started|start|begin|get going}, {here|right here|below} are {seven|7} {questions|concerns|inquiries} to ask {yourself|on your own}.

1. Is this {a hobby|a pastime|a leisure activity} or {a business|a company|a service|an organisation}?
Ask {yourself|on your own} why you {want to|wish to|intend to} {invest in|purchase|buy} {real estate|realty|property}.
- Do you {want|desire} {another|one more|an additional} {income|earnings|revenue} stream
- Do you {want to|wish to|intend to} {build|develop|construct} equity in {a house|a home|a residence}
- {How many|The number of|The amount of} {sellers|vendors} {and|as well as|and also} {buyers|purchasers|customers} do you {want to|wish to|intend to} {speak with|talk with|talk to|speak to|consult with} each day/week/month
- {How much|Just how much} time do you {have to|need to} {invest in|purchase|buy} {real estate|realty|property}
- Are you {working|functioning} {a full time|a full-time} {job|task|work}
- Are you retired {looking for|searching for|trying to find|seeking} {additional|extra|added} {income|earnings|revenue}
- What do you {want to|wish to|intend to} {do with|finish with|make with|perform with} your time?
If you {want to|wish to|intend to} {build|develop|construct} {a real estate|a realty|a property} {investing|spending} {business|company|service|organisation}, {then|after that} you {need|require} to treat it like {a business|a company|a service|an organisation}.

Are you {going to|mosting likely to} be {a landlord|a property owner|a property manager|a proprietor}? {Then|After that} you {need|require} to {determine|identify|figure out|establish} {how much|just how much} time you {want to|wish to|intend to} {spend|invest} {collecting|gathering|accumulating} {rent|lease|rental fee}, {maintaining|preserving|keeping} the {property|residential or commercial property|home|residential property|building}, making {repairs|repair work|repair services|fixings}, {answering|responding to|addressing} {tenant|renter|occupant|lessee} calls late {at night|in the evening|during the night}, {etc|and so on}

. Or have {a property|a residential or commercial property|a home|a residential property|a building} {management|administration|monitoring} {company|business|firm} {handle|deal with|manage|take care of} the {tenants|renters|occupants|lessees} {and|as well as|and also} {maintenance|upkeep}? {Then|After that} you {need|require} to {determine|identify|establish} {who|that} you {will|will certainly} {hire|employ|work with} to {manage|handle} your {property|residential or commercial property|home|residential property|building} {and|as well as|and also} {how much|just how much} you {will|will certainly} pay them. {Typically|Generally|Usually|Normally|Commonly} {a property|a residential or commercial property|a home|a residential property|a building} {management|administration|monitoring} {company|business|firm} {will|will certainly} {charge|bill} one month's {rent|lease|rental fee} to {locate|find|situate} {a tenant|a renter|an occupant|a lessee} {and then|and after that|and afterwards} {charge|bill} 8% -10% of the {monthly|regular monthly|month-to-month} {rent|lease|rental fee} for {collecting|gathering|accumulating} the {rent|lease|rental fee} {and|as well as|and also} {answering|responding to|addressing} all {calls|phone calls|telephone calls} from the {tenant|renter|occupant|lessee}. You still {need|require} to {set aside|reserve|allot} {a reserve|a book|a get} fund for {maintenance|upkeep}.

{Maybe|Perhaps|Possibly} you {don't|do not} {want to|wish to|intend to} be {a landlord|a property owner|a property manager|a proprietor} {and|as well as|and also} you {want to|wish to|intend to} wholesale {property|residential or commercial property|home|residential property|building}. {Then|After that} you {need|require} to {develop|establish|create} {a buyer|a purchaser|a customer}'s {list|listing|checklist} of {buyers|purchasers|customers} {who|that} have the {cash|money|cash money} to {purchase|buy|acquire} {the house|your home|your house}. You {will|will certainly} still {need|require} to {work with|deal with|collaborate with} {sellers|vendors} to {locate|find|situate} {properties|residential or commercial properties|homes|residential properties|buildings}, {get|obtain} it under {contract|agreement}. You {then|after that} {need|require} to {get|obtain} your wholesale {buyer|purchaser|customer} to {sign|authorize} the {assignment|project|task|job} of {contract|agreement}. {And|As well as|And also} you {have to|need to} {make sure|ensure|make certain|see to it} you {follow|comply with|adhere to} up with the closing {agent|representative} to {make sure|ensure|make certain|see to it} the {deal|offer|bargain} is {funded|moneyed} by the wholesale {buyer|purchaser|customer} {and|as well as|and also} the {deal|offer|bargain} {closes|shuts}. You {will|will certainly} {get|obtain} your {assignment|project|task|job} {fee|charge|cost} once the {deal|offer|bargain} {closes|shuts}.

{Here|Right here|Below} are the {questions|concerns|inquiries} you {need|require} to ask {yourself|on your own}.
- Do you {want to|wish to|intend to} be {a landlord|a property owner|a property manager|a proprietor}
- {How much|Just how much} time do you {want to|wish to|intend to} {put into|take into} {real estate|realty|property} investing
- Do you {want to|wish to|intend to} {build|develop|construct} {a business|a company|a service|an organisation} or {just|simply} make some {extra money|additional money|money} {once in a while|from time to time|every so often|every now and then|occasionally}

2. Do you {want to|wish to|intend to} {work|function} {directly|straight} with {sellers|vendors}?
There are {many|numerous|lots of|several} {investors|financiers|capitalists} {who|that} {want to|wish to|intend to} {get into|enter into|enter|get involved in} the {real estate|realty|property} {investing|spending} {business|company|service|organisation} {who|that} {don|put on|wear}' t have {prior|previous} sales experience. Yes, you can call {homeowners|property owners|house owners|home owners} {directly|straight} {and|as well as|and also} {negotiate|work out|discuss|bargain} the {purchase|acquisition} of their {home|house|residence}, it is {possible|feasible}. It's {even|also} {easier|simpler|much easier|less complicated} when you are {speaking with|talking with|talking to|speaking to|consulting with} {a motivated|an inspired|a determined} {seller|vendor}. I {mean|imply|indicate|suggest} {a seller|a vendor} that is {really|truly|actually} {motivated|inspired|encouraged} to {sell|offer|market}, not {someone|somebody|a person} {who|that} {wants to|wishes to|intends to} {sell|offer|market}, {wants|desires} {full|complete} {price|cost|rate} for their {home|house|residence} {and|as well as|and also} {just|simply} {doesn't|does not} {want to|wish to|intend to} {wait for|wait on|await} the all {cash|money|cash money} {buyer|purchaser|customer} that {will|will certainly} pay {retail price|list price|market price}.

Are you {someone|somebody|a person} that {wants to|wishes to|intends to} {help|assist|aid} these {motivated|inspired|determined} {sellers|vendors}? Do you have it in you to hear their {stories|tales} over {and|as well as|and also} over? {Some of|A few of|Several of} these {sellers|vendors} {will|will certainly} {break|damage} your heart {and|as well as|and also} you {will|will certainly} {want to|wish to|intend to} {help|assist|aid} them. You {have to|need to} {make sure|ensure|make certain|see to it} that you {only|just} {work with|deal with|collaborate with} those that you can {help|assist|aid} {and|as well as|and also} {make a profit|earn a profit} {for yourself|on your own}. {Just because|Even if} {someone|somebody|a person} {is willing|wants|agrees} to deed you their {house|home|residence} does not {mean|imply|indicate|suggest} it is {a good deal|a bargain}.

{Think about|Consider|Think of} {a situation|a circumstance|a scenario} where the {seller|vendor} has {two|2} {mortgages|home loans|home mortgages}, judgments, {and|as well as|and also} liens on the {property|residential or commercial property|home|residential property|building}. Yes, you can {work|function} this as {a short|a brief} sale {and|as well as|and also} {get|obtain} the liens {removed|eliminated|got rid of} {and|as well as|and also} {negotiate|work out|discuss|bargain} with the {lender|loan provider|lending institution} to {get|obtain} {a smaller|a smaller sized} {settlement|negotiation} for the {payoff|reward|benefit|payback} of the {mortgage|home loan|home mortgage}. You {need|require} to {decide|choose|make a decision|determine} if you {want to|wish to|intend to} {put in|place in} {the time|the moment} {and|as well as|and also} {effort|initiative} it {takes to|requires to} {negotiate|work out|discuss|bargain} the {short|brief} sale {and|as well as|and also} {get|obtain} the liens {removed|eliminated|got rid of}. I {have|have actually} seen {investors|financiers|capitalists} in the {short|brief} sale {negotiation|settlement|arrangement} {process|procedure} with the {lender|loan provider|lending institution} for anywhere from 2 months to 18 months. Do you {want|desire} wait months to {close the deal|seal the deal}?

You {need|require} to {decide|choose|make a decision|determine} if you {want to|wish to|intend to} {work|function} {directly|straight} with {homeowners|property owners|house owners|home owners} or have {someone|somebody|a person} {handle|manage} this for you.

3. Do you {want to|wish to|intend to} {work|function} {directly|straight} with {buyers|purchasers|customers}?
{Once|When|As soon as} you have {a house|a home|a residence} under {contract|agreement}, it is time for you to {find|discover|locate} your {buyer|purchaser|customer}. {The best|The very best|The most effective} {thing|point} you can do is to {build|develop|construct} {a buyers|a purchasers|a customers} {list|listing|checklist} {before|prior to} you have {a property|a residential or commercial property|a home|a residential property|a building}. {Find out|Discover|Learn|Figure out} where the {buyers|purchasers|customers} {want to|wish to|intend to} live, {then|after that} go {find|discover|locate} {a house|a home|a residence} {in that|because} {area|location}. It is {much easier|a lot easier} to {find|discover|locate} {a house|a home|a residence} for {a buyer|a purchaser|a customer} than it is to {find|discover|locate} {a buyer|a purchaser|a customer} for {a house|a home|a residence}.

Do you {want to|wish to|intend to} take {calls|phone calls|telephone calls} from the {buyers|purchasers|customers}? They call {at all|whatsoever|in any way|in all} {hours|hrs}, while you are having {dinner|supper}, {before|prior to} you {wake up|get up|awaken} in the {morning|early morning}, when you are driving to {work|function}, {etc|and so on}. Are you {willing to|ready to|happy to|going to} {drop|go down} {everything|whatever|every little thing} you are doing to take {a call|a phone call|a telephone call} from {a buyer|a purchaser|a customer}?

4. Where are you going to {get|obtain} {the money|the cash}?
This {is one of|is among|is just one of} the {biggest|most significant|greatest|largest} {concerns|issues|worries|problems} of all {real estate investors|investor}, where to {get|obtain} {the money|the cash}.

Yes, you can {buy|purchase|get|acquire} {a house|a home|a residence} with little of your {own|very own} {money|cash|loan}. {Some of|A few of|Several of} the {techniques|methods|strategies} to do this are:
- {Buy|Purchase|Get|Acquire} {the house|your home|your house} subject-to the existing {mortgage|home loan|home mortgage}
- Have the {seller|vendor} carryback the {financing|funding} in the {form|type|kind} of a note
- Lease/Option {the house|your home|your house}

You can {also|likewise|additionally} {build|develop|construct} {relationships|connections|partnerships} with {other people|other individuals} {who|that} have {money|cash|loan}, such as
- {Private|Personal|Exclusive} {lenders|loan providers|lending institutions}
- Hard {Money|Cash|Loan} Lenders
- {Mortgage|Home loan|Home mortgage} Brokers

The {biggest|most significant|greatest|largest} {money|cash|loan} {concern|issue|worry|problem} that you {never|never ever} {hear about|find out about|become aware of|read about} is where to {get|obtain} {the money|the cash} to market your {business|company|service|organisation}. You can {buy|purchase|get|acquire} {a house|a home|a residence} subject-to the existing {mortgage|home loan|home mortgage}. {But|However|Yet} {how|exactly how|just how} do you {find|discover|locate} that {house|home|residence}? You {have to|need to} {continue to|remain to} MARKET, MARKET, MARKET.

{Marketing|Advertising|Advertising and marketing} {costs|sets you back} {money|cash|loan}. That is what {most of|the majority of|a lot of} the {gurus|experts|masters} {forget|fail to remember|neglect} to {tell|inform} you. You {hear|listen to} {all about|everything about} {how|exactly how|just how} you can {buy|purchase|get|acquire} {a house|a home|a residence} {with no|without any|without} {money|cash|loan} down or little {money|cash|loan} down. What they {don't|do not} {tell|inform} you is that you {have to|need to} {spend|invest} {money|cash|loan} on {marketing|advertising|advertising and marketing} to {find|discover|locate} {the house|your home|your house}, {and|as well as|and also} {money|cash|loan} on {marketing|advertising|advertising and marketing} to {find|discover|locate} the {buyer|purchaser|customer}.

{Before|Prior to} you {get started|start|begin|get going}, {put together|assembled|created} {a marketing|an advertising|an advertising and marketing} {plan|strategy} so you {know|understand|recognize} {how much|just how much} {money|cash|loan} you {need|require} to {get started|start|begin|get going}.

5. Do you {want|desire} {chunks|pieces|portions} of {cash|money|cash money} or {cash flow|capital}?
What is the {reason|factor} you {want to|wish to|intend to} {invest in|purchase|buy} {real estate|realty|property}? Are you {interested in|thinking about|curious about} {getting|obtaining} {chunks|pieces|portions} of {cash|money|cash money}? {Cash Flow|Capital}? Or Both?

What you {want|desire} out of {real|genuine|actual} esate investing {will|will certainly} {help|assist|aid} you {determine|identify|establish} what {type of|kind of|sort of} {real estate|realty|property} {investing|spending} you {want to|wish to|intend to} {get into|enter into|enter|get involved in}.

If you are {looking for|searching for|trying to find|seeking} {chunks|pieces|portions} of {cash|money|cash money}, you have {a couple of|a number of} {choices|options|selections}. {Consider|Think about|Take into consideration} wholesaling or rehabbing ({fix|repair|solution} {and|as well as|and also} flip).

If you are {looking for|searching for|trying to find|seeking} {cash flow|capital}, {consider|think about|take into consideration} landlording, {selling|offering|marketing} {a home|a house|a residence} with {seller|vendor} {financing|funding}, or be {a private|a personal|an exclusive} {lender|loan provider|lending institution}.

6. Where do you {want to|wish to|intend to} {invest|spend}?
{Many|Numerous|Lots of|Several} {investors|financiers|capitalists} {will|will certainly} {start out|begin|start} in their {local|regional|neighborhood} market {because|since|due to the fact that} they {are familiar|recognize|know} with it {and|as well as|and also} they {already|currently} have some {relationships|connections|partnerships} in the {area|location}. It's {easiest|simplest|most convenient} to {start|begin} {local|regional|neighborhood} {since|because|considering that|given that} you {are familiar|recognize|know} with {house|home|residence} {values|worths} {and|as well as|and also} have {access|accessibility} to {local|regional|neighborhood} {experts|professionals|specialists} to {answer|address} your {questions|concerns|inquiries}.

7. What is your {plan|strategy} {to learn more|to find out more|for more information|to get more information|to read more} {about|regarding|concerning} RE investing?
{The most|One of the most} {successful|effective} {real estate investors|investor} are those {who|that} {keep up with|stay up to date with|stay on top of|stay on par with} the {changes|modifications|adjustments} in the {industry|market|sector} {and|as well as|and also} are {constantly|continuously|regularly|frequently} {learning|discovering|finding out} {new|brand-new} {techniques|methods|strategies}.

{One of|Among} {the best|the very best|the most effective} {things|points} you can do is {find|discover|locate} {a local|a regional|a neighborhood} {mentor|coach|advisor}, {someone|somebody|a person} {who|that} is {making money|earning money|generating income} {investing in|purchasing|buying} your {local|regional|neighborhood} market. {Ideally|Preferably} they {should|ought to|must|need to} be {investing in|purchasing|buying} the {area|location} that you {are interested in|have an interest in|want}. If you {want to|wish to|intend to} wholesale {properties|residential or commercial properties|homes|residential properties|buildings}, {find|discover|locate} {a local|a regional|a neighborhood} {investor|financier|capitalist} {who|that} is wholesaling {properties|residential or commercial properties|homes|residential properties|buildings}. Not {only|just} will you {ask them|ask|inquire} to {mentor|coach|advisor} you, {but|however|yet} they {may|might} {buy|purchase|get|acquire} {some of|a few of|several of} your {properties|residential or commercial properties|homes|residential properties|buildings} from you.

If you {are interested in|have an interest in|want} {commercial|industrial|business} {real estate|realty|property}, {then|after that} you {shouldn't|should not} {spend|invest} your time with {an investor|a financier|a capitalist} {who|that} deals {only|just} with {single|solitary} {family|household|family members} {homes|houses|residences}.

{Always|Constantly} {continue to|remain to} {learn about|find out about|discover|learn more about} {Real estate|Realty|Property} investing. There are {many|numerous|lots of|several} {gurus|experts|masters} that {travel|take a trip} the {country|nation} {teaching|mentor|training} {real estate|realty|property} investing. Ask {the people|individuals} at your REIA whose {products|items} they {have|have actually} {purchased|bought|acquired} {and|as well as|and also} {whether or not|whether} it {helped|assisted|aided} them in their {business|company|service|organisation}.

{First|Initially} {determine|identify|figure out|establish} the {niche|specific niche|particular niche} you {want to|wish to|intend to} {work|function} to {get started|start|begin|get going}. {Learn|Discover|Find out} {everything|whatever|every little thing} you can {about|regarding|concerning} that {specific|particular|certain|details} {niche|particular niche} {and|as well as|and also} {create|produce|develop} {income|earnings|revenue} {in that|because} {niche|specific niche|particular niche} {before|prior to} you {move on|proceed|carry on|go on} to the {next|following} {niche|specific niche|particular niche}. {Don't|Do not} {get|obtain} {distracted|sidetracked} by the "{shiny|glossy} {ball|sphere|round}" {syndrome|disorder}.

{Real Estate|Realty|Property} investing can be {very|extremely|really} {lucrative|profitable|rewarding|financially rewarding}. You {need|require} to {create|produce|develop} {a plan|a strategy}, {continue to|remain to} {educate|inform|enlighten} {yourself|on your own}, {and|as well as|and also} {continue to|remain to} market for {sellers|vendors} {and|as well as|and also} {buyers|purchasers|customers}.