3 Real Estate Investment Tips For Beginners
Real estate investment has always been popular way to build wealth if know what you are doing. Here are 3 real estate investment tips for beginners.
Hi Trish Davies, here from TishDaviesInternational.com & BuyingUsaRealEstate.com. Real estate investment has literally changed my life over the last 15 years and created a financial firewall around myself and my family. It is a journey that started way back in 2005 and a strategy that enabled me to escape corporate life.
Corporate life cam about through tragic circumstances through the loss of my husband and father to my daughter. Through hard work and dedication, I trained to become a corporate accountant but by 2005 I realised it wasn’t the life for me.
Basically, I didn’t like being dictated to by managers and bosses and hated the 9-5 days in the office. I say 9-5 but usually it meant working longer and out of those parameters.
Therefore, I looked at real estate investment as I had always understood the power of investing in bricks and mortar. With that in mind I started on my real estate investment journey and want to share with you 3 real estate investment tips for beginners.
Real Estate Investment Tips For Beginners
To build up such a substantial property portfolio as I have does take time, dedication, and belief. As with any industry you must know the strategies, tactics, and legal ramifications to become successful. I do have an extensive training program that is built upon my success which I will cover shortly.
For now, though I want to share with you some fundamental real estate investment tips for beginners. Tips that will give you a firm foundation to start your real estate investment journey. They are as follows.
- Have A Purpose
- Get A Mentor
- Build A Team Around You
Have A Purpose
You must have a purpose to start investing in real estate. For myself it was very simple as I wanted to create that financial firewall around myself and my daughter. I wanted to build that security, so we didn’t have to worry about not having enough income.
Real estate enables you to create that financial firewall because you always have the investment in place. Yes the market can fluctuate but your money is always there in the bricks and mortar.
What real estate investment allows you to do is build passive income streams through rental income. Therefore, your money is working for you rather than you working for your money. This means that when your properties are rented out you have a steady cash flow business.
This is how I have built my financial firewall by repeatedly investing in properties that generate income for me. So, I fulfilled my purpose of starting on this real estate investment journey which is still very much alive to this day.
Get A Mentor
Going into this industry a little bit green so to speak I quickly understood the need to find a mentor. It was in 2005 that I came across the opportunity to start investing in real estate through a wealth network.
In essence it was an opportunity for Australians to invest in the USA real estate industry. The network was coached by a very successful real estate entrepreneur, so I became one of her students.
I can’t express the importance enough in gaining mentorship from successful people. Your investment comes back to you many times over as you shorten your learning curve. You don’t make the fundamental mistakes you would if you went forward on your own.
That is why I created my own mentoring program to help you avoid many of the pitfalls within this industry. To help you get to where you want to be in the shortest amount of time possible.
Build A Team Around You
You must understand that you simply can’t build a successful property portfolio on your own. Having a team around you is a must especially if your property investment business is overseas as mine is. I live in Tasmania, but my property investment business is mainly in the USA although I do have investments in my own country.
My team is based in the USA and they are there to handle all day to day running of my business. I delegate to them, but I still have control over the business which enables me to focus my time on other business interests.
A team takes that pressure of your shoulders and it ensures that day to day operations run smoothly. I am in constant contact with them but trust them implicitly. When you build a team, you create leverage both in time and effort as the saying goes, “many hands make light work”!
Real Estate Renovations For Profit | 70s House Renovation
So, there are my 3 real estate investment tips for beginners, but I want to let you into my world for a few minutes. Three months ago, I relocated from mainland Australia to Tasmania to be nearer my elderly parents.
I had already purchased a property there and it hand been rented out, but the opportunity arose to relocate. So, I took it and over the last 3 months I have been doing some extensive renovations on the property. It is still a work in progress, but I am getting there each days that passes. Below is a video on the latest progress so you can see that I am really in the trenches.
My real estate investment program has many real estate investment tips for beginners. Check that out here and if there is anything you need more clarification on then please contact me here.
A life of freedom and choice
Trish Davies
Trish Davies International
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