Thinking of becoming a real estate investor? We definitely understand why.
Although most real estate investment options require a lot of startup cash, they almost always make a profit. So many investors now realize the long-term, inflation-safe reliability of real estate investing.
The question is, how do you get started? Actually, you already have.
Right now, you're reading a comprehensive, step-by-step guide on how to become a real estate investor. And it may surprise you to learn, there are a lot of different ways to do this. Discover how to get your own slice of the real estate market—or several slices—by reading this guide.
1. Low-Cost REITs
It's an extremely common assumption that you need tens of thousands of dollars to get started with property investing. That's only true if you invest as the sole owner, one property at a time.
Alternatively, you can invest what little you have into REITs (real estate investment trusts). Technically, you won't actually be investing in real estate. You'll be investing in the investors who own and profit from commercial real estate.
Still, it's a low-cost way to get your foot in the real estate investing door. And the dividends usually pay out very well.
2. Lend to Builders
Another way to invest in St Paul real estate is through online lending platforms. There are already several real estate developers seeking investors to help them fund their projects.
This is a long-term investment option that usually requires a decent amount of startup cash. And there's a high amount of risk involved, too.
3. Buy an Occupied Property
Getting tenants is often difficult, especially for novice landlords. Why not get a property that already has tenants?
Simply look for and purchase an occupied rental property. (Yes, they're listed).
Then, you're already making money right from the start. And you'll continue making money while the property appreciates.
Just be sure to thoroughly research the property and the tenants. You want tenants who are completely settled in and whose leases have many months left.
4. Rent Out Your Own House
You can also rent your own house out to get started. Move into a different (affordable) property while you list yours for rent. Use the rent money to save up for your next investment property.
5. Fix and Flip
Lastly, there's always the tried-and-true method of fixing and flipping houses. This is where you buy a fixer-upper at a low price, then fix it up and sell it at a high price. Of course, it might be more profitable to rent out your fixed-up house instead of selling it right away.
Become a Real Estate Investor With These Steps
Real estate investing can be the career of your dreams. To make this dream come true, follow these steps and become a real estate investor.
Also, make sure you have the professional property management help you need for your rentals. Fill out the form on this page to get a quote/schedule your consultation with 33rd Company Property Management.