The million dollar question is how to build wealth by investing in real estate.
The simple answer is to learn from people who are actually earning revenue streams from their real estate portfolio, what I’m saying is, only take advice from those who know how to accomplish what you’re attempting to do! Yes, it’s that simple. The worst thing a prospective real estate investor can do is listen to family, friends and others that influence their lives that have never earned a single penny from investing with income properties. Don’t fall into the trap of taking advice from people who are just as broke as you are! Don’t do it to yourself, you deserve better! Learn only from those who are at an income level you want to be and ask as many questions as you can.
In the event most people who aspire to learn don’t have access to those who are successful in the endeavour that you want to learn, thats ok, there’s opportunity for you to learn as well. The first step is to read and research online from credible sources and absorb the information at your own pace, don’t rush the process, take in the information and process it at a pace you’re comfortable with.
The second piece of advice is to speak to the resources that are available to you, people like accountants, lawyers and commercial Realtors, these professionals will guide you through and give you helpful tips. Property managers are also a great resource as they will teach you how to nurture the relationships with tenants and how to increase cash flows. Finding these types of professionals are easy, just attend as many income or real estate investment seminars as you can, stay away from webinars who are looking to make a fast buck with a get rich scam. Best practise is to attend seminars in person as this will allow you to better assess the value of the content that they are teaching, plus it gives you instant access to the pro’s that do this for a living.
Information is key and the more you allow yourself to become a sponge and absorb the right information the better off you will be going forward with your investment aspirations.