Almost all investors know this little-kept secret: real estate investing is one of the most lucrative and trustworthy forms of investing and wealth accumulation out there. The numbers tell us that home values are on the rise, and that more investors are choosing real estate over the stock market. This means amongst investors, it’s likely you’ll see increased competition, as more and more people enter the field. If you’re a newer real estate investor, or you’re looking to brush up on your real estate investing strategies, we’ve got you covered. We sat down with Winston Deloney, a real estate investor and entrepreneur. Now, Deloney is sharing his real estate investing strategies you need to know, with this expert advice.
- If you have less capital on-hand, try wholesaling
Wholesaling is a popular real estate investment approach, which doesn’t involve actually financing the purchase of a property. Instead, the investor acts as a “middleman,” finding properties on the market, and then finding buyers who want them, for a markup. The trick with good wholesaling is that it takes more marketing skills, as well as negotiation abilities. Wholesaling could be a great way to get introduced to real estate if you don’t want to actually finance a property, or if you’re looking for a way to diversify your investments.
- House flipping can also be relatively accessible
Finding a good deal on a fixer-upper, and then putting in the work to make it beautiful can be a rewarding process, both emotionally and financially. House flipping involves finding good deals on homes that need work, and the thing to keep in mind is how much work, and how much it’ll cost. Ideally, you’ll be working on homes which only need cosmetic repairs, as opposed to costly fundamental work. It can be tough to know what you’ll find when you start doing repairs on a property, so you want to inspect it as closely as possible, to make sure there are no expensive surprises lurking underneath.
- You can live in an investment property and also earn income on it
Especially if you’re just starting out, this can be a great strategy to help you earn income while investing and lowering your cost of living. Plus, you can figure out the best practices for being a landlord, firsthand. You can live in a property if it’s an apartment with multiple units, for example, or even if you have a rentable portion of a home, like a basement or attic apartment. You can live in it short or long term, but either way, it’s a great practice to lower your overhead and learn the ropes at the same time.
- There are different strategies to finance properties
When you’re looking to finance your investment property, there are several different avenues you can take. There are of course, traditional lending institutions, which can be good options, but can also take a long time to process. There are also alternative lending options, such as hard money loans, which may be more appropriate for your investment. The point is, you should look at all your financing options, because it’s very likely a financial solution is within reach. And if you are looking for the latest news about trends in the world of real estate, you can connect with Winston Deloney on social media.
2018 ·