I am here to share my experience and to provide some tactic tools and strategies as you anticipate for your most awaited first multifamily deal. This is the exact same process I followed, I just fine-tune it, refined it throughout the journey on the multifamily side but now it’s to a point where just doing small tweaks at this moment, so I'm just going to share what I’ve done up until this point.
Today, more and more people are now doing the big switch from single-family to multifamily real estate property investing. This is because multifamily investing is more promising in terms of value, competition as well as the return on investment.
On the other hand, shifting to another investment opportunity is not as easy as you think. I can attest to that. The road to success wasn’t easy. I had encountered a lot of setbacks and mistakes before I finally learned the ropes of it.
To succeed in the real estate industry or any other niche out there from what I’ve seen, it is essential that you want to be investing in the right tools and materials but other than that, I’d say yourself is the most worthwhile investment. Why do I say this? For me investing in myself is something that has helped me to reach where I am today.
As I have alluded to, I have made more mistakes in the past compared to my successes, but I always make it a point to learn from them. During that time, one of the most effective methods I’ve found when conducting real estate deals is the direct-to-seller approach. Using this method, you will have the highest chance to close a deal with the best terms for you and the seller.
The real estate industry is very inviting, just think of the opportunities and hefty income that you can get if done right. On the other hand, people tend to have difficulty deciding if they are going to jump in or not. Entering this industry is not easy for the reason that aside from the things that one needs to know or familiarize, having the right mind-set is definitely should be the main priority.
In this article, I will be sharing my thoughts, mindset, and experience as I go through the real estate investing journey. Having a proper mindset is I think very important especially if you want to succeed in life in this competitive industry.
Are you planning to expand in a new real estate market or neighborhood? Since the real estate market is depending on several factors such as economic conditions, interest rates and trends, it’s hard to tell when the best time to expand is. On the other hand, with the right strategies and approaches, it would just be easier for you to try other markets that can boost your chance.
When investing in rental properties, I learned through my journey that I should not just focus on how I can make money on my investment. Yes, they are a good source of passive income, but you should also prepare or anticipate yourself from the expenses that may come in the future. I think that sharing these from my own experience gives more value to future investors like you.
Why are off-market usually the most preferred properties among real estate investors?
There are varied reasons why many investors prefer off-market deals such as competitive edge, having more time to look over the properties and flexible negotiations. In this article, I will be providing the ultimate steps that had helped me succeed in obtaining off-market deals. All the apartments I’ve purchased have been direct to owner. Hopefully, this will help you learn, and it would be easier for you to get great off-market deals.
Getting started in real estate investing is hard, especially if you don’t have the experience and knowledge. That is why many individuals who want to take the plunge in the real estate investing are having second thoughts. Mostly, they have this thinking that they will start investing once they have enough capital and experience in the industry, which can be resulting in starting at a later age or derailed plans.
Starting in the real estate industry isn’t an easy endeavor as they make it out to be on the TV shows. Equipping yourself with the right information that you can use to learn and move up from a novice in the industry sooner or later speaking from experience. You can have the best books, forums, e-books, and advice from the seasoned real estate experts, but you cannot gauge your success until you apply it in the real situation.
