Instead, you should treat real estate investments as a “real business”. This is because it requires a lot of work for a successful investor. Investing in real estate can be successful, but doing so alone can be challenging and very risky. Joint ventures, wholesale and property management are just a few of the ways investors can benefit from real estate.
It also takes a little knowledge to succeed in this highly competitive environment. Ninety percent of all millionaires do so through the possession of real estate. More money has been made on real estate than on all industrial investments combined. Today's wise or salaried young man invests his money in real estate.
The most common degree for real estate investors is a bachelor's degree. 64% of real estate investors get that title. A very close second place is the associate's degree with 16% and the master's degree completes it with 9%. Despite the ubiquitous advertisements that claim that real estate investment is an easy way to gain wealth, it is in fact a challenging business that requires experience, planning and focus.
Effective real estate investors often attribute part of their success to others, whether it's a mentor, a lawyer, or a friend who supports them. If you don't know how to develop a viable plan for investing in real estate, buy a book on business plans, take a small business administration course, or better yet, attend my seminars and workshops. Undoubtedly, there are dozens, if not hundreds, of property types and business transactions; the successful real estate investor will be educated with a good overview and then decide on the area of concentration. Since much of real estate investment is based on experiential learning, savvy real estate investors understand the importance of building a network.
Effective real estate investors gain in-depth knowledge of their selected markets, for example, focusing on a particular geographical region and focusing on the residential network versus a professional network that can provide significant support and create opportunities for both new real estate investors and for the experienced. Effective real estate investors know that it's better to be fair, rather than seeing what they can do. While it can be relatively easy to earn short-term profits, building a long-term real estate investment business requires skill, effort, and these 10 important habits. Between the compact real estate education courses currently available and the availability of counseling, there's no reason why your plans should be suspended.
Real estate investors must approach their activities as business professionals to set and achieve short- and long-term goals. We created this graphic to show you the average size of companies that usually hire real estate investors. If you've only changed properties or rented single-family homes, expand to other forms of real estate investment. And since it always takes a lot of negotiations to reach a single agreement and a lot of property inspections to find a single property worth negotiating, real estate investing will become a full-time real estate business.
