Getting Started As A Real Estate Investor

I have written down the first 9 questions you need to ask yourself before you proceed forward as a real estate investor. These questions are crucial for you to know so that as you proceed you will know which types of deals you should look into and which you should not.

1. How much time do I have available to spend managing my Real Estate Investments?

2. Am I a full-time or part-time investor?

3. How much cash do I want to invest?

4. If I don’t have any cash or credit, what am I willing to do to get my first property?

5. Am I handy with tools, or do I want to hire everything out to get things done?

6. Is my spouse supportive, or is he/she a potential roadblock?

7. Are my income expectations realistic, based on my current level of knowledge?

8. What’s keeping me from moving forward?

9. What do I hate doing?


Now that you’ve answered these questions, you’re now ready to continue…

While it is true that you can make pretty good money in Real Estate, you can also lose a lot if you don’t have a plan. I have seen several developers and investors, who were turning 75 houses a year, go bankrupt because they were out qualifying and guaranteeing loans. When the market had a sudden downturn, they were hit hard. As is often the case, they had a faulty plan, and did not prepare for a change in the business cycle.

The biggest problem in new investors getting into is not having a plan for what they are going to do with the real estate that will make them money.