Getting Started in Real Estate Investing
By William Tingle
“There has never been a better time to start investing in real estate than today!”
This statement is true no matter what year it is.
Real estate has always and will always be one of the most valuable commodities on this planet. No matter how we may change its landscape, develop, improve or alter its appearance, we simply can’t make anymore of it.
In the movie Gone with the Wind, Gerald O’Hara told his daughter Scarlet that, “Land is the only thing that matters, because it is the only thing that lasts.” Of course Gerald O’Hara is a fictional character but his words are very true.
Real estate is one of the greatest wealth builders of all time. It is hard to find any of the names associated with wealth in the history of this country who were not substantial investors in real estate. They knew its worth and you do, too.
So how do you get started investing in real estate? Investors getting started today have literally thousands of ways, techniques, and niches to get them started. There are just about as many ways as there are people wanting to invest.
When I think of the different types of investors in the most general terms, I think of two distinct types of investors. Let’s call them “traditional” and “creative”.
The traditional investors usually buy for the long term, using their credit, putting their cash down and renting out the property to cover the payment while waiting for the day when the combination of appreciation and principal pay-down deliver wealth to them. This can be a long, tiring method for all the while you are waiting on that wealth to come; you are dealing with tenants and toilets, repairs and all the other landlord headaches. It is, however, the way countless investors have reached financial security.
Then there are what I call the “creative” investors. These guys know so many different ways to make money with real estate it is mind boggling. They know you don’t always have to own real estate to make money, either. You can sometimes simply control it and make tons of cash.
These guys buy real estate so many different ways including lease options, straight options, leasing with the right to sub-lease and buying subject to existing financing just to name a few. They also buy with cash for pennies on the dollar although it is virtually always someone else’s cash.
They know all about how to simply get a property under contract and assign that contract to someone else for a fee. Walking away with a check on a property they never even owned. WOW!
They know how to buy and control these properties even if they have no cash themselves and have bad credit, unlike the traditional investor who must maintain a supply of both.
I decided early on that I wanted to be one of the creative guys. Their approach seemed to be so much more creative and, well, just plain FUN!
What does this all mean to you? Simply it means that there are more ways to invest than you can shake a stick at! The days of needing good credit and cash are long gone!
It means that no matter your present financial or credit situation, there is a technique that will work for you and allow you to make more money than you ever imagined.
It means that you and your family can learn in a very short period of time what financial freedom really is.
It means that if you are willing to get out there and learn just one technique, you can quit your job and never have to depend on anyone else for you and your family’s security again.
Getting started is simple. You have to DECIDE that you are ready to leave the fear monster behind. This will be the most difficult part. Fear keeps more people I know from ever being financially free than anything else I can think of. I know people who know every way there is to put a deal together correctly but are still paralyzed by fear. “What if this happens?” they say. “What if that happens?”
I say, “What if you don’t change anything about your life as it is today?”
Aren’t you more scared about what will happen if you don’t give real estate a try?
After you tame that fear monster, (and I know you will) expose yourself to the various techniques that are out there and pick the one that applies to your current means and the area that you will be operating in. Learn the ins and outs of this technique through either another investor who is willing to take the time to teach you or the purchase of a good course on the subject.
Then get out there and DO IT!
About the author
Mr. Tingle is the founder and President of the Macon Real Estate Investors Association in Macon, Georgia and also hosts www.Sub2Deals.com, a website specializing in subject to investing.