Real estate investing can be a lucrative and rewarding career, but it requires dedication, patience, and the right strategies. In this post, we will discuss the journey of a successful real estate investor, Mike DeHaan, and explore his strategies for success, the challenges he faced, and the importance of relationship-building in the competitive world of real estate.
In the latest episode of The Art of Agency, Jonathan and Mallory are joined by Basia Bubel, who shares her journey from investor to real estate agent. When faced with a change in her life circumstances, Basia sought a career that didn’t drag her back into an office and a steady income, ultimately choosing real estate based on her prior investment experience.
Read MoreUnlock the secrets to successful real estate investing with expert Shannon Robnett, a seasoned real estate professional with over 27 years of experience and a five-generation family history in the industry. In this article, we will explore the advantages of commercial and industrial real estate, the importance of understanding the market's five-year cycle, and tips for both experienced and aspiring real estate investors.
Success in the real estate industry with a team hinges on making smart hiring decisions and recognizing that it's a relationship-driven field, not solely about sales techniques. For realtors to build and scale their businesses, they need to understand the importance of fostering meaningful connections with clients and colleagues.
Read MoreHouse hacking is a gateway for many new real estate investors to invest, offering them a way to cover their mortgage expenses while building savings for future investments. This strategy provides financial stability and serves as an entry point into the broader realm of real estate investing. As investors delve deeper into the field, they swiftly discover many investment opportunities, ranging from mixed-use properties and wholesaling to the straightforward approach of acquiring and retaining profitable deals. The journey into real estate investment unveils offers multiple avenues for those willing to explore and learn.
In this competitive landscape, clients need a realtor who excels in communication, provides expert guidance on submitting offers, and knows the optimal timing for bidding on homes. Agents with these traits offer their clients a distinct advantage when competing in multiple offer scenarios.
Read MoreThe journey to real estate wealth is rarely a straight line. Many investors don't start out with a childhood dream of owning or investing in real estate; instead, they stumble upon the idea and dive into it as a career. However, to create the career you desire, finding a location where you can thrive as an investor is crucial. This could be your hometown or a different state altogether. The more familiar you are with an area, the more opportunities you'll have for successful investments.
Read MoreMany real estate agents believe they shouldn’t be friends with their competition, but this common myth can harm their success. Building good relationships with other realtors can help agents expand their network and get more referrals.
Read MoreInvesting in land is often overlooked as a viable option for real estate investing, but it can be a smart move for new investors looking to get into the business. With lower costs and less maintenance than traditional real estate investments, land can offer an accessible entry point into the market. Additionally, land is often less emotionally charged than purchasing a home or building, making it easier to buy and sell quickly. If you're considering investing in real estate, don't overlook the potential benefits of investing in land.
To be successful in the real estate industry, agents must be client-centric and focused on building solid relationships with their clients. They need to be organized and efficient, providing guidance and support throughout the buying process.
Read MoreReal estate investing has become a popular way for investors to diversify their portfolios and create passive income streams. As investors gain more experience, they discover their likes and dislikes, often leading them to niche their assets. Investors can create more lucrative opportunities and face less competition by specializing in a specific area.
When it comes to the real estate business, professionalism is key. Unfortunately, many realtors fall short. They can come across as pushy, ignoring the importance of building relationships and not taking the time to truly understand their client's needs.
Read MoreReal estate investing can be a lucrative way to build wealth, but the lack of education and understanding surrounding taxes can lead to significant financial losses for investors. In this episode of Zen and the Art of Real Estate Investing, tax expert Tom Wheelwright joins Jonathan to discuss how having tax knowledge can transform your real estate investing career. Tom's book, Tax-Free Wealth, is a bestseller, and he is a trusted advisor on the Rich Dad team. He emphasizes that one of the secrets to building real wealth is paying fewer taxes, and he explains why the U.S. government wants you to do just that.
Read MoreMost real estate agents don't know how to use digital marketing to its fullest potential. They either overanalyze algorithms or post without any strategy. But the key to social media success is creating quality content, being authentic, and leveraging this tool in your marketing strategy.
Read MoreReal estate investing is often associated with owning rental properties, multi-family units, or commercial buildings. However, there are many other investment vehicles in the world of real estate investing. Learning about and understanding them can diversify and enhance your investing career.
Real estate offers flexibility, but it comes with trade-offs. It’s a commission-based field, which means that if you don't sell, you don't eat. The upside is that the earning potential is unlimited, depending on the effort you put into it.
Read MoreEarly interest and self-confidence are gifts that successful investors often possess. A little youthful can allow you to try new things without fear of failure, leading to decisions that can completely alter the trajectory of your life. House hacking is a tried-and-true concept that can be a great entry point for real estate investing, especially for those with limited funds for an initial investment.
In today's real estate world, being part of a team can offer advantages you may not have considered.
Read MoreTaking action is crucial to getting started in any profession, and this is especially true in the world of real estate. With an abundance of available information, it's easy to fall into the trap of analysis paralysis, where too much research and analysis can hinder progress. This theme is a recurring topic on the podcast, and many investors have found that having the courage to take the leap and learn from experience jumpstarted their careers. Though learning through mistakes is often challenging, the lessons from those mistakes can shape the rest of an investor's career.
Making yourself stand out from a sea of other realtors means doing things other realtors aren’t doing.
Read More