Tag: #local

Is Real Estate Investing For You?

Posted on | by Allison Zuck

Real estate investing is very popular, with good reason! It can be a side hustle, or a full time job. And, with the internet, it’s easy to get your business out there. But, is it the right path for you? While it can be easy to start a real estate business, success can be harder to achieve. You should consider a few factors before diving in headfirst, because the best businesses are the ones that are fully informed!

There won’t be a steady paycheck

One of the most unpredictable parts about real estate investing is the pay. It is not the typical 9-5 job where you can go into work and predictably get paid for whatever you do. You will be working for yourself, and even if you work hard, you aren’t guaranteed a steady paycheck. It’s very alluring to want to work for yourself, and it’s a great thing to do, but all your results depend on you. So, if you are in a position where you need a steady paycheck, consider real estate as a side hustle, instead of a full time job.

You have to be willing to learn

Working hard is a big element of real estate investment, but learning about the business is equally important. If you jump into real estate without the willingness to learn, you won’t be able to maintain your business. You cannot just jump into real estate investment to make money. Instead, you must be willing to take the time to learn. To succeed, you not only need to work on your business, but also use your time to peruse resources and learn from your mistakes. Mistakes are not the worst thing to happen in a business, if you learn from them.

You have to persevere

Real estate investment is not easy. You will have unexpected issues, difficult tenets, and other problems, no matter what. Therefore, you must be willing to work through all those issues. You have to work past those issues in order to have the reward of your business. Real estate will always be hard, but if you continue to work hard, you will also set up patterns to resolve any issues that arises.

Set a clear mission with good expectations

You have to know why you are starting this business. If you don’t know your ultimate goal, it will be harder to keep working when things get tough. But, when you have a clear mission, you can work towards that when you are discouraged. The job should not be able making money alone. You need to focus on the long term. Think about why you chose real estate, and make that your driving principle.

Here at All County Legacy, our mission is to ensure every property owner has a competent and honest professional to manage their most valuable asset. But it is about more than that as well. The team here wants to impart a legacy to those coming after us. Because we know what we are working for, we are able to keep that goal in sight. You will have a different goal, and that’s wonderful! You should work for what is important to you.

These considerations are to make sure you are entering into the real estate business as informed as possible. The job is not for everyone, but if these things do not deter you, it may be for you!

A Deal’s a Deal, No Matter How You Find It

Posted on | by Allison Zuck

With the competition in the market place, it’s hard to find real estate that you get for a good deal. However, through creativity, you can find your next property.

Word of Mouth

One way you can find properties with barely any work is through word of mouth. Tell your everyone you know, from family to your book club that you are looking for great property deals. That way, if they see anything, they can tell you. Also, joining a real estate club may help you out as well. Even though people in the club are also looking for deals, you could be looking for something completely different than them.

Ads

There may seem like there is only one option for advertising, but there are a variety of different types of ads you can use to find properties. You can leverage people’s use of the internet by placing an ad on Google or Craigslist, or you can go a little more old fashioned. There are options from making a mailing list, to tastefully putting signs in your yard or on your car, to even buying a radio commercial. If you want to go big, get a billboard! If you want even more options, place ads in your local newspaper or in any landlord magazines you know of. All of this advertising gives you the possibility of someone with a fabulous property reaching out to you.

Online Options

Even though it’s popular, don’t dismiss using MLS as a way to find a property. Look at a wide variety of online marketplaces. Be willing to search on Craigslist to find some properties. If you are willing to say you want properties on Craigslist, people will most likely be listing their real estate. Look through expired listings. You could potentially find a great deal, because the house didn’t sell during the time it was listed. But continue to make sure that as much as you are searching, you will be easy to find. Make sure that your website comes up when people search about selling homes in your area. Look into search engine optimization to help you in that area.  A blog is another approachable way to make your business out more noticeable.

Other Possibilities

Be willing to drive around your area and find vacant properties to research. While you’re out, also look for properties for sale by owner, as owners may be more excited to work with you. You can always use a wholesale seller, who will charge a bit of a fee, or a commercial broker. Sometimes, one man’s misfortune can be a real estate owner’s opportunity. You can find a good deal if you look into upcoming foreclosures and buy the property first. If someone does get foreclosed, you can always bid on it at the courthouse when it arrives. Be willing to look up the eviction records at the courthouse and buy right before someone is forced to evict a tenant. Also, if someone doesn’t pay taxes, you can get the right to buy their property, and it can be a great deal!

It may be hard to find real estate at first, but don’t be discouraged. If you cast your net wide, the properties will start coming in!