By Mike Baird
Every year my real estate partner Greg and I are lucky enough to speak to hundreds of students about how we got started in real estate investing. One of the most common questions I hear is, “How do I start?”
I know that when a student asks me this question, they’ve likely been seriously thinking about getting into real estate investing for some time. They’re intrigued, amped even, at the idea of being able to be their own boss and flipping houses for fun and profit. But — like many of us facing something new — they’re overwhelmed and don’t know where to start.
I know you’re probably thinking that my response to them would be giving them some kind of technical advice, along the lines of running an ad to build a buyers’ list, or joining your local real estate investing club. But the truth is, my response is much simpler.
Just jump in — or as Nike says, “Just do it.”
There are a hundred different ways you can get started. Contrary to popular opinion, there’s no right or wrong place to start. The crucial thing is getting off the starting blocks in the first place. And the reason why many people suffer from “failure to launch” is simple. Fear.
So if this in any way describes you, where you’re at right now, I’d like to give you a little pep talk — remind you of some of the top reasons why launching a real estate business is the best kind of business you can be in — and why today, right now, is the best time to get started.
- Unlike stocks or shares or bonds, land is in scarce supply. No one is making it any more. Meanwhile, our globe is getting more and more crowded and America’s population continues to swell. While the market will always fluctuate up and down in the short term, over the long term it only heads one way — up.
- With real estate investing you get to “clip the ticket” at both ends — you can make money from capital appreciation of the asset, and you can create an instant income stream for yourself by renting it out.
- There are so many different real estate investing strategies — which means no matter what the market is doing, no matter what the economy is doing, you can always be making money buying and selling real estate.
- You can start your own real estate business on a shoe-string budget. All you need is a phone, a computer and an internet connection and you’re away.
- You don’t need your own money to invest in real estate! It’s the only investment vehicle I know of where you can leverage other people’s money, without needing to put any of your own assets on the line, or even having your credit score checked. Yes, you’ll need to put in sweat equity to a property (sorry guys, there’s no such thing as a free lunch), but what other business do you know of that doesn’t require a penny from your own wallet to use?
So there they are. The top 5 reasons you should be jumping, feet first, into real estate investing and shoving fear to the side. Being successful doesn’t mean you don’t feel fear — it just means you’ve figured out a way to push through it. Hopefully I’ve helped you push through yours!