As someone who might still be at an early state in their career, getting started in real estate might seem like a far-fetched goal or dream. However, it is not as impossible as you might think! Here are some simple ideas on how you can get started in real estate investing:
Invest in a duplex or multi-family
If you want to get some experience under your belt before beginning an extensive fix and flip project, investing in a duplex or multi-family property could be a great option to allow you to start collecting capital that you can eventually put towards another investment opportunity. A duplex consists of two units with two separate entrances. This allows you to either rent out both units separately, or, rent out one unit while living in the other. If you begin your real estate investment journey with a duplex property, you can get property management and landlord experience while still being able to live close to your tenants and not risk too much.
Grow the right network
Networking is priceless. To be successful in real estate, it is important to continually make an effort to grow your network including meeting other real estate investors, influencers, contractors, and those who could potentially help with your next deal. A local investor meetup in your area could just be the best happy hour you ever attend! Other networking opportunities include the many investor forums and groups on Facebook, Easy Street mixers, and online communities such as BiggerPockets. We recommend that you travel with business cards handy at all times - you never know who you might meet on your next elevator ride!
Begin a joint venture
The right partner can either make or break the process of completing an investment project. If you are a first-time flipper, pairing up with someone who has more experience could be a great way to find a mentor and put some of the new pressure off of your own plate. Discover the advice behind one of our Easy Street DWF borrowers who paired up with an experienced investor through a joint venture to complete his first-time flip project. You can read his story and his thoughts behind the risk in real estate investing here.
No matter if you are new to real estate investing or if you’re a seasoned pro, Easy Street Capital is here to help. We’d love to help answer any questions you have and fund your next investment. Fill out our 1-minute loan application and someone from our team will be in contact within 24 hours.