Are you thinking of starting a real estate investing business in 2021?
Then you’ve come to the right place.
In today’s video we are showing you the 10 most important real estate investing tips to start and run a successful business in 2021:
Tip #1. Get Your Finances Ready
Review and evaluate your income, your savings, and your expenses to calculate exactly how much money you can afford to spend on your real estate investing business. This will determine the best market and the best property type for your budget.
Tip #2. Research the Best Financing Methods
Look into banks and other conventional mortgage loan providers, FHA loans, hard money lenders, and private money lenders. Shop for different options to find the best terms and conditions.
Tip #3. Get Preapproved for a Loan
The 2021 US housing market is very hot and competitive. Most locations are seller’s markets, and property sellers receive multiple offers. They will likely accept an offer from a buyer who is ready.
Tip #4. Buy an Investment Property in a Top Location
The most important factor which determines how good a particular market is for real estate investing is what cash on cash return properties are able to generate.
To find out the best places for traditional rental property investing in 2021, watch this video: https://www.youtube.com/watch?v=D4uL2vmUwv8.
To find out the best places for Airbnb rental property investing in 2021, watch this video: https://www.youtube.com/watch?v=APgOVFPCKKQ.
Tip #5. Browse the Best Sources of Real Estate Listings
Search for properties for sale in the local newspapers, on different real estate websites, or by driving for dollars around the neighborhood and looking for For Sale signs.
Tip #6. Conduct Investment Property Analysis
For each shortlisted property for your real estate investing business, estimate the recurring monthly expenses, expected rental income, cash flow, cap rate, and cash on cash return.
To learn more about what is a good cash on cash return in real estate investing, read here: https://bit.ly/3f89GFc.
Your rental property analysis needs to be based on reliable data reflecting the actual performance of rental comps.
T learn more about how to perform investment property analysis, read here: https://bit.ly/3y1Cgkc: .
#7. Work with a Real Estate Agent
An agent will help you find good opportunities for real estate investing for beginners, make the best offer, get the right price, and close quickly as well as figure out all legal issues.
Tip #8. Make a Good Offer
Most real estate investing markets are hot in 2021, and sellers have the upper hand. As a buyer, your offer has to be more competitive than the rest so that you can get the property and start your real estate investing business.
Tip #9. Be Ready to Close Quickly
Make sure you have all documents ready to close the deal as soon as the seller accepts your offer. Your agent will help you with this process.
Tip #10. Choose the Best Rental Strategy for Your Investment Property
As soon as you buy your real estate investing property, you have to select whether to rent it out an Airbnb rental or as a traditional rental. Your decision will depend on the rental demand and your property.
So, those are the 10 most successful real estate investing tips in 2021.
To start searching for the most profitable traditional and Airbnb rental properties in the US market, click here: https://bit.ly/3hefQq1.
To learn more about how our tools can help you start a successful real estate investing business, read here: https://bit.ly/3xZoOxm.