Leigh Steinberg once said, very narrow areas of expertise can be very productive. Develop your own profile. Develop your own niche.
Interested in real estate investment? You might feel that it is important to know everything about the market place and the investment strategies. However Jeff Adams, the real estate trainer says that there are only two things that you need to know. First that investment can be seen as a vehicle and second that a strategy is required to drive that vehicle.
Real Estate Chocolate
Have you ever imagined real estate as a box of chocolate? You have so many choices in a chocolate box, variety, texture and you might even have to taste each single piece to find out what is under. You might love some flavors while others would make you wobble. That is exactly the kind of niches and strategies available to a real estate investor. The art lies in choosing a niche and becoming a master of it.
Choose A Niche
Remember once you know your area of interest all you need to do is narrow down your focus, act like an expert, build up your network with similar individuals, execute your plan and become a master with time. Real estate provides you with lots of options to begin. There is raw land; there are single-family homes along with small and large apartments. There are REITs, notes and tax liens that can end you in good fortune.
It is always better to begin with one or two niches and add on a few more once you become good at handling them. This is the investment vehicle you need to ride and all you need after you get into one is a strategy to drive it forward.
Buy and Hold on
The first strategy you can use is to Buy and Hold on to it. It is a simple strategy which involves buying one property and putting it on rent for an extended period of time. This helps you collect the inflow of money over a period of time.
Flipping Real Estate
You can try the next strategy of Flipping Real Estate. This involves buying a property and selling it out at a discounted rate after improving it in a certain way. Thus it is the ‘buy low sell high’ strategy. All you need to keep in mind is speed and you will have to ensure quick buying, repairing and selling for maximum profits.
Wholesaling Real estate
You can go on Wholesaling Real estate. This involves getting great real estate deals, getting into a contract to acquire it and then selling the contract to a different buyer. So basically there is no property in your hand. You are constantly buying and selling like a wholesaler. This has also been attributed to be an easy approach to real estate investment since it involves low start up costs with very little to lose.
Now all you need to do is find out your niches and build your strategies. You are probably excited about real estate investing. Aren’t you? In the words of Jeff Adams, go on build a business plan and set out.
Contact my office at 800-574-9221 if you need assistance with further instructions on what to do next in order to build your 7-figure real estate empire.
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