5 Signs You Need Help with Real Estate InvestingJan 02, 2023
Investing in real estate can be a scary and daunting process (even for experienced investors).
There are many things to think about, from credit scores to rental rates to the type of property you want to buy.
As a result, it's easy for investors to miss something, miss out on deals or make mistakes that cost them in the long run.
In this blog post, we'll talk about the five signs that show you might need help with your real estate investing ventures.
1. The deal is gone before you make an offer.
This may be that you're in a competitive market or you're stuck in analysis paralysis.
Experienced, well-capitalized investors move quickly and know what they're prepared to pay and on what terms.
Real estate is all about being in the right place at the right time, and that usually means having money available to buy it when you find something suitable.
However, if deals are going too quickly before you can get your offer together, you may need to invest some time and money to work with people who can help you gain the confidence to take action.
2. You can't get a bank loan, or your credit is too low to buy properties.
If you find yourself in this situation, it's time to improve your credit score and find ways of getting higher down payments (or cash for closing costs).
If you're having trouble borrowing money through banks and other traditional lenders, consider using private money lenders to finance your deals.
3. You can't find properties that match your criteria.
This may mean you haven't done enough research, don't understand the fundamentals of real estate investment (such as cash flow and appreciation), or are too emotional about particular areas/properties.
If you're not finding what you want at prices that make sense, consider investing in real estate coaching or mentoring to help you with your criteria.
4. You can't find people who want in on the deal with you.
Many new real estate investors struggle when they go it alone—when nobody wants in on their deals, or they cannot assemble a group of like-minded individuals for joint ventures, syndications, and partnerships.
Consider finding a real estate coach or mentor to help you find the right people and put together deals that will allow you to get your properties under contract.
5. You can't manage all of your properties yourself.
For many investors, managing their property portfolio becomes too time-consuming.
As a result, it's common for real estate investors to realize they can't do it all independently and start looking for property managers, rental agents, or another type of help.
If you find yourself in this boat (or if you're tempted to take shortcuts like ignoring maintenance issues because the rehab process was too stressful), consider hiring a management company to help you with your investment.
The information contained herein is for general guidance on matters of interest only. This information contained herein is not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. M1 Real Capital Inc, Marcin Drozdz is not a financial, legal or tax adviser. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. You understand this to be an expression of opinions and not professional advice. You are solely responsible for any actions you take with the content and hold M1 Real Capital Inc, Marcin Drozdz or any of his affiliates harmless in any event or claim.