Real Estate Investment: Four Tips and Techniques for Success

“Real estate cannot be lost or stolen, nor can it be taken away. Purchased with common sense, paid for in full and managed with reasonable care, it is the safest investment in the world.” –Franklin D. Roosevelt

Any form of investment activity can be pretty daunting for beginners, and it can be rather easy to get lost in the technicalities, the logistics and the advice you have read in various articles online. Investing in real estate is no different, it takes a whole lot of determination and commitment on your part to make it through. To help you navigate through your maiden journey in this endeavor, this article has collected various tips and techniques which should assist you in your search for financial freedom through real estate. It would not necessarily teach you all there is to know, but it is a start that would steer you towards the right direction. It is not an exhaustive list, but the techniques listed below are sufficient enough to get you started.

1.)    Have some resolve

Investing in real estate is not something you decide on a whim. It is something you decide with firm conviction. Before deciding to get into real estate investment, you would need a significant amount of time to contemplate whether this is what you really want to do as successful real estate investments take time and patience. It is not a get-rich-quick scheme, but it would help you gain leverage on your financial suture. There are struggles, and you will inevitably make mistakes, but you should not let these stop you. Let these serve as life lessons in honing your skills instead.

2.)    You do not need to be an expert

Many individuals would be intimidated by the thought of going into real estate as they think it needs a particular kind of expertise and investing acumen which they do not possess. The truth is, the people who have been vastly successful with real estate investment may look like they have it all figured out and are experts in the field, but they do not know it all. Nobody is a thorough expert in this field as real estate investment schemes change over time. This would require you to continuously research the trends and know more about it. To be successful, you do not need to be a total expert in all things real estate, you do need to do the hard work, however.

3.)    Learn to sacrifice

True financial freedom does not come without a few sacrifices made along the way. Just think of how badly you truly want to succeed at real estate investment and use that as an inspiration to do better—and to forgo the things you do desire, but not necessarily need. More often than not, you would be constrained to forgo vacation plans to use that money toward a down payment instead, and you may need to give up luxuries to have enough capital to begin investing. It may seem like you are giving up a lot to accommodate this investment, but know that it is also the single most rewarding thing you might ever do. The years of sacrificing would be well rewarded once you are financially free.

4.)    Make a written plan

You would not go on a road trip in a foreign country without a trusty map, so similarly you should have concrete plans for your real estate investment—on paper and not just in the mind. Having your ideas on paper makes it a lot more visible, and a lot more real. It serves as your road map in navigating your first journey to the world of real estate investment.  Sit down and create a plan as to how you want to get to your end goal from your original purpose. Stick with the principles you have set out and be mindful of your plan. You do not necessarily need to rigidly follow your plan step by step of the way, but you need to make sure that what you are doing is still guided by the same principles laid out in your plan.

Investing in real estate may seem like a hit or miss opportunity during your initial attempts in undertaking it. However, through time, enough experience and fortitude, you would soon find yourself getting comfortable with it, and you may soon be renting out properties from Senta to other areas in the Philippines. Just keep pushing through and in time, you will find yourself wonderfully rewarded.