Okay, so you finally decided to take the step to invest in real estate. You need to know where to start and what are the most immediate tools for you as a new investor.
Let’s take a look at the Internet.
The Internet allows you to do all the research that you would essentially spend days or even weeks doing on foot. You can go ahead and spend your time searching and shopping in the local newspaper for DIY hobbyists, contractors, and real estate agents, or maybe even take the time to flip through the Yellow Pages, letting your fingers run.
The Internet allows you to do all of these things in a much shorter time, as well as provide you with an interactive result for any questions you may have. Suppose you want to go ahead and contact a real estate agent you found on the Internet. You can email them or, more often, have a direct phone number to contact them and answer their questions. The internet can save you a lot more time as a new real estate investor. It is absolutely obscene about the way we did things as investors before that happened. Use the Internet 100%; make sure you are there doing your research.
Build your team
The Internet allows the new real estate investor to form a team and have direct knowledge of the fields in which they want to invest. For example, suppose you live in Los Angeles, but want to invest in a small community in Houston. Now you have two options here. You can do it with the proven method. Ask for a response from someone who can recommend someone to Houston. Or you can log in online and start looking for real estate agents. In this particular area you want to invest in.
My suggestion, however, is not to do one or the other. My suggestion would be to connect to the Internet. Find real estate investment groups in the geographic area in which you want to invest. Why do you want to look for real estate investment groups? In other words, word of mouth. IT’S VALUE for you. You do not necessarily have to negotiate with someone in this region of the country that you have never met. You can read comments, hear first-hand accounts. Talk to the people who have worked with them, and most of the time, get feedback. Ask questions, post questions in a section of the local bloggers forum in this part of the country.
Continue your research and build your team using the Internet.
The Internet has countless resources that a real estate investor can use. Mortgage calculators, track interest rates, network with investors in your area of interest … as well as other areas of investment you might consider working on. You can find real estate investment groups across the country, as well as local real estate investment groups in your same area. You can literally find and interview new candidates for the skills you’ll need to make your investments. Be it a plumber, a mortgage broker, a real estate agent, or a landscaper.
Let’s take a brief look at online networks.
You can connect to one of the popular social networking sites like Facebook or MySpace, and search there for blogs, real estate investment groups or just to talk to other investors. Or, as mentioned above, you can find real estate investment clubs and groups both in your area and across the country. No matter how you create your network, don’t underestimate its value. Okay, let’s say you’ve thought about going into commercial real estate, but don’t know how. By doing your homework and networking, you can find plenty of people who can help you get started investing in commercial real estate and / or any of your side businesses.
Finding like-minded people is much easier when you have the Internet as part of your weapons arsenal.