Originally posted on February 15, 2016 by John Dessauer
Making your mark as a real estate investor may be a bit complicated in the beginning, but it is easier to accomplish than ever before. Assets such as the Internet, virtual networking, and researching on websites can really help a real estate investor get opportunities, build a sterling reputation, and have a very successful career. Those items are the exact reason why you may want to consider getting your real estate license as an investor.
Of all the many ways a real estate investor can make money, perhaps the most lucrative is property investment. A licensed agent has a big advantage over other property buyers in this market because they do not pay the usual real estate commissions when buying or selling. When flipping a property, for example, an agent can typically save 3 percent on real estate commissions when purchasing, and again when selling the property. This saved money can be channeled back into more real estate opportunities or at least lower your down payment.
Real estate agents also have the advantage of the Multiple Listing Service to help them find investment properties before they become known to the majority of the public. However, an industrious agent can also uncover good investment opportunities by networking and putting the word out that they are actively searching for properties to purchase. Diligently working on building a reputation for helping property owners in need, and being scrupulously honest and dependable will attract more and more people that will want to do business with you. This will lead to more investment options over time that will go far beyond the scope of the Multiple Listing Service.
To make your mark in real estate investing you need to find the specific niche where you can become a specialized expert(flips, apartment buildings, etc.). Take the time to choose this area carefully and really learn all the angles of your chosen market. If you need it, get additional education or training to help you gain more knowledge and learn more advanced strategies or technologies that will help you to achieve a higher level of success. Usually, your network of licensed agents is a great resource for that. Begin to develop a good plan for your own brand of marketing and advertising. Set financial and career goals for yourself and make sure to allow yourself the time to work toward them at a steady pace.
Really narrow your focus and be specific when you choose your real estate investment niche. Do you want to focus on flipping properties, or are you more interested in buying rental properties? Decide on your niche and then focus on becoming an expert in this area. You can even choose a sub-niche and specialize in certain types of investment properties, such as farming property.
Keep a database of all the clients you have done business with in the past and keep in touch with them. Some real estate agents use a monthly newsletter for the purpose of keeping their name in front of their public. Discuss your real estate investing in the newsletter and show off your knowledge and your success stories as well. Then, if a past client and reader of this newsletter, or one of their friends or family needs help to sell property quickly, you will be the first agent they call for assistance. Who knows, it may be one that you want to buy as an investment?
“Remember, wealth has nothing to do with money, success has everything to do with failure, and life is as simple as you make it!” – John Dessauer