How I Started Investing In Real Estate
From actor and film producer to real estate investor and developer!
#DECONSTRUCTING THE HOME SHOW EPISODE 13: MY STORY
I started investing in real estate with $15,000 I had saved from doing film work throughout college.
My first investment was a run down 4-plex a little south of downtown San Antonio. Three of the four units were rented so I knew there was some cashflow, but I had no idea what I was getting into from there!
If you’re wanting to start investing in real estate or flipping houses here are a few of the things you should do first!
1. Educate Yourself
You need to learn about the mechanics of real estate. What a contract, earnest money, and option period are. Things that we don’t understand are scary. Face this initial hurtle head on.
You also must learn about the mechanics of real estate investing! This is a totally different world than just “buying a home”. Start researching city and regional growth trends, learn about supply and demand, construction management, etc. The more you learn the more you can protect yourself from getting ripped off by people who don’t care about you.
2. Prepare Yourself to Focus on Real Estate
If you have a busy social life, lots of consumer debt or a demanding day job, you won’t have the mental energy to learn something new. It’s time to simplify your life and commitments for a period of time and focus on this new area of your career.
3. Assemble Your Team
Don’t go at this alone! Pick the role you’ll play in your investment team and stick to it. Fill in the holes and areas you are weak with specialists in each area. You’ll need contractors, architects, real estate agents or brokers, construction managers, tax strategists. The more you plan for these things on the front end the less catch up you’ll have to play once you’re in the middle of a deal.
4. Take Massive Action
Give yourself a hard deadline and DO A DEAL! I know so many people are defeated before the ever start because they can’t bring themselves to do a deal. Push through the unknown, find something manageable and buy some real estate. Everything gets more real and much clearer when you sign your name on a dotted line in a title office.
Check out the other episodes of the show on my YouTube channel all about real estate investing, flipping homes, rental properties, the list goes on and on!
And when you do your first deal, reach out and tell me the story!
On this episode of #DeconstructingTheHome Show I talk about how I began investing in real estate.
- What I did before real estate
- What my first deal was
- How I grew my business
- Best decisions and biggest mistakes… so far!