4 Tips For Getting Started in Real Estate
It may seem like the world of real estate is unattainable for the average person, but there are some great ways to get started even with a tight budget and no experience. After selling my most recent property I celebrated with some cbdMD and felt inspired. Making money selling property has brought me great joy and I got involved without any experience and a tiny budget.
The first property I sold, I more than tripled my investment. I didn’t want to sell the place but I had to. It was in a dangerous area and my hands were tied. I hadn’t purchased that property to sell. I had purchased it to live on. But, when that was no longer an option, I did the best thing I could think of. I put my property on the market.
Anyone can get involved in real estate. All you need is a very small amount of savings and a whole bunch of spirit. If you can stay determined and focus on following these four basic tips, you’ll be on your way to real estate bliss in no time!
1. Start Small
When you first get into real estate, it’s important to manage both your expectations and your budget. If either one gets out of balance it will be a hindrance to your success.
You need to realize that you’re not going to become a millionaire overnight, but you can start taking steps in the right direction. The budget for your first project should be small. Maybe it’s a couple thousand dollars, maybe it’s $50k.. You can make money either way and sometimes the cheaper properties sell for a larger profit margin.
2. Zoning is Everything
Zoning is the king when it comes to real estate. Every property is zoned according to what the city thought it would be used for. These zoning regulations can be strict and it’s hugely important to make sure that the property you’re interested in is zoned for the purpose you intend to use it.
If you want to sell a piece of land as a farm, make sure it isn’t residentially zoned. If you want to fix up an old farmhouse to rent out to tenants, make sure that it is zoned for occupation.
3. Build it Up
A piece of land is just a piece of land until someone does something to it. I don’t say that because I want people to go destroy natural landscapes. I say it simply to make a point: until you turn your land into something, no one is going to view it as a piece of real estate. Doing something as simple as fencing off your land can make all the difference in selling it.
4. Sell for a Profit
This is a simple concept, but you’d be surprised how many people lose confidence in their property after working on it. Don’t sell yourself or your property short. Sell for as much as you can! Follow these simple steps and you’ll be on your way to real estate bliss!