FROM ZERO TO PROPERTY HERO: REAL ESTATE INVESTING TIPS FOR THE BOLD AND AMBITIOUS

BY JACQUIE BUNKER, CFA REALTOR® TRILLIUMWEST REAL ESTATE BROKERAGE @jacquiebunker.re

Ready to dive into the exciting world of real estate investing? Prepare to roll up your sleeves, crunch some numbers, and take on the housing market like a pro. With the potential for big profits, real estate investing can be an amazing way to build your wealth and achieve financial freedom. But where do you start? Don’t worry, we've got your back with these quick tips for how to navigate the wild world of real estate investing.

Start

Small And Work Your Way Up

Begin by investing in a single property and learn the ins and outs of the process before expanding your portfolio. Something like a condo or duplex. Remember, don't try to take on too much too soon.

Do your research

Research is key to real estate investing. Before you invest in a property, make sure you grasp the character of things like the local market, specific neighbourhoods, your prospective tenant pool, the potential for the property you're interested in to appreciate. Assess all potential risks.

Knowledge is power.

Build a solid team

Invest on fundamentals

Real estate investing is like picking a winning stock. Focus on market and property fundamentals that drive value: population growth, economic diversity, transportation, employment rates, rental rates, vacancy rates, etc. Invest where people, businesses, and communities want to be.

More than one way to earn a return

Cash flow, property appreciation, value-added appreciation, and debt pay down are some ways to earn a return. Cash flow is key, but don't fret if it's tough to get these days. There are still ways to make a solid profit on real estate with appreciation. Just make sure you build proper financial models with worst-case scenarios and always ensure you can cover cash flow in case of a short-fall

Think long-term

Real estate investing is a long-term game. Don't expect a windfall overnight. Instead, focus on building a solid portfolio of properties in desirable locations with great tenants. It’s worth it.

Whether you're flipping or holding properties, building your real estate empire can be an exciting and profitable venture. So what are you waiting for?

142

Teamwork makes the dream work. You'll need to work with real estate agents, mortgage brokers, accountants, lawyers; potentially, also, contractors and property managers. Building a strong team that specializes in real estate investing can help ensure your success. Having a trusted team in your corner that knows the market intimately can make or break your experience.