When you’re a new investor starting out, you hear so much advice from experienced investors, its really hard to determine a strategy on where to start. I have one bit of advice for you, to help break this real estate investing thing down, and give you a model that can help make you comfortable getting started in real estate investing:
Let’s see you put your goal to obtaining 1 home a year, for 10 years.
I’ll explain why and how this mindset can give you a great frame work from which to start your career, and keep your expectations and perceptions in line with the reality of venturing into real estate.
As you get more experienced, you will naturally progress to speedier turn around times, more affordably and with less risks. But starting out, keep it simple.
20 Comments
Lisa, do you pay cash for all your homes? or do you also get land
contracts/ subject to contracts?
Hi! Check out episode 0053, How I purchased My rentals, and also FInancing 101 and 102. Thanks!
Lisa, great minds think alike. My goal has been 4-6 homes in 6 years at 1 a
year. I live modest in order to save for the next purchase…I’m interested
in multi-units because they yield a higher return than single
families…usually. Right now I’m considering a 4-unit in Deanwood, DC but
after reading the disclosures I’m concerned about the rents which are
really low…I’ll no longer qualify for rent control exemption if I
purchase which means I can only go up on rent by so much (I think 4.2% for
non-disabled/elderly) a year. However, I’d still have a good return. Based
on what I’ve shared, would you buy?
keep ’em coming!
Did you live in the first 30k house i buy until it was paid off?
I’m in the St Louis area and I’m trying to find a mentor to help me to do
just rental properties and honestly I’m having a hard time so mentors. if
you can refer me to anyone or if you have a program that I can get into
tshow me the proper steps to get started because this is my passion and is
what I wanna do but honestly I don’t wanna make any monumental mistakes so
any info you can throw my way I can preciate it no I truly truly humbly
appreciate it
Thanks for the video Lisa. I’m not looking for a shortcut. I’m looking for
the proper knowledge to flip houses the right way for several decades. Keep
up the great work!
Love your videos queen…just awesome!!! check me out at
creativenichellc.com for all-natural products that I make myself…xoxo
your my shero…LOL!
hi Lisa, I just rented out a home id been living in for 6 yrs that I bought
in an auction for 25 grand and just rented it out via sect. 8 in atl.
ga. I’m an RN and debt free, I plan on buying more affordable homes in he
future but I’m finding it hard to believe you can buy a home a year for the
prices you are talking about. how can you consistently find these deals?
this was always my same goal. 1 house a year with an ultimate goal of 10
rental properties. Excellent post!
Thanks, really appreciate the effort you guys put into your post.
Cool video,
Thank you.
I watched the video but can you go more into detail about the HOW of it
all? What is the formula for buying 1 home a year for 10 years?
Hi, Have you looked at the financing your rehab category list? I can not possibly explain everything there is to know about real estate investing in one blog post, so I divided them up by topics and grouped them into categories. You can see them on the right side of the home page.
I love this video. You are very inspiring!
More information.
What type of information, David?