Hi, I’m Chris Winter and in this video, I’ll be going over a step by step tutorial on how to invest in real estate for beginners.
This video is part of my “How to Invest” series, so make sure to check out my other videos.
Real estate investing is a rewarding type of investment, but there’s a lot of steps you have to take to be successful. Let’s jump straight with the first step:
Know What Type of Property and Strategy You’re Taking
There’s a ton of types of real estate properties to invest in, and once you determine what type of property you want to invest in, identify the strategy you want to take.
Real estate isn’t just limited to houses. It can be divided into four categories: industrial, commercial, land and residential.
Each type has their own set of pros and cons that you should research thoroughly and should fit your interests. Now that you identify the type of real estate you want to do, it’s time to choose your strategy and this is a crucial step.
Choose whether you want to buy-and-hold or get a fixer upper.
The buy-and-hold strategy is for people looking for a long-term investment and even want to live in their investment property and rent it out.
With the buy-and-hold strategy, you purchase a property and wait for years for the property’s value to increase.
As history tells us, the real estate market almost always goes up on average so it’s definitely a great investment if you hold it for at least 5 years.
Fixer uppers are the most hands-on strategy because this involves buying a depreciated property then fixing it to something amazing that the whole neighborhood will be impressed by.
This strategy is perfect if you’re looking for a shorter time frame like 1 year or less. Of course, there’s also the rental property option where you buy a property and rent it out.
This is similar to Airbnb or Vrbo, but you can either rent out your whole property, just a few rooms, even your garage or storage place… the possibilities are endless.
But find a strategy that fits you. Before we continue, which real estate investing strategy interests you the most? Leave a comment below. Now let’s continue.
Know The Risks of Real Estate Investing
Real estate investment is still an investment, and there’s always risks present no matter the type of investment it is.
Failing to pay back your lenders, over or underpricing your property, buying properties in a stagnant community, the list could go on and on.
Maybe the most important question to ask is, are you buying during a buyer’s market or a seller’s market?
Since each market is different, make sure you study not just the general risks of real estate investment, but also the risks of real estate investment specific to your area.
I’m not trying to scare you, but just being aware of these risks should be known because no one likes surprises, especially when something goes wrong!
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I’m Chris Winter and on this channel I make finance videos on:
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