Probably the hardest part of getting into real estate investing is knowing where to start. Here are three tips to get started investing in real estate as a goddess:
Many/most people don't take action because they don't know what to do. Lack of knowledge/clear steps leads to paralysis. Education for effective action is the antidote to this.
I created a free training to help you know what steps to take so you can get into effective action >>> How to Get Started in Real Estate Investing Even as a Busy Professional Woman. Click here to sign up for an upcoming session.
The more clarity you have on what you want, the easier it will be to bring it forth. I cannot overstate enough how important this step is. Clarity is rocket fuel for your desires.
Here are some of the questions you can ask yourself over the next few days to help yourself find clarity before starting investing.
1. What does su...
Interest rates are incredibly low due to the Federal Reserve's attempt to stem negative effects from the pandemic and stimulate growth. This is what it means for you as a real estate investor:
- When you're borrowing money, you are borrowing it at sometimes less than the cost of inflation right now. You can use OPM (Other People's Money) for next to nothing.
- There is a record-low supply of homes for sale, and homebuyers are facing competitive bidding wars. The low-interest rates are also helping to drive up prices.
- The low-interest rates make refinancing particularly attractive. In 2020 refinancing activity reached a 17 year high. Savvy investors are doing cash-out refinances (a non-taxable way to access cash from the equity in your home) to have funds available for more investing.
If you can find the right property at the right price, low-interest rates make buying with leverage particularly great right now!
There are two main ways to lose money in a real estate investment: invest in the wrong vehicle (for you) or invest in a bad vehicle. Both are the result of a lack of education. Without education, you will not be able to tell a good deal from a bad deal, or a good deal for you from a bad deal for you.
A while back, I had the pleasure of interviewing Barbara Huson (formerly Barbara Stanny), author of the books Secrets of Six-Figure Women, Overcoming Underearning, Sacred Success, and Rewire for Wealth (among others).
Check out that interview herfe: Barbara Stanny Interview
Even though Barbara was the daughter of Richard Bloch, the “R” in H&R Block, and grew up very wealthy, she was never taught anything about money. Her father didn’t think it was a woman’s place to deal with money.
As a result of her father’s attitude, she grew up wealthy and blissfully ignorant, and married a man whom she entrusted with all the financial de...
One of the first questions you need to ask yourself, as an aspiring real estate investor, is what resources do you currently have at your disposal for real estate investing? This will give you a better idea of how to create a personalized plan or blueprint that helps you making the most of what you have.
As a real estate investor, your best resources (other than money) are time, experience, education, and relationships. Let me break them down a little further:
One question to ask yourself as you begin your investing journey is, how much available time do you have? Realistically you need time for finding the property, finding the financing, managing and renovating the property (if needed or desired), managing outside investors, etc. If time is not one of the resources you have, then partner with someone who has that resource more available!
Here’s the thing- the more experience you have, the more time and money you will save. With experience, you know wh...
As women, we use to think that we can do it all, that we need to have everything perfect, and that's ok. Those are qualities of our personality that help us be one step ahead of life’s everyday challenges. But, when it comes to investing, some of the things that most of the time work in our favor, may become mistakes that can cost us valuable time and money.
Here you have a list of the most common mistakes women make in real estate investment:
One of the biggest mistakes we see women make in real estate investing (before they even begin) is waiting for the “perfect” time to begin. This is a HUGE mistake because as badass women who juggle 100 things at once. there will never be a perfect time. There will never be a perfect property, a perfect bank account balance, a perfect sign from the universe... and you waiting is only you getting in the way of your own happiness. Getting started and gaining that mom...
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