The first step you need to take when getting started in real estate is to choose the most suitable path from the vast number of real estate careers. Furthermore, you may consider either the commercial or residential path of investing in real estate. However, many often choose real estate careers that make the most money! Why shouldn’t they? So, such questions as “How to become a real estate developer?” quite often pop up in an online search. Yet, the path of becoming a successful real estate developer will not be short. Consequently, why shouldn’t you try real estate investing instead? Well, let’s find out how to become a real estate developer, as well as why you should try the real estate investing career path instead.
#1 Who Is а Real Estate Developer?
A real estate developer is the one who goes about buying land for investment purposes, then prepares it for construction. However, that is not all. He/she manages the whole process from day one until the moment when the investment property is sold to a real estate investor. Additionally, the real estate developer may choose from a few different real estate development fields. The most common real estate development fields are residential and commercial real estate. However, which field brings the most profits? Well, investing in real estate for commercial purposes will allow you to earn more. Still, do not forget that this is way riskier than residential investing in real estate. Therefore, a proper estimation of the real estate market, market value of land, etc. is a crucial step. Ready to find out more about real estate developers? Make sure to read “How Much Does a Real Estate Developer Make?”
Yet, buying land for investment purposes is not the only criteria for a real estate developer. He/she may consider buying an investment property that is in a very bad condition. Once again, in order to start making money in real estate, the real estate developer should come up with many different plans and build the team of professionals who will help him/her to complete the project.
#2 How to Become a Real Estate Developer
We are going to be honest about the career of a real estate developer from the beginning. Just because you have decided that you want to be a real estate developer, does not mean that you will become a good one. The reason is simple. The real estate development industry is a very tough sphere to be in when getting started in real estate. Moreover, without proper real estate investing education, the chances of succeeding are almost none. A college degree or obtaining a BA in a related sphere will allow you to enter the real estate development game. Still, to become the best real estate developer, it is highly advised to continue your education and get a master’s degree in real estate development or in a closely related sphere. Consequently, consider education first before considering yourself as a real estate developer.
Education is important, but without the real-life experience, it will be hard to become a good real estate developer. Be prepared as the steps that you will take towards becoming a real estate developer are going to be seriously tough. Forget about free time as all your time from now on is busy with tons of work that you will be obliged to do. Moreover, buying land for investment purposes and implementing the project will bring a serious headache until the real estate developer finishes what he/she has already started. Maybe choosing a career as a real estate investor is actually better?
#3 Trying Real Estate Investing Instead
Becoming a real estate investor will not take you much time. Moreover, if you choose the right real estate investment strategy, you will be able to start making money in real estate fast! Thus, let’s explore why should you try real estate investing instead.
How to Become a Real Estate Investor
Becoming a real estate investor is not as difficult as becoming a real estate developer. Still, there are some real estate basics that every real estate investor should know before buying an investment property. First of all, the future real estate investor should be familiar with various real estate investment strategies, such as investing in a rental property, fix-and-flip, etc. Second of all, terminology- the real estate investing industry is filled with different terminology. Consequently, in order to understand what other investors are talking about, it is a great thing to learn. Thirdly, in order to become the best in the real estate investing business, you should know how to locate the best properties before buying an investment property.
In the past, the real estate investor needed to know how to conduct all the analyses manually. Nowadays, you need to know what the best real estate investing tools are. Interested to learn more about becoming the real estate investor? Make sure to read “How to Become a Real Estate Investor vs. Real Estate Developer vs. Real Estate Agent.”
For instance, Mashvisor’s investment property calculator is a must-have real estate investing tool. This investment property calculator will give you all the numbers and will present the best investment properties. Moreover, planning on buying a rental property? This real estate investment tool will suggest the best rental properties based on different real estate metrics. Besides that, many beginner real estate investors struggle with the point where they need to select the rent price. Mashvisor’s investment property calculator does it all! Curious to learn more about the investment property calculator? Make sure to read “Investment Property Calculator: Do You Need One to Make Money in Real Estate?”
Finally, all this information about becoming a real estate investor can be found in some good real estate investing books. Further, there are great real estate investing blogs that you can find online and access everywhere and at any time. All you need to have is the will to learn!
What Does the Real Estate Investor Do?
Becoming an investor is one of the best real estate careers a person may think of when getting started in real estate. For example, he/she may consider becoming a landlord, house flipper, or even a real estate investing wholesaler. It truly depends on the preference and personality of the investor. Moreover, he/she may become a diversified real estate investor meaning that the investor implements different strategies. Yet, many investors prefer investing in rental properties, as rental properties categorize as low risk investments. Moreover, you have all the chances to invest in passive income investments. What do we mean by passive income investments? Well basically, your only responsibility is to invest money in a rental property, while a rental property management company does the rest.
Conclusion: Why Try a Real Estate Investing Career Instead
The reason for getting started in real estate investing instead of development is pretty easy to understand. Becoming an investor is easier than becoming a real estate developer. In addition, the investor is able to invest in passive income properties, while the developer should constantly be available and keep everything under control. Consequently, to learn more about how we will help you make faster and smarter real estate investment decisions, click here.