You Got the Power
You are a strong, independent real estate investor. On the way to riches, Mashvisor is by your side. Making money in real estate is the aim. It always has been, and always will be so long as you’re in the real estate business. Owning an investment property is what you do best. It is what you were born to do. You have what it takes, but we want to give you those “cherry on top” aspects.
These are the tips on how to mold your real estate investing work ethic so it is bound for success. Mashvisor’s property analysis software and your one-of-a-kind real estate investing methods will change the real estate investing game. Let’s work on forming the best investment portfolio out there. So what will maximize the power that is already in your hand? Read on & see.
Purpose: Investment Property Ownership is Your Destiny
Being a real estate investor means taking risks, being diligent, and integrating cleverness in all you do. There’s a bunch of lions out there after your steak, so are you just going to let them take it? You need to believe in yourself before anything. No, we’re not trying to sound like motivational speakers, but realistically this is what it’s all about.
Believing in yourself, while having the confidence to take the risks you know are out there are what pave the way for rental income. If you do it just to do it or feel that “you’re not good enough” for the task at hand, you will remain mediocre. Mediocre doesn’t make the millions, a smart risk taker does. This is not just a job, it is a lifestyle.
Related: How to Know If You Were Born to Succeed as a Real Estate Developer
Being one of the most successful real estate investors means starting with yourself. If you have any hopes of your investment property to make you rich, you need to have the mindset to start. Nothing will be handed to you on a silver platter, so instead, work your way up.
Make it clear to both yourself and your team as to what your purpose and goals are. Choose real estate investment strategies that match that goal. Use real estate investment tools that meet your needs. Don’t just settle. With Mashvisor, you won’t be settling. Instead, you will be spoiling yourself with real estate investment tools like a property analysis tool, a rental property calculator, and a real estate market analysis tool. Make the most of what you could potentially have, it’ll be more than worth it in the long run.
Talk the Talk: Work on Your Real Estate Network
Speak that real estate investment vocabulary we all know and love. We’re not the only ones that love that vocab. Other income property investors, a real estate developer, and a good real estate agent do too. Your real estate investment team is going to be a big one.
You want it to consist of individuals that do their job right and share a similar vision as you. If you all have the same goal to achieve a successful investment property, you will. This is where your real estate network comes in handy. Get to know people, use those investment networking skills we know you possess.
Put yourself out there and get your voice heard, while doing the same. Keep an open ear and pick individuals you sense to match your same ethic. One common goal, one common will, results in a common way. That is just what you need when you want to make money in real estate.
Related: Creating a Real Estate Investment Network: Who Do You Need?
As a property investor, you should be going to networking events. You may feel out of your comfort zone initially, but it will be well worth it. Chances are, you are going to meet exactly the right people to help you accelerate your growth when investing in real estate.
Crunch the Numbers: Know How to Value The Property
So you can go about this the best way possible: use Mashvisor analytics. Doing a proper property valuation can get tricky, and there are a good amount of factors you may leave out. However, with the use of the real estate analytics brought to you by Mashvisor, you will like the numbers in no time. Cash on cash return, cap rate, and Airbnb occupancy rates are only some of the analytics we can provide you.
To start your 14-day free trial with Mashvisor and subscribe to our services with a 20% discount after, click here.
If you are a beginner in real estate, starting out in property investing, it can be hard to know what to look for. Comparing real estate market analysis for different investment properties can get tricky. Mashvisor can do the “dirty work” for you.
However, the more experience you gain, the more comfortable you will get with investing in real estate. Watch as you mold yourself one of the best investment portfolios. With Mashvisor, you will have the accurate valuations to close the best deals.
Let’s Hear Those Investment Property Negotiation Skills
You’re a lion in the real estate business. You have to fight for the title of King, or Queen, of the real estate jungle. How? With some developed negotiation skills. Don’t be afraid to go out there and do some debating.
Negotiating is important to keep in mind no matter who you are speaking to when you’re doing an investment property transaction. Whether it is a real estate agent, a vendor, or a homeowner, keep negotiating!
Related: 8 Negotiation Tips for Buying an Investment Property
Being able to negotiate is not just about understanding the value of a property or knowing the reason the investment property is on the market in the first place. Negotiation is all about putting the elements together with the hopes of getting as much value for that investment property transaction.
When you commit to an investment property, you are going make a good amount of your money when you actually buy it. There are no turnbacks, so once a deal is done, you can’t change it. Never, we mean never, overpay on an investment property.
Putting up a fight on a deal is crucial, especially when you consider the investment property value. To put this in clear view, let’s say you’re negotiating a 5% discount on a $100,000 investment property. 5% may not sound like a lot, but that is $5,000! Now we both know you could do A LOT with $5,000 dollars. Every penny counts in real estate investing, so make sure you’re not selling yourself short.
The Grand Finale
So we gave you the outline of a great work ethic that will drive you to success in real estate. Where to now? This is not a “set in stone” rulebook. As a real estate investor, we encourage you to tweak and twist this outline as much as you like. Adapt it to your own personal wants and standards. Add to it, subtract from it, divide, multiply, whatever you want! Owning a successful investment property is within arms reach, so go out and grab it.