2 biggest issues new investors say they haveAug 13, 2021
Good day investors! I hope you all had a wonderful holiday season. In 2020 we saw a lot of changes. 2021 has given us a promising start! Here is to everyone’s success and for a prosperous 2021.
People opt in to Boston AREIA everyday. And one of the questions asked on the form is what do you feel is your greatest struggle in real estate investing? Invariably, I get 2 responses.
- Finding the money to do the deal
I always tell people, whether you are wholesaling, rehabbing or focused on buy and hold, finding the deal is the most important part of the equation. Then you are in the driver’s seat and you can cherry pick the properties that you want to rehab or hold and you can wholesale the rest. There are many ways to find deals. You can prospect on Craigslist, network at meetings, go to auctions and auction sites, run direct mail campaigns, develop a strong network with real estate agents and more. The key is you need to be consistent with your marketing efforts.
It’s important to have a strong presence online as well. It’s not the be all end all to finding deals. But, it’s important that you have a presence online when people are researching you. Perhaps you run a direct mail campaign or you meet someone at a networking event, many people are going to look you up online before they call you or work with you. Therefore, it’s important to have a website, a strong FB page and preferably some reviews from folks you have worked with in the past. This brings credibility to your business. And, that is the one thing most new investors are lacking in real estate. If you can build some credibility for a low cost monthly, it’s worth it.
Finding money is easy as long as you have a real deal. As long as you’ve done your numbers correctly, you used a good project estimate worksheet to run your rehab numbers, remembered everyone who is supposed to get paid from the lawyers to brokers, then finding the money is easy. There are tons of lenders out there who want to lend their money, over and over again. I don’t market specific ones on my website because I value my relationship with all of them. But, if you are looking for a lender, be sure to reach out to me and I will make a connection. [email protected]
Remember, as long as you have systems in place online marketing is simple and be sure to run your numbers properly and the money will never be the problem.
Bernadette Trafton, Chief Connector
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