Real estate investing is becoming increasingly popular among those looking to expand their financial portfolios and maximize their return on investment. The real estate market has offered many attractive opportunities for investors, from flipping properties to buying and holding rentals, with each type of investment carrying its own set of risks and opportunities.
With this high demand, real estate has become increasingly complex. Technology and new regulations have changed how people buy, sell, and manage properties.
Real Estate Coach Noelle Randall understands that these may seem a bit overwhelming to beginners trying to find their way in the industry, so she listed out a guide for beginners to successfully navigate their way in real estate investment.
1. Don’t be intimidated by the competition
With real estate standing as one of the most in-demand industries having lots of people already investing in it, Randall shares that beginners should not feel intimidated. Instead, they should start as a novice rather than as advanced people. She advises, “Do not just jump in and start doing what all big investors are doing because they grew on that level.”
2. Start with the concept of wholesaling and deal compounding
According to Noelle, beginners can start their investing journey by following the concept of wholesaling. This is looking for people with property problems – people who are behind on their mortgage or those who are having issues with their properties – and connecting them with investors who can provide solutions.
“Wholesaling ” was life-changing advice from a coach when I was down and facing the worst situation of my life. I connected with people who experienced the same situation I did by sharing with them my story and how they can avoid what I had been through,” Randall explains.
Because of this concept, Randall could get these people under contract and flip these contracts to real estate investors looking for properties. She earned her income through referral fees and the deals she created for them.
“This whole concept is a win-win situation for all. I win by getting a referral payment, the investors win by finding the property, and the seller (those with property problems) also wins by getting their problems solved. It is making everyone money in the process,” Randall adds.
3. Find sellers and be able to talk to them
More than focusing on the property, Noelle advises beginners to focus on the person (sellers) and how they can solve their problems. They should know and understand the seller’s current situation, such as their plans, the money they need, their debt, the number of months due or the number of months they paid, and the necessary steps to solve their problems.
Randall elaborates, “Because beginners are just starting, they would not know everything – but if they can connect to the seller’s current situation, they can successfully flip the contract to a more advanced investor and help both parties. Newbies need to stay where they are and focus on helping the seller by solving their problem.”
4. Learning from more experienced real estate investors
Immersing with more seasoned investors in the industry and learning about their plans is one of the best ways for beginners to kick-start their investment endeavors properly. Knowing more about the right strategies and processes for fixing and flipping properties can save a beginner from potentially costly complications.
“As a beginner, fixing and flipping houses on your own is probably not the best thing to do. It is not about the properties but about the people. Focusing on the people and not the property is how you start your journey as a newbie in the real estate industry,” Noelle explains.
5. Establish business credit
Randall shares that one of her earliest mistakes was not establishing a business credit immediately. According to her, beginners don’t have to dive head-first into wholesaling or fixing and flipping properties before getting funded by business credits.
“Beginners can get higher limits through business credits. They can also have credit cards, credit lines, or loans in their business name,” she expounds.
Noelle Randall is inviting beginners to discover the secrets of successfully attaining business credit for their business by joining her GROW YOUR WEALTH CHALLENGE, a live webcast event happening on January 14th and 15th.
Strategizing for success Investing in real estate can be a rewarding but complex endeavor, especially for beginners. It requires a lot of research, planning, and good decision-making. Therefore, beginners must do their due diligence and consult with experts like Noelle Randall to make informed decisions. With the right strategy and resources, newbies can be experts in real estate investing in no time and turn it into a beneficial and profitable venture.
