If you’re considering creating a solid career in real estate investing, it’s important to have a solid strategy in place. In this episode, Mark, Taylor, and Jason share their insights and experiences of a successful partnership, walking us through their deals, strategies, and lessons learned.
Mark, Taylor, and Jason understand that one key to success in real estate investing is tailoring your approach to the investor’s unique strengths. This ranges from the type of strategy (short of long-term), or property type (single family or multifamily), depending on the situation. If you are going to take on a partnership approach to investing, an added crucial factor is setting clear roles and expectations within the partnership, and leveraging each member’s strengths and expertise to close more deals and build a strong real estate portfolio.
We often recommend picking a niche and a market, and sticking with it. Mark, Taylor, and Jason show us why sometimes it is best to NOT take this advice, and they have been wildly successful in just a few short years by trying a variety of different strategies and locations, all of which have been very well-thought out.
Our guests today explain how they meticulously researched different locations for investment, through gathering and analyzing data on factors like population, employment growth, and median income, and using software to compare results and identify promising opportunities. However, it’s important to remember that real estate investing is a middle to long-term investment that requires patience and a focus on adding value over time.
To accelerate your success, Mark, Taylor, and Jason suggest learning from books, podcasts, and blogs, networking with other professionals, and optimizing workflows within your team. By following these tips and tricks, you can achieve both your personal and team goals and build a thriving real estate business! As a bonus, make sure to stick around for a hilarious hurdle the guys overcame during their last purchase.
In This Episode We Cover
- Test different real estate investment strategies and markets to find the best fit for your goals.
- Research local market conditions and regulations when considering new markets.
- Small commercial properties can offer attractive returns and stability.
- Compare data from different rental strategies to determine the most profitable approach.
- Be patient and realistic about how long it can take to add value to a property and achieve financial freedom.
- Develop a solid system for analyzing deals quickly and making informed decisions.
- Know your strengths, plan ahead for contingencies, and stay up to date on industry trends and best practices.
- Building up your “real estate muscles” takes time and repetition, but dedication and a willingness to learn can lead to long-term success.
- Invest in yourself by continuing your education and learning new skills.
Help Us Out!
We want to know what you want to hear! What struggles are you having in your real estate investing journey? What has you stumped? What will help you level up your investing game?
We want to know!
Please send an email to [email protected] to submit your answers!