But the bottom line is that real property is always valuable and as the market recovered, it became clear that there were great deals available for those willing and able to find them.
Yet, how do you become one of those who can find the good deals? Do you have to be an expert in real estate or finance to benefit from the rising markets? A lot of experts took a great loss a few years ago and learned lessons the hardest way, maybe even losing properties.
It makes sense that real estate investors are taking fewer risks, looking at deals very carefully and perhaps tiptoeing into the current market rise with caution. What if you’re one of those new folks just starting to think about an investment or trying to keep an investment above water by putting it to work as income property? My brother and I inherited our mother’s house a few years ago and had to learn how to be landlords. Where does the average person go for advice or education?
Whether you’re a seasoned investor or are just considering it, there are some great new resources that have emerged in recent years. Thank the growth of the internet and social media for many of them. More education and information is the key to reducing your risk in any investment, so if you’re getting your information from reliable sources, you stand to reduce risk.
LinkedIn.com is a social media site that was founded for business professionals as a place to share information, find jobs and connect with others in your industry. Most of the people who use it act in a very professional manner and the rules of engagement keep the spammers to a minimum. You can create a profile about yourself or your business, then start connecting with others. The great resource for real estate investors is the abundance of groups that are organized there just for the purpose of discussing the market. In fact, you’ll probably be able to find one that is geared to your own city or state. Join some groups, ask some questions and aim to make some local connections. With the LinkedIn support groups, you can peruse the shared information and articles for as long as you need to feel comfortable or spend some time to make connections that will help you pursue your specific goals.
Another resource you may find among the LinkedIn.com groups is a new philosophy called a real estate investors club. There are several ways these are set up so be sure to find one that fits your purposes. The basic idea is to provide an environment for teamwork among real estate agents and their customers, whether individuals or investors for support through the process of buying, selling or renting a house or business. If you’re an investor, especially a new investor, this teamwork philosophy could be the right answer to safely and efficiently provide you with the information you need to attain your goal.
Check also to see if your area has a group on meetup.com. I live in New Mexico and there’s a group at www.meetup.com/NMREIA that meets together every month to share information about investing. The September topic is “Fast Track to Full Time Investing” and they welcome guests for a $10 cover charge. They have a speaker each month that focuses on financial education, foreclosures or some educational aspect of real estate investing. You can look for a similar group that meets near your home or near the area where you want to invest.
You can also make comments here with your specific questions and we can help you do some research. This upswing in the market promises to be an exciting time if we all do our homework and make smart choices.