Let's talk about a topic that most real estate investors really hate to talk about, think about and sure don't want spend too much time reading about.  Rental property management!

This topic is about as polarizing as politics for real estate investors because so many have specific thoughts and beliefs.  And to be sure, property management is a tough business. Unfortunately, there is a ton of mis-information, innuendo and just plain false stories about the property management business.  

For investors who have taken on landlord responsibilities, you know just how demanding it can be. But most real estate investors never deal with the nitty gritty details of property management, even if they understand what goes into it. 

Unfortunately, that theoretical understanding of the gargantuan task of property management means that too many investors are willing to overlook quality to save on costs.

We understand—really. After all, you’re in this business to make money, and if you’re spending a ton on property management, it means fewer dollars in your retirement accounts when rent is due. Right?

Not so fast.

Its never too early to start planning for taxes!  It may be tax day 2016, but we have a fantastic webinar with Amanda Holbrook, formerly with Memphis Invest and currently a superstar at Specialized IRA services, to help you get planning for next year!

If you invest in real estate, there is a trend that you need to know about.  For real estate investors, and real estate professionals in general, big data is slowly transforming how we do real estate, especially when it comes to the buying and selling process. But it goes deeper than that, too.

Big data, more than anything, is making things more accessible, more transparent, and less risky for real estate investors. But how, exactly? What does it mean for investors?

Defining Big Data

Forbes has one of the best definitions of big data we’ve seen:

"Big data is a collection of data from traditional and digital sources inside and outside your company that represents a source for ongoing discovery and analysis."

This data can be high-volume or high-velocity to be “big,” and it’s only worth anything to you if it’s accurate. After all, making decisions based on bad data will wind you up in a world of trouble.

I don't know about you, but my email in-boxes get overwhelmed on a daily basis.

Every day I receive unsolicited “advice” emails wanting to inform me of the latest and greatest when it comes to real estate investing and wealth. It is truly overwhelming to read many of the emails and see how outdated much of the advice is.  

As human beings, we’re all prone to making  excuses for ourselves. Everyone deals with insecurities and fears—it’s natural. For anyone looking to have a successful business of any kind, getting past the excuses born out of these fears and negative thoughts is a crucial first step.

Getting into the business of real estate is an infinitely rewarding journey. Investing now means building up a solid financial future: something you, your family, and future generations can depend on and enjoy.

Investing in real estate, however, isn’t as simple as just starting. It’s a business that demands a lot of education and time to be done right and profitably, and, really: the stakes can get high. Should that deter you from starting? Absolutely not! The reward is worth the work it takes, and many times over.

Investing in real estate just isn’t a get-rich-quick scheme, and if that’s what people are expecting, they’re in the wrong place!

Beyond getting started, there are questions you as an investor have to answer for yourself: what kind of investor do you want to be? There are endless opportunities out there to fit the particular style that captivates and excites you.

In residential real estate investment, there’s always contention between investors that prefer single-family investment properties and those that prefer multifamily investments.

We’ll go ahead and say this: absolutely every investor will have their own preferences. Every type of investment will have its own pros and cons, and what attracts certain people may not sway others. What might be your deal-breaking flaw might not be someone else’s.

That said, there are some very clear advantages and disadvantages between single and multifamily properties that should be considered. As a real estate investor, you may want to experiment and try it out for yourself!

Many investors choose to start with single-family properties simply because the barrier to entry is lower. Some prefer to invest in both, while others prefer to deal exclusively in multifamily housing. Others specialize in something else altogether!

Ah, procrastination. It’s a big bugaboo for  at least 20% of people in the United States, according to psychologists. Most of us think of procrastination as just putting off work, but it can be more than that. Procrastination means coupons expire, gift cards go unused, and the laundry gets done only when the clean clothes run out.

Procrastination is missing out on opportunity. If you’ve ever struggled with procrastination personally or professionally, it can be stressful and frustrating—especially when you don’t know why you keep doing it.

For the real estate investor, seizing opportunity is at the forefront of your responsibilities. Overcoming your patterns of procrastination will take time and small, consistent efforts. When you examine why you procrastinate and discover what gets you motivated, you’ll finally be able to achieve your true potential as a real estate investor.

Who doesn’t love a good podcast? If you haven’t decided to start listening to podcasts, we encourage you to give them a shot. They’re great when you’re traveling, commuting, or even doing low-focus tasks that allow you to listen.

We live in a world where pretty much anyone can start their own radio show over the Internet, and while there are definitely some duds out there, there are some real gems, and ones that real estate investors can learn from.

These are just a few business and finance podcasts we’ve found that you might want to check out!

April 29th & 30th, 2016 in Dallas/Ft. Worth, Texas...

We're Bringing The Team To Texas To Meet Our Clients and New Investors!

Memphis Invest Is Bringing Our Team To Our DFW Metroplex offices in Grapevine, Texas and you are invited!