2016 is upon us. Another year under our belts! No matter what kind of year you had, good or bad, you can look upon another chapter with new eyes. A fresh start. The challenges you faced in 2015 can be overcome, and the successes can expand and grow. We don’t know about you, but we’re looking forward to 2016 in a big way.

That said, we know not everyone had a great year. Maybe you’re feeling discouraged, be it in real estate investment, your career, or your private life. Those feelings are very real and it can be hard to look towards the future with optimism: but not impossible. You can rejuvenate your mind with wisdom from great men and women who know where true success lies.

Get reinvigorated by these inspiring quotes about success!

Ahhh. There’s nothing like a shiny new year to reinvigorate the spirit! Even if your 2015 was less-than-satisfactory, now is the time to start the year off on the right foot. To dust yourself off, renew your resolve, and get sh...., umm, get stuff done!  (Kerry Espuga would be frowning at me right now for using non-words like umm!)

If this is the year you’ve chosen to make the leap into real estate investment, great! If you’re a brand new investor, you’ve got a lot of work to do. Some of the biggest mistakes you can make will be right here, in the beginning.

So whether you are experienced or new, there are some steps you can take right now to start your passive investment path on the right foot.  We’ve got a few words of advice here and hope this helps you get going:

Investing in real estate, ideally, is about opportunity. Opportunity to get involved in a myriad of markets, opportunity to earn passive income, to save for retirement, to find financial freedom. This idealized image of investing in real estate is alluring in a real American Dream kind of way, but the reality doesn’t always live up to the dream.

For a long time, investors felt the need to keep their eyes only on the hottest, trendiest markets. San Francisco. New York City. Chicago. DC. They have this glamorous appeal that few other places do, and it’s hard to break free from that particular allure.

But really, the greatest opportunities for most real estate investors aren’t in these markets. Slowly, the real estate investment landscape is shifting to favor secondary and even tertiary markets. They may not have the same glamorous appeal, but these diamonds on the rough offer more than their sparkling sister cities.

The mention of the word budgeting can dry up any conversation in record time. But hey! Finance is important, especially to real estate investors. Budgeting is one of those things we all have to do, no matter how tedious it can be. A solid budget and a close, attentive grasp on your finances is key to success as a real estate investor, after all!

When it comes to money management, there’s no room for cutting corners. In the real estate investment game, no matter what kind of investor you are, the unexpected can throw a wrench in your plans. Anticipating those moments with smart money management and budgeting means that you’ll be able to handle anything that gets thrown your way. As the year winds down, there’s never been a better time to start thinking ahead.

So you want to get started in those whole real estate investment thing: but you’re a little worried about cash. Maybe you’re young and kind of broke. Maybe you just haven’t had the savings rate you would like. You don’t see how you can possibly save the capital you need to get started in the foreseeable future. It’s overwhelming and maybe you just don’t know where the begin!

But hey—there's good news! Many now-successful real estate investors were once in that same boat.

There are savings strategies that yes, demand work and sacrifice, but they will help you build up your capital so you can start investing sooner rather than later.

By Jennifer Riner of Trulia

While buying is largely considered financially savvier than renting on a national level due to almost historically low interest rates and increasing rents in major metros, loan restrictions and struggling to save for a down payment while renting delays homeownership dreams. According to a recent Trulia survey, 42 percent of renters say saving for a down payment is the biggest obstacle in buying a home. Poor credit, according to 27 percent of respondents, is the next hindrance, followed by qualifying for a mortgage, according to 24 percent of renters.

Millennials tend to flock to cities where jobs are prevalent and quality of living is high, favoring metropolises with green initiatives, urban development, cultural flair and accessibility. Metros including San Francisco, Manhattan and Los Angeles rank top for Generation X, but remain out of range for the average leaseholders’ and buyers’ budgets. Cities like Chicago, Seattle and Austin are also popular, but still expensive depending on desired neighborhoods. Three cities gaining in popularity amongst the younger generation include Memphis, Dallas and Houston, partially due to fair housing prices and new developments.

Check out these three more moderately priced metros and their recent home values, rent prices and mortgage rate tipping points* to understand where buying beats renting for millennials.

Turnkey real estate is all the rage right now in the real estate world.  More and more investors are looking for a way to get started in passive investments and the Turnkey route often looks promising.  The reality is, like any investment, Turnkey real estate is not always the best option and will not work for everyone.   

However, if you’re in the market for a more hands-off approach to investing, turnkey real estate just might be right for you. So much of deciding what kind of investments to pursue just depends on what you as an individual enjoy and value. 

To help you decide, we’re digging deep into the red flags you should watch for within yourself!  We have to be honest with ourselves as real estate investors to ensure the best outcome for our financial future.

The real estate investment experience can be enormously rewarding; not just financially, but in personal enrichment. Investing teaches us a great many things about economics, customer service, and money management. It’s a wealth of information that we’ll likely be able to pass on to the next generation to help spark their success.

But really, when it comes down to it, most of us are in real estate investment for one primary, ultimate reason: financial freedom.

We want to not only eliminate debt, but have enough to retire comfortably — maybe with enough to check all of the items off of our bucket list. But really, it’s not that easy.

Because honestly—freedom can be scary. Finally quitting your job can be scary. It’s ingrained in us to earn and strive for more, more, more. Stopping can be a strange prospect, and you can only be content to lounge on the beach for so long. So what will you do with your financial freedom? What will you do when your day job is gone? You’ve got passive income coming in. You have a list of things you want to do. But then what? What will you do with all of you time, money, and energy?

Real estate investor’s aren’t always buying. Even as a buy-and-hold investor, sometimes, you want to sell. Maybe a property isn’t working out for you, maybe your goals are changing. Maybe you just want to streamline your portfolio. Either way, there will come times—especially with many markets seeing returning and accelerating home values, when it becomes tempting to sell. But should you?

Many of our investors are investing out-of-state. They don’t call Memphis home, but they know that this place has something great to offer. Before really drilling down into the other six incredible characteristics that make Memphis such a unique city, let me add one that rarely makes too many lists.

The Memphis Invest & Premier Property Management teams!

This is an extraordinary group of men and women who do an outstanding job every day managing an incredibly large portfolio.  They are a tremendous factor in the success of over 1,600 real estate investors investing their hard earned incomes and retirement accounts into investment real estate.  This team is second to none in the country and they are an extremely unique value for real estate investors and this city alike!

Now, onto the amazing things that Memphis has to offer.  And boy, does Memphis have some amazing things going for it! Every city has problems, sure: we’re not trying to romanticize. But at the end of the day, we can’t help but love Memphis.

If you’ve ever considered investing here, visiting, or even moving to Memphis, let us tell you a few of the things that make Memphis so incredible.