Real estate investing is always exciting. There’s the thrill of achievement, knowing you’re going to take this investment property and do something amazing with it. You’re all set to accelerate your cash flow, expand your portfolio, and get one step closer to realizing your financial dreams.
But as we all know, making a deal doesn’t always come with good excitement. We all have our doubts from time-to-time: is this property going to give me the returns I need? What if there’s a problem no one caught? What if my number or wrong? What if someone outbids me?
When it comes to sketching out our real estate plan, there can be a lot what ifs and room for worry when it comes to making a real estate investment deal. Even seasoned vets may find themselves getting butterflies from time-to-time.
But you know what? There’s good news. There are things you can trust, no matter what your next deal looks like.
3 Things You Can Trust During Your Next Real Estate Investment Deal
1. Your Numbers
Math is ultimately unbiased. As they say, numbers don’t lie—and when you dedicate yourself to working with real numbers and letting them speak to you, it’s a lot harder to go wrong. Ask yourself: does the math of this deal make sense? The same thing goes when it comes to your offer: you can spend a lot of time fretting about other bidders. You can worry about what they’re going to offer, how much more should offer, or what people will think of your offer.
But guess what? None of that matters.
You have to have confidence not only in the numbers behind the property in terms of generating positive cash flow, but confidence in your bid. Set in stone how high you’re willing to go. Run those numbers, too. Figure out where a property is still worth it to you and where it’s not, especially in high-competition markets where bidding can get out-of-hand.
Even if it means you lose out on a deal for sticking to your guns, that’s okay! You don’t have to win them all, and winning the wrong one can be worse than losing out.
2. Your Experience
If you’ve been in the real estate game for awhile, you know how things go. Your experience, as with any industry, is one of your biggest assets. Even if there are days you feel like an impostor or otherwise inadequate, remember: you’ve done this before. No, every deal isn’t the same. No, you can’t predict everything. But you can trust that you know what you’re doing. You know what works and what doesn’t. Trust in that.
Don’t let doubting in yourself get in the way of making a great deal and fulfilling your potential as a real estate investor.
When you’re experienced, that means you know what red flags to look for. You know what numbers need to add up. You know your plan and your goals, and are best equipped to achieve them, period!
3. Your Professionals
But then, maybe you aren’t all that experienced. Maybe you only have a few deals under your belt. You’re still trying to figure this whole investment thing out. Hey—everyone has to start somewhere. Or maybe you just haven’t bought in this market before, and don’t feel confident to make the right decision when you aren’t as familiar with the real estate landscape.
If you don’t feel like you have experience to lean on just yet, lean on someone else’s. That could mean asking other investors for advice, seeking out a mentor, or bulking up on books and podcasts. But honestly? It might be simpler than that.
It could mean trusting an experienced professional with the property inspection. Or better yet, it could mean trusting a reputable turnkey real estate investment company!
Turnkey real estate is great for any investor, but particularly for those who are still learning. Not only is it accessible, but you…:
- Benefit from their market & real estate knowledge.
- Have a shorter transition from purchase to passive income.
- Can take advantage of in-house property management services.
- Work with people who have a vested interest in your success.
If you’ve ever wanted to give investing in real estate a shot but were never sure how to start, we absolutely suggest turnkey real estate.