You work hard. You have a career that you’re proud of. But in the back of your mind, you know that there’s something more out there for you. While a career may bring you personal fulfillment and keep your mind engaged, you feel that you can supplement your income—maybe even find wealth—elsewhere.
At the same time, you don’t want to sacrifice all that you’ve built. Is it even possible?
You’ve tried investing here and there in the stock market. Maybe you’ve jumped on board with a few investments and seen meager returns or even lost your money. Anything more intensive, given your career, just doesn’t seem plausible.But we’re here to tell you that real estate investment isn’t out of your reach. You can build the supplemental wealth you’re looking for without sacrificing a fulfilling professional career.
Navigating Real Estate Investment for Busy Professionals
Rely on a Passive Real Estate Investment Strategy
Real estate investment, on the whole, can be a very intimidating venture. There are countless ways to get involved, each and every one demanding different levels of skill and involvement. For a busy professional, your best bet is going to involve a passive investment strategy. At the same time, you want to find a strategy that also gives you adequate returns and some level of control. REITs work for some, but if you truly want to build wealth, you don’t want to throw your money into a hodgepodge pool where you have no say in the matter.
It’s far better to seek out a balance between passive investing and control.
Where can you find that? Turnkey real estate. In this strategy, investors join forces with a turnkey real estate provider (like Memphis Invest), who not only allows you to invest in real estate without the stress and hassle of a hands-on strategy, but guides you through every step and decision so that no matter how inexperienced you may be in investing in real estate, your risk will be mitigated.
With an experienced turnkey partner lending you, their advice and expertise in the decision-making process for acquiring properties, renovations, and property management services, you can rest easy knowing that your investments are in good hands.
A busy professional can trust that a turnkey investment strategy will effectively take care of itself while also providing freedom, flexibility, and strong returns.
Focus on the Big Picture
As a professional, the last thing you need is to get bogged down in tiny details. For your investment career to flourish, your focus should be on the big picture. Instead of worrying about the day-to-day operations of your investments, your mind should turn to strategy. Think about your desired profit margins, how to increase them, and acquiring more properties this year. Consider scaling, breaking into new markets, and how to strengthen your partnership with your turnkey provider.
Your provider can keep you in the loop with anything you need to know about; but you shouldn’t need to worry about any of the details.
Surround Yourself with a Network of Support
Despite the fact that your real estate investments are largely a passive endeavor, they can still be stressful. You may find yourself feeling in over your head or alone—it’s important for every investor, no matter what strategy you employ, to find a network of support. That may mean seeking out other investors to build a friendship with. It’s always good to be able to talk shop and share leads!
Networking is a huge part of successful investing. It plays a key role in connecting investors to opportunities and resources as well as friendships.
Related Article: Networking for Real Estate Investors: 10 Do's & Don'ts
Beyond other investors, your main support system should be your turnkey provider. Remember, they’re there to partner with you. Whether you need advice on financing, deciding when to acquire your next property, or need help navigating any aspect of the real estate investment world, they’re there for you.
Set Up Efficient Systems
Because your time is not dedicated to a real estate investment career, your priority from the outset must be efficiency. It’s crucial for you to eliminate any potential time sinks along the way. That means figuring out the best way for you to organize and store your information regarding your real estate investments. Whether it’s online in cloud storage or in a traditional hard-copy filing cabinet, knowing exactly where and how everything is stored is essential.
It may also demand that you set up a separate business bank account for your investments or even an LLC. It depends on how you wish to operate your business and what is more convenient and streamlined for you.
Ultimately, many of the questions of convenience and organization ultimately come down to what will make things easier and cleaner come tax time.
For busy professionals, there is hope for building wealth beyond what you already have through real estate investment. Don’t let opportunity pass you by just because you believe you don’t have the time. Success in turnkey real estate investment is at your fingertips!
Ready to get started? Begin by learning how to become a bankable real estate investor.
