There’s no doubt, however, that going from not needing much experience at all to turn a profit to being the one in charge of your own success is more than a little nerve-wracking.
Investing in real estate takes an enormous commitment financially as well as in other aspects of your life, but it doesn’t have to be an intimidating endeavor.
You can remove any doubts about whether or not investing in real estate is right for you by acknowledging these four simple concepts.
You can pre-order your copy of The Turnkey Revolution, the first book release from Memphis Invest chronicling the best advice on how to safely build a passive portfolio from real investor experiences!
One of the best secrets to a real estate investor’s success is their team. Though you may be at the helm, it is those who are on the ground doing the work that are the key to your success. If you’re worried about investing in real estate because it's not something you have experience in and the idea of taking charge doesn’t make you comfortable, you don’t have to worry.
The answer lies in turnkey real estate investment. You can have the best of both worlds. While you remain 100% in control of where your money goes, what properties you’re investing in, and what direction you go, you have the distinct advantage of an experienced turnkey investment company who knows the markets that you’re investing in, knows this business backwards and forwards, and has all of the experience that you may not.
They not only guide you through the process and take care of the details, but they can actually provide counsel and advice on which steps are right for you and your portfolio moving forward, whether you’re just starting out or you’ve been working with them for years.
Related Article: An Inside Look at Turnkey Investing
Together with a turnkey partner and their property management team, you can find real estate investment success while also being in charge of your own financial future.
If you are at all a perfectionist, you likely don’t enjoy doing anything without assurance of your success. Where real estate investment is concerned, this is not a strategy that will work. Real estate investment inherently comes with risk: a chance that something won’t work out. There will be failure along the way.
As a real estate investor, you’re not going to start off with all of the answers or a fool-proof strategy. Once you accept that you won’t be an investing wizard from the beginning, you’re going to do much, much better in this business. You’ve got to accept that you don’t know everything because it opens you up to learning. You’ll be able to then grow in your knowledge and expertise, make fewer mistakes, and grow your wealth.
Where stocks, REITs, crowdfunding, and other investments fail is that they treat every single investment and investor the same. Money is money regardless of who it comes from, what that person wants or needs, or why they’re investing in the first place. You just put your money in and what you get back only really depends on how that investment performs. There is strategy involved, but it has mostly to do with betting on the right horses in the race, so-to-speak, and cashing out at the right time.
Certain investments can feel a lot like gambling!
Related Article: Overcoming Challenges for New Real Estate Investors Episode 1
So what really sets investing in real estate apart? Because you’re in charge and directing everything yourself, you’re taking into account all of the unique factors and needs that another investment doesn’t care about. For example, you can make real-time micro-adjustments to account for market fluctuations and very real and changing financial situations in your life. You also know what markets are really best for you to invest in relative to the market you live in and can accurately target them.
And again, you don’t have to do any of this alone. You make the decisions, but you can always lean on the advice and information you can gather from your team—turnkey advisors, property managers, accountants, and more.
A tailor-made approach to investing means that you can truly maximize your results.
Lastly, realize that taking charge of your own investment decisions from the top is freeing. While in the beginning, it can be scary and even paralyzing, taking that plunge is rewarding. You won’t be able to go back to not being in control of your own investment portfolio.
With the right team by your side, taking charge of your own investment success is a breeze. You can fulfill your investment potential with Memphis Invest.
Trying to start a career in real estate investment? Pick up the Turnkey Revolution to build a solid foundation and dispel your doubts.