2023 presented some unique challenges for real estate investors. But as much as we can bemoan rising interest rates and stubbornly high property prices, the current market – and the market we’re likely to see in 2024 – has a lot going for SFR (single-family rental) investors.

Remember: your success in this business isn’t decided by the sway of the market. It all comes down to your fundamentals and a willingness to adapt your strategy to suit your needs under the full gamut of market conditions.  Including...remembering that time in the market matters more than timing the market.  Just getting in, getting started or getting growing is enough to put an SFR investor ahead of the masses who are waiting for big shifts and changes before making their next moves.

It’s hard to deny that 2023’s real estate market has been frigid. After all, this year’s total home sales are shaping up to be at the lowest levels since 2011 and the peak of housing crash-induced buyer anxiety. That said, the experts are feeling cautiously optimistic about the real estate market for 2024.

It might be cliché to think of a new year as a clean slate, but it can still be a beneficial way to think about it. Besides getting in shape, financial health is one of the top priorities among those who make New Year’s Resolutions. Regardless of where you are with your financial goals, now is a great time to refocus. And what better way to do that than through a financial advisor?

Tired of making the same old resolutions about finally using that gym membership? Maybe it’s time to shift your gears towards financial resolutions. Real estate investors are in a prime position to renew their efforts in the new year, riding the wave of resolve. But what should a passive real estate investor’s new years’ resolution look like?

Investor-influencer Grant Cardone was recently in hot water in the form of a class-action lawsuit alleging fraud and false promises through his real estate investment fund. You can read all about it on Bigger Pockets (linked above) and other news outlets. Regardless of how the lawsuit has turned out, we see it as a cautionary tale to passive investing hopefuls.

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:

Starting something new, particularly when there is money involved, can be as daunting as it is exciting. For new real estate investors especially, getting going can be overwhelming.

On top of trying to learn about real estate investing itself, there are countless new laws to learn, from insurance and taxes to properties and tenants. You may be afraid of making a mistake, losing money or outright “failure”...and that’s all natural.

Instead of fretting about what could go wrong as a green investor, focus on taking the steps that will set you up for real estate investment success.

To quote the wise William Shakespeare, “To invest in real estate, or to not invest in real estate, that is the question. Whether ‘tis nobler in the mind to suffer the slings and arrows of outrageous fortune…”