Have you been dreaming of finally investing in real estate? Maybe for a long time? Far more people are in the position of dreaming rather than doing. But we want to be doers! So what’s holding us back from just going for it already? It often comes down to financial preparedness. People either don’t feel they can fiscally take on this venture or don’t know what they need in the first place! Financially preparing to invest in real estate, particularly in single-family residences (SFRs), requires a solid financial foundation and strategic planning.

The Average Joe likely looks at the real estate market of 2024 in shock and awe. Prices are high, but mortgage rate cuts promised to bring everything back into balance. Meanwhile, data shows that the real estate market remains frozen, with only a tiny percentage of homes on the market changing hands.

In the information age, misinformation is a big problem. Plenty of people say whatever it takes to earn a buck, stir up controversy, or gain notoriety. It’s no different in the crowded world of financial and investment content. Take a look, and you’ll find your fair share of financial gurus offering empty, inactionable advice. And from people like that come plenty of myths…namely about earning passive income!

If you were to ask a room of SFR investors what the most crucial factor in success was, you would get a whole array of answers: the location, the property itself, the property management, accurate number-crunching…the list goes on!