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6 Tips when Investing in Real Estate with Creative Financing

🎯 Hope for the best but plan for the worst. — I can’t tell you how many times I’ve heard Joe say this phrase.

I think it’s super helpful because sometimes we are in research mode— analysis paralysis and do nothing. vAnd then sometimes we can take a leap without really knowing where we are going to land.

Spend some time planning. But at some point you must take action! If you surround yourself with the right people you’ll be able to jump in and still get some help when needed.

You don’t have to have it “all figured out” when it comes to real estate. It’s all about one move after another. The best way to learn is by doing.

*️⃣ Don’t shortcut things like not using attorneys because you “think it will be cheaper.” Pay people to do what they’re experts in! It may cost you more in the long run if you don’t.

*️⃣ Take time to learn about details such as buying in Land Trusts and how many properties you should have in an LLC.

*️⃣ Have money to cover unexpected expenses in your business. Things happen and come up, so it’s important to not spend ALL the cash.

*️⃣ Work with your CPA closely throughout the year so you’re not overwhelmed at tax time! Nobody likes surprises that you owe way more than anticipated.

*️⃣ Know what strategy to buy and sell works best for you, the seller and the buyer.

*️⃣ Put people first! Profits will come.

Go out and buy as many properties as you can with non recourse debt!! 🎉

Don’t know how?

 

Start by checking out one of our Masterclasses.  Want more? Sign up for our 6 month mentoring! Be sure to follow us on Instagram for daily motivation! 

 

*Not financial or real estate advice.  We simply share what works for us.*