It is amazing that only 30% of Americans have a long-term financial plan that includes savings and investment goals. Aren’t you glad you are one of these people? Anyone who is investing in real estate has to know about the numbers. I’m talking about available cash, leverage, mortgage rates, and cash flow analysis, NOI, ROI and ARV, and so many more formulas to figure out. This is all necessary information in order to find a great deal, figure out a rehab, or manage a rental portfolio. In addition, having the right tools, like Quickbooks or other property management software, is essential.
The most common reasons people invest are to be stewards of their financial plan, to have money left for retirement, and to leave a legacy for their family. My mission is to educate investors, to help them network and stay ahead of the market.
Real estate investing is complex business and that is why, for over 10 years I have provided the Affluence Real Estate Investors Association meetings on the second Wednesday of every month. http://www.meetup.com/Affluence-In-Real-Estate As smart investors, we need to keep up with what is happening in real estate, discover the trends and tips. Each month you’ll be able to network with others who’ve done it and to dig into one or more aspects of real estate investing.
Also at our monthly meetings, there are deals being done and team members to pull in, information being swapped. One of the things I love is that real estate investors are friendly people, just the kind I like to hang out with.
It’s depressing to know that a 2017 report in MarketWatch found that half of American households currently live paycheck to paycheck, 31% have less than $500 in emergency savings and 44 million have student loan debt. Real estate investing changes all that….and it’s not that difficult. Just show up, learn and get started – we just shared how $1000 can buy your first duplex at one of our past meetings.
For those experienced investors who have a portfolio, the question is different. How do you maximize your leverage and grow a thriving business with real estate? Are you getting the most out of your current investments? One of my favorite books is The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges. It’s written in 2002 but those ideas of creating and adding value still hold true in any market. Sometimes all we need is a little nudge to get going on a new creative idea. I just heard one not long ago, it’s called RUB, or Reimbursed Utility Billing. Yet another way for an investor to capitalize on their properties.
What are YOU doing to create financial freedom in real estate? Do you know your numbers?