Sunday, 1 September 2019

When you become prosperous with your investment journey

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When you become prosperous with your investment journey


 you will also someday mentor someone else who needs a hand at the start of their investment journey. Investment seminars Seminars are a way of getting a face-to-face educational experience if you feel it is what you need. Conferences and workshops are mostly paid events, especially those with reputable experts and investors who are changing the game. I advise that you attend seminars after getting started with investments for a while because they are a great way to network with other investors and you’ll learn plenty of strategic tips that account for market fluctuations. Although there are some free seminars available, they are mostly organized by real estate experts who want to pitch something to you or sell you on more services. However, you should invest in seminars conferences and master classes organized by seasoned real estate investors who have been investing for a while with success stories to show for their effort. If you can afford the cost, seminars can be beneficial to the knowledge you gain and the contacts you make. Many seminars have a nice mix of new and seasoned investors, and you’ll certainly meet many interesting people and make new friends. Newsletters All you need to receive newsletters is to subscribe with your email address, and you will get relevant information on what's going on in the real estate investment world. Numerous real estate companies offer newsletters to existing and potential investors that they send out periodically. The best part of receiving newsletters from field experts is that you’ll receive the latest most up-t0-date market information, and some provide interviews with successful investors. Before signing up for any newsletter, be sure it’s legitimate and from an authority. You don’t want your inbox clogged with spam. Stick to valuable and helpful newsletters that will keep you on your toes as an investor and keep you inspired. Webinars Although some webinars are an opportunity for the facilitator to make a sales pitch to you, they can be beneficial, especially at the beginning stages of your investment journey. If you are a first-time investor, then it isn't advisable to spend a lot of money registering for highly-priced seminars you cannot yet afford, but if webinars can give you the information you seek at this early stage, please utilize it. Most webinars are free, and they are remote as well, you can take them anywhere you are so long you have access to the platform. Webinars also require minimal time commitment as most of them are between 45-90 minutes. Webinars focus on a specific topic; you receive insight as to the details of the subject, and it is an effective way to gain mastery over an aspect of real estate faster. At the end of most webinars, the presenters introduce a Q&A session where you can ask questions, and this is also an avenue to learn from the answers proffered to problems. Now not all webinars are beneficial, so before you sign up for one carry out a background check on the facilitator. Ask questions about the presenter's qualifications and try to find investors who participated in previous webinars. If the webinar was highly effective, then go ahead and pay for a more detailed session. Another reason I also advise new investors to use webinars is that it is a platform to get the basic ideas of investing. Getting ideas from others is one of the reasons why investor education is crucial; if you don't know better, you will use your funds the wrong way. But when you gather bits and pieces of information over a period, you gain knowledge on how to launch into the market successfully. Podcasts We live in a fast-paced world. It’s sometimes difficult to dedicate yourself to reading the way you would desire. If you can read books, please do, but if you struggle with consistency, please don't give up; you can rely on podcasts. There is an increase in the demand for podcasts. Lately, it's because people are busy, yet they crave value through the learning process. You can be carrying out a task while learning how to become a great investor by listening to a podcast. You can tune in while driving in your vehicle and if you miss a part of it, most often you can find archived shows on iTunes or the host’s blog or website. 'What's the best part about a podcast? They are free! You will be getting superb content without paying for it, and most podcasts are ad-free as well. Most real estate experts have podcast channels so you will be gaining access to their wealth of knowledge just by downloading an app or searching iTunes or the Apple shop. With podcasts, you are exposed to a wide range of perspectives as most podcast hosts interview professional guests. Podcasts are a valuable aspect of the real estate educational process. Blogs Whatever you want to learn in life someone has written about it, and it is most likely on a blog. There are times you will need a long-term course, and then there are times all you need is quick access to information for an immediate situation. Blogs are straightforward, and if you are reading them from a dedicated real estate investment page, you will be getting detailed information. Blogs are an excellent educational tool because the information will always be there when you need it. So if you read about a particular area on a blog and two weeks later you find that you might have to invest in that area, you can smoothly go back to the blog to retrieve details you will need to make a more informed decision. If you forgot to bookmark the page, you can usually find it in your internet history. Also, some blog posts are in parts, the topic might be the same, but because it is quite a specific content it’s broken down into several posts over several days. Blogs are also useful because you get to read through comments from other investors, and this is where it gets real. From the comments, you will be able to tell if the ideas shared on the post will be practical. The comment sections on blog posts will also give different ideas from investors on other aspects of investments and insight on the latest trends. Online Courses Online courses are comprehensive and detailed; hence, the reason they are an excellent choice for real estate investment education. There are quite numerous online platforms that offer such courses, and if you want to add more knowledge to what you already know about real estate, you will find them beneficial. The most powerful feature about online courses is that they help you retain what you learn long-term. Unlike a blog post, you read through once; online courses keep you accountable. Most courses have a longer duration; they usually cut across several weeks. Most online courses allot you a specific time for completion, and you will be given an assignment or project that is tailored to ensure you fully grasped the lesson. If you take the assignments seriously, you will internalize the content taught, and it will become real to your experience. Another thing you should note is that online courses can be theoretical and practical at the same time. Sometimes, you sit back and listen to the facilitator, and there will be sessions when you need to experiment with the theories to test their veracity. Online courses are like being in class with a teacher; after the duration of the lecture, you will be empowered to use the details you gained to transform your investment experience positively. So look out for excellent online courses offered by real estate professionals, register for the course, be consistent with the sessions, be active, and get value for your money


Chapter Two: Follow Population Trends

Find the Right Area Real estate education is a consistent process that doesn’t end with one seminar. However, learning opens your mind to the exceptional possibilities that lie with your investment decisions. Here you are, ready to take the first step toward real estate investment. I hope you are excited at the prospect of bringing some of the ideas you discovered in the first chapter to life. A lot of books and materials often lead investors to get right to the aspect of purchasing a first property. If you did your research on real estate before reading this book, you would probably see “Buy a house” at the top of the list of things you should do first. However, the truth is that if you make that move without an in-depth understanding of the role played by the area, you will lose out on your investment. Are you looking for a quick investment get-rich idea? If yes, it will be advisable that you stop reading because you wouldn’t find that concept in this book. What you will find is a step by step approach to investing for beginners that will empower you to build a solid investment foundation. This foundation will become the basis for sustainable wealth creation. The success of your real estate investment isn’t solely determined by the properties you purchase. Take your eyes off houses for a moment and think about the area. It would help if you found a city/street/suburb you like and let that environment be the focus of your investment. To fully grasp the concept of finding a suitable area, you must embrace the notion of market trends. Markets are always in motion, sometimes they move down, sideways and other times they move up. The concept of market trends is the reason why the stock exchange is always budding with life and activity. Every stockbroker needs to follow the rhythm of the market through its movement (trends). As a real estate investor you should be proactive about studying the trends in the real estate market to ascertain the best time to make a decision. Great real estate investors do not consider only the trend. You’ve probably heard the saying, “Location, location, location.” A lot of real estate investments are about location. If you were to do a search of the worst locations for real estate investing, you’d likely return results for the Northeast. With New York and New Jersey being expensive, highly taxed states, they aren’t prime locations for a good ROI. Many investors shy away from the Northeast because there’s no money to be made. Weather is another important factor when selecting a location. The Northeast is known for harsh winters. It may be easy to find tenants for rental property, but when it comes time to sell, the cold and snow might keep prospects away. This is especially so if it’s a multi-unit apartment complex. They can be difficult to unload unless they’re in an area where there’s no harsh weather. They would also need to show a good profit with steady tenancy. Transient tenants place a large expense on the apartment owner as with each exit, the apartment needs to be cleaned, the rugs shampooed, etc. This can add up, especially if you’re an absentee landlord paying a property manager. All these considerations should be explored before signing a purchase offer. A vital lesson you must consciously uphold as an investor is to think like your prospective clients. Market trends inspire prospective buyers to jump when interest rates are lowest. With the stock exchange, it is difficult to predict the market trends, but this isn’t the case with real estate. The market trends with real estate tend to move at a slower pace, and if you follow it keenly, you will know when it’s the best time to invest and what areas hold out the most ROI. A city that had impressive growth last year will most likely have the same growth manifested this year and a higher growth projection next year. On another hand, an area that didn’t do so well in the market last year isn’t doing well now and likely won’t next year. By following the trend (and in addition to other factors we will discuss subsequently) as an investor, you can tell which city or area will do better in


the future. 
You should also know the reason why you are reading all sides of market trends
 (up, down and sideways) in this chapter. The idea is so we can shatter the popular yet erroneous concept that real estate investors should only invest in areas that are doing better. Which is when the properties are “Up” (we will elaborate on this idea and correct the impression shortly). Remember, at this point, we are not talking about investing in a property, we are focused on an area so keep that in mind as you read on. Look out for areas that are “Down” but with prospects A popular trend for real estate investors is to seek out areas that people are moving into because it will guarantee high returns. There is nothing wrong with this trend; it streamlines the investor’s choice to only the areas with a steady population. There is an immense possibility for ROI in areas that are down as well. We want you to be a very knowledgeable investor, and we advise that you also consider “down” areas that have prospects for colossal returns. In addition to your search for areas, clusters of streets, suburbs or anywhere else with increasing population, note the areas that have been down for a few years and suddenly spring up into becoming the first-choice for people. The real estate trick is to find the area at the bottom and know when it will take off. For such down areas the prices are low, which means you get to buy at a low price and when it gains prominence you rent, lease, or sell at a higher price. A major mistake most investors make is buying when the area is at the top, which could be very expensive. At those high times, the sellers are taking advantage of the population rush. Always remember the three trends of all investment markets: Upward, sideways, and downward. If you ever buy upward, you will need to sell that way too to get returns. You can also sell sideways (just a little profit) or downward (sell at a loss). However, if you focus on down areas with potentials, you will only make sales upward after investing. This pattern means that you must be conscious of the areas with regard to their upward and downward trends. So is an area going upward? Downward? Alternatively, sideways? When you make investment choices think about these trends and make purchases that will give you high returns long-term. Ignoring the downward trends will deprive you of the opportunity to gain revenue from suitable investments. Some areas will give you insight into the kind of experience you will have with your investments. As such, you must pay attention to what you are getting from the area. Make your choices based on the data you get from researching the areas of interest to you. Some other areas may have issues being on the upward level because of a few challenges in the environment. The problems with such areas could be the roads, street lights, or any other challenge that will affect the quality of the experience for those who buy properties in that area. For some areas, the government is responsible for the changes, and if you sense that there will be a commitment from the government in the near future, go ahead and invest. Don’t wait until the positive changes occur before buying. If you buy when prices are up, there will be many investors rushing to jump on the investment train, and you would have to buy beyond your investment plan.