Aug 22, 2019
When it comes to investing in real estate, there’s a plethora of strategies and tactics we can employ, and sometimes the unique ones yield better results. If we’re looking for money to pay for renovations, why are credit cards a great solution? Is it possible to run a successful investing business remotely?
On this episode, real estate investor, coach, and author of the book "Action Driven," Brandon Elliott shares on how he became an investor, and one easy way to access funding for flips.
Money is the last thing you need to worry
about, not the first. If you get a solid deal under contract the
money will show up.
Three Things We Learned
How to find the best location to buy property
Location is a very important part of any real estate investing strategy. We should be looking for job growth, population growth and something unique about the area. Use resources like http://www.usa.com/, census.gov, www.citydata.com, and bestplaces.net to research an area.
A unique way to make use of credit cards
Most people in real estate know about using credit cards to buy construction materials, but we can also employ credit cards to pay contractors and even purchase properties with credit cards. There’s so much favor in using credits, and it’s easily available. Additionally, we can also get the credit companies to protect us against getting shortchanged by contractors, and we get free flights and hotels as well.
How to run a successful investing business remotely
Brandon runs his real estate business from 3000 miles away, and he believes it has actually made him more efficient and grow and scale his business faster, because he’s more reliant on leverage and systems.
The biggest mistake many people make is thinking that finding the money is the first step to invest in real estate. What actually matters most is having a strategy in place, being educated about the area you’re planning to invest in, and having a solid deal in place. Once you have a deal, the money is actually very easy to access. The lesson is to never let a lack of our own money stop us from successfully growing a business.