There are many reasons to invest in real estate, and each investor will have their own motivations. Below are some of the most common reasons (and in our humble opinion, some of the best reasons) why learning about real estate investing might be a good option for you.
- Financial freedom: Many people dream about having the freedom to decide whether or not they want to work for someone else. Living in a state of financial freedom means that your cash flow situation is such that if you decided to stop working, you could continue to live the lifestyle that you want.
- Control: Compared to other investment vehicles (stocks, mutual funds, etc), people who invest in real estate have a much higher level of control over the outcome. While every form of investing has risks, with real estate investing it is much easier to control and mitigate those risks.
- Additional income: While some people get into real estate investing with the goal of achieving complete financial freedom, others simply want to make a little extra money in addition to the salary they get from a full-time job. It doesn’t require a lot of extra time and work to start making money from real estate investments.
- No Barrier to Entry: Have you ever heard the expression “You have to spend money to make money?” That’s probably true in everything except real estate investing, where you can literally get started even if you have no money at all.
- It’s Fun: Last but not least, real estate investing is not only lucrative, it can also be a lot of fun. Many people enjoy the challenges involved, and find satisfaction in selling or renting out homes that they have purchased and remodeled.
How to Get Started
Hopefully, we’ve convinced you to at least learn more about real estate investing. Now you’re probably wondering how to go about doing that.
One of the best ways to get started in real estate investing is by helping an experienced real estate investor find properties to purchase, and getting paid a commission for doing so. In the business of real estate investing, this is called acting as a bird dog.
As a real estate bird dog, you’ll get the benefit of seeing how the process works without having to risk any of your own money. Bird dogs typically make anywhere from $500-$5,000 every time an investor purchases a property they find, depending on how involved the bird dog is in the closing process. It can be such a good source of income that some people never move beyond this level. Others will take the money earned acting as a bird dog and put it towards the purchase of their first investment property.
RVA Property Solutions regularly teaches free workshops about how to become a real estate bird dog. For available dates and locations, click here.