I get asked all the time about wanting to get into real estate. I get asked about being a real estate agent, someone wanting to flip houses, or someone who wants to buy rental properties.
There are so many avenues you can get into when you think of real estate. I have 3 that are my favorite, which are: 1. Being a REALTOR®! 2. Being an active real estate investor 3. Being a passive real estate investor.
REALTOR®- I have always had an interest in real estate. I always told myself I would get my real estate license one day. Well, I got my real estate license after being a nurse for 5 years. I got my real estate license at the age of 25. There is so much more that goes into being a real estate agent than I would have ever thought. You are there for your clients 24/7. I am a therapist, coffee/wine drinking buddy, I am your late calls, I am who you tell absolutely everything to, I am your voice of reason, I am your friend and most importantly I am going to do whatever it takes to get you to the closing table! Being a real estate professional can definitely consume you. You have to find your own work-life balance. Luckily for me, my husband is my business partner and we are all real estate, all the time.
Our schedules vary, which is sometimes awesome and sometimes stressful, but every day is different which is what we love. I have now successfully helped 46 clients close on a home, and still have another 5 more pending and so many others in my pipeline. I have sold over $8 million in real estate. I know these numbers may seem small to you, but they are huge to me! My goal by the end of this year is for me to sell over $9 million by the end of the year! As a real estate professional, you always have to set goals and go for them! Don't be scared of disappointment. Being a REALTOR® does leave you a lot of unknowns, unknowns of where my business will come from, unknowns from when I will get paid next, unknowns of "will this house ever close", but I wouldn't change it for the world!
Active Real Estate Investor- This is an easy one. This is what we all know as "house flippers". It's called active investing because you have to do an action to obtain the profit. This has gotten more challenging in the past years, but my husband and I have successfully flipped 10 houses and have 3 more in the works. We love flipping houses because it is so fun to see the transformation through. My advice to anyone wanting to get into real estate investing: numbers don't lie, people do. If your numbers make sense, don't buy it! Always remember the MAO formula: Maximum Allowable Offer: ARV (after repair value) X .7 - repairs = the maximum allowable number to offer on a house.
Passive Real Estate Investor- This one is where everyone should want to be. Life is just like the game of Monopoly. You want to own as much real estate as possible. Investors who own rental properties, get mailbox money. Where their tenants pay them, they pay down the mortgage and they help you the investor grow wealth!
