Most people who try their hands at real estate investing do so as something of a “side gig,” which means they have full-time jobs or they run their own businesses in addition to buying and selling or renting properties. Over time, some of these investors start thinking about making their investing businesses into full-time careers. Here, you can learn more about how it works, whether it’s right for you, and how to get started if you want to make a career out of investing.
Further Your Education
Making a career out of real estate investing requires many different things, but the two most important resources you can have are experience and education. Since it’s never good to dive right into real estate without any kind of education, it’s always a good idea to start there. You can find numerous help guides on the internet, check out some books from your local library, or even find real estate investing courses from some of the country’s most revered and profitable investors online.
Get Some Experience
Once you feel fairly certain that you have a good handle on the various facets of real estate investing, the next thing you’ll need to do before you can turn investing into a career involves getting experience. There are several ways you can do this, including trying your hand at some fix-and-flip homes or buying, renovating, and selling (or renting) multifamily properties. Experience is critical – right alongside education – if you truly want to succeed at a career in investing.
Gather Your Resources
Before you quit your job or sell your business to focus entirely on real estate investing, think about the various resources you have available to you. Are there lenders out there who will work with you? Can they provide you with quick funding if you spot a deal you can’t pass up? Is there a real estate agent you trust to help you understand the nuances of the local market where you want to invest? Without these things, you may find yourself playing a guessing game. The absolutely best way to gather resources is to find a mentor – someone who’s been investing in real estate for a long time – who can help you with some of your decisions early on.
Ask Yourself if it’s What You Really Want
Last, but most certainly not least, before you make any decisions, ask yourself if you really want real estate investing to be your career. Though it can be surprisingly profitable and it has made millionaires of many people out there, you’ll also discover that there are risks and things don’t always go as you had planned. If you’re passionate about real estate investing, and if you’re prepared for the risks involved, then it very well may be the perfect career aspiration for you.
Real estate investing can be insanely profitable, and it’s also a wonderful career – but only for those who have taken the time to get the extra education and experience they need to make the best possible decisions. If it’s what you really and truly want – and if you have people in your network you can trust – then turning your side gig into a lifelong career is a possibility rather than a pipe dream.