Hello, everyone, I am Juan Carlos Gastelum, and I am a real estate investor in Texas.
Today I want to address those who want to get started in real estate investing, but really haven’t found a roadmap or a way to get set up and started.
First and foremost, I would suggest that you understand the market you want to get into. And for that, you’re going to need to get clear on what your goals are. Are you looking to generate cash flow right away? Are you looking for your investment to appreciate over a long period of time? and then capture that appreciation and wealth created by your real estate investment over the long term? Or, are you just not in the know of what you want to do, but you know you want to invest?
Once you’re clear on your goals you want to identify your market. Not all markets have the same type of returns. For instance, California, as well as other markets, would generally not cash flow but has proven to be a great appreciation market. If you have your sights set on cash flow, then you may want to look at some markets that are continuously proving to be cash flowing. For instance, states like Tennessee, and Idaho, maybe some parts of Florida and, of course, Texas, which is the state where we’re investing.
So when you’re clear on your goals and you have identified your market it’s time to do the research. And for that, I suggest you get started on the internet. There are plenty of websites that have all the market information from the multiple listing service like redfin.com, zillow.com, har.com, realtor.com and propertyshark.com. All these websites provide a bountiful amount of information where you can compare prices on the different types of property. So for instance, you may be comparing single family homes in one area or neighborhood and you want to know what the price level for that type of property is. You may also want to consider things like the square footage and the floor plan of the property. And if you’re looking for larger multifamily like duplexes, or triplexes, or even four-plexes, the MLS is a great source of information for you to start comparing data, including prices, and understanding the market where you’re looking to invest. Just doing the research alone will open your mind to a wealth of information so that once you get used to comparing properties, pretty soon you’ll understand the type of property that you’re looking at, and what the investment will look like when you start running your numbers.
Our tip for today is to 1) get clear on your goals, 2) identify your market, and 3) start doing the research. Once you have those three, you can start engaging in networking, group meetups and mastermind groups which we’ll get into on a later date. So take care and best wishes on your real estate journey! God bless!
