The 5 Steps to learning how to get started in real estate
1. Lack of Knowledge
When it comes to investing in real estate, most people only think of traditional investing, using liquid cash or a loan to make a purchase. They aren’t aware that you can also use your retirement dollars to invest in real estate. This alternative has been an option since 1974 through the Employee Retirement Income Security Act (ERISA). Not only is this great for people who already love real estate as a primary investment option, but it also has amazing benefits for individuals who have never invested in real estate before.
2. Property Management Fears
Many people choose not to invest in real estate with their retirement dollars because they don’t want to worry about repairs and maintenance. They want their retirement account to be something that passively builds wealth for them while they focus their main energies on their profession. Being on call at all times of the day to take care of maintenance requests is not ideal for someone busy in their career. This is why Growth Equity Group has eliminated this obstacle from the equation by taking care of all the property management needs so that the investor can go on doing the things that are more important to them.
3. Choosing a Market to Invest
Choosing a market to invest in can be an overwhelming task. Many people make an investment based on where they live or where they have read the “hot spots” to invest are. Choosing the market you currently live in can be convenient, however it may not always bring the greatest return. Likewise, investing in the popular market of the time may not be wise either because once a market has reached a point of national hype the cost to buy has already gone up. Growth Equity Group analyzes all markets in the U.S. simultaneously to ensure investors are getting into the right markets at the right time. We have a track record of consistently choosing the best markets that have given investors the greatest returns.
4. Lack of Time
Often, people will say that they don’t have time to research new investment strategies or that investing in real estate is too complicated for them to get into at this point in their life. Unfortunately, as those same people get nearer to retirement, they are wishing they took the time. Now, they are scrambling to find a strategy when they have already missed out on hundreds, thousands and even millions of dollars over the years. If you are someone who says, “I don’t have time.” I say to you, “You don’t have time to wait.” Make time not only for what is important to you now, but what will be important for you and your family in the future.
5. Lack of Financing
This is a big one. Most people are unaware of the power of Leverage when purchasing real estate through a Self-Directed IRA using non-recourse financing. Anyone who has already tried to obtain a non-recourse loan through the bank knows how difficult it can be. Most people are either not-approved, or are approved and given a very high interest rate that would not make the investment worth while. Since non-recourse financing is determined by the quality of the asset, many investors not only have to chose a new property in which to invest but also have to reapply for financing in hopes that the asset will meet the requirements of the bank. Growth Equity Group is the ONLY company that provides pre-qualified, pre-approved, non-recourse financing on all of our properties! Not only does this save the investor time, but it also builds confidence in the quality of the investment.
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