When you first begin in real estate, your head is likely filled the with idea of plentiful “sold” signs and the following commission checks. Though this can eventually be your reality, it will not be day one. Check out these tips on making it in real estate to ensure that you’re on the path to success.
Tips for Making it in Real Estate
- Give it time.
Chances are, your first act within real estate will not be a large, impressive sale. It will be the behind-the-scenes work that makes those large sales possible.
Don’t feel discouraged if you’re making phone calls, doing open houses, or helping out another realtor. It takes a bit of time and experience to move onto solo sales. Don’t quit after six months because you haven’t made a sale yet; it takes longer than that to climb the ladder.
- Don’t be afraid to ask questions.
No one can know it all. Have a some strategic connections with experienced experts who can answer questions and help you out when needed. Build yourself a community within the realm of real estate so that you do have others to lean on when you encounter something new or confusing. There might just be someone else who has experienced the exact same situation and can offer some advice.
- Have a plan.
Don’t walk into it blind. When you first begin, you should make a plan with tasks, goals and deadlines. Know what is happening and when it should happen. Though unexpected things might pop up, having a plan for the expected things will help get you back on track.
- Commit to it.
If you aren’t fully committed, you will never see the desired results. Real estate is hard work, and the only way to make it is to work, work, work. If you’re just testing the waters, then you will not find them inviting. You have to get used to the temperature before you start splashing around.
- Make connections with the right people.
In an industry where connections matter, you should choose a hard money lender who can offer more connections in your network.
When researching lenders, look beyond the terms of the loan, application process, and interest rates and consider how your hard money loan can create opportunities for you to expand your network.
No two lenders are quite the same, so do your research. A good place to start is by attending Real Estate Investor Association meetings. Many lenders attend those, and it’s a great way to meet many hard money lenders and build some rapport with them.
Then begin doing a bit of research. Does this lender have connections with:
Having those connections right off the bat could make a huge difference in your investment potential and when you stake that “sold” sign.
Catalyst Funding is a hard money lender that wants to help you build your real estate network. We strive to be more than a lender for you: we want to provide you with resources that will guide you through the entire process. For more information on a hard money lender that will work for you, call Catalyst Funding at (832) 648-3626.