Real Estate Investment Groups<\/li>\n<\/ol>\n\n\n\nLike RES, REIG involves businesses rather than single investors.<\/p>\n\n\n\n
How To Get Started<\/h2>\n\n\n\n
To get started, you need to figure out what method you want to use. With that in mind, set up a budget for how much you can afford to spend. <\/p>\n\n\n\n
For example, if you\u2019re going with renting, you need enough money for a deposit and to maintain the house. Your profits should be split into \u201chouse money\u201d and \u201cactual profits\u201d so when something goes wrong with the property, you can fix it without worry.<\/p>\n\n\n\n
But, if you\u2019re planning on flipping a house, you need to calculate the costs of this large project. Most house flippers have skills in plumbing, electrical, building, or something similar. This allows them to cut costs of hiring labor, as they will complete the tasks themselves.<\/p>\n\n\n\n
It\u2019s not uncommon for a group of talented friends to work together reducing all or most costs of labor as they pool their skills together.<\/p>\n\n\n\n
Lastly, once the planning is done, you need to talk to a solicitor or financial advisor to ensure no laws are being broken or misunderstood. They can also guide you through the house-buying legal process.<\/p>\n\n\n\n
Final Thoughts<\/h2>\n\n\n\n
No matter which option you choose, make sure you do your due diligence. Talk to a community that has already taken on and completed the method you\u2019ve chosen, and speak to solicitors to ensure you aren\u2019t skipping any important steps.<\/p>\n\n\n\n
As with all investments, there is always a risk. Financially prepare for that risk.<\/p>\n","protected":false},"excerpt":{"rendered":"
Anyone who has a mortgage can already see how real estate investing can make a lot of money, as each year the house\u2019s worth increases. As long as you can buy cheap and sell high, the money is in the bag, right? Well, it\u2019s not that simple. How Does Real Estate Investing Make Money There […]<\/p>\n","protected":false},"author":1,"featured_media":5164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[846],"tags":[],"yst_prominent_words":[228,629],"_links":{"self":[{"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/posts\/5163"}],"collection":[{"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/comments?post=5163"}],"version-history":[{"count":2,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/posts\/5163\/revisions"}],"predecessor-version":[{"id":5352,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/posts\/5163\/revisions\/5352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/media\/5164"}],"wp:attachment":[{"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/media?parent=5163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/categories?post=5163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/tags?post=5163"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/michaelleander.me\/wp-json\/wp\/v2\/yst_prominent_words?post=5163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}