Real Estate Investing In 2016. If I Had to Start Over Tomorrow, Here’s What I’d Do

real estate investing 2016
Real Estate Investing in 2016

So, I’ve been in real estate investing for almost a decade. I made it through the crash in 2008 and have seen it all. So as you could imagine, I get asked all the time, knowing what you know now, what I would do if I had to start all over tomorrow?

Well, here goes.

1. I’d assess my cashflow:

The first thing you do when starting off in real estate investing is take stock of how much cash you have. Are you sitting on a fat bank account that allows you and your family to survive while you learn how to do this?

  1. What will your personal and business expenses be over the next 6 months?
  2. What’s your cost of living going to be?
  3. Are you like 31 and living with your ex girlfriend for free in her apartment?
  4. Do you have money to support yourself and your family? You’ll need it.
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House Flipping in 2017: 5 Tips to Help You Turn a Profit

If you’re reading this, you probably know that house prices are rising and there aren’t as many people selling as you’d like there to be. Actually, I’m writing this because as of 12/17/15, the Feds hiked up the interest rate and this affects you, me, well…everything. So with all of these things combined, real estate investing and house flipping gets tougher to do.

With reality television shows out today like Rehab Addict, Property Brothers, and Flip or Flop (my favorite), it’s also more competitive today than it’s ever been. Basically, everyone and their mother wants to get into house-flipping.

Rehab Addict Reality TV Show on House Flipping
Image Credit:

So what does this mean to you? Well, it means one of two things:

  1. If you’re just getting into house flipping and don’t know what you’re doing, you could do a lot of damage and lose a lot of money VERY QUICKLY.
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How to Make Money Real Estate Wholesaling

I put together some cool videos this month on how to get started in house flipping in 2016. Here’s one about real estate wholesaling:

What is Wholesaling?

Wholesaling is just connecting the dots between sellers & buyers and getting paid for it (kind of like a finders fee). And when you do it legally, you can make a lot of money/

So check out this story to help you get it:

Don is a wholesaler.

He spends his time searching for real estate deals. So one day, Don gets a call from Jan. Jan wants to sell her house, and needs to do so quickly. She tells Don that her house needs rehabbed, and she wants to get rid of it because she doesn’t want to put money into fixing it up on her own.

Don views the house and offers her $75k for it. Jan accepts and they sign a contract. The contract states that Don or anyone else he assigns the contract to will buy the home for $75k.… Read the rest