real estate
There’s a lot to know about real estate investing, from finding the right market to taxes. It seems like there’s always a new subject to dive into. No matter whether you’re brand new to real estate or you’ve been in the game for years, there’s no denying that at times it can all feel a little overwhelming.
Most of us are still working clinically, and for those working full-time, it can definitely feel like you don’t have enough bandwidth to learn it all. It also might feel like there are so many other obstacles we face when learning how to invest.
Obviously, doing the proper due diligence is the most important part of the investing process–nobody wants to get stuck with a bad investment. When you’re scoping out a certain property, always think about how it can contribute to your passive income goals.
While purchasing a rental property or two in your own market isn’t a bad idea, once you start looking to add some additional properties, it’s best to seek other markets.
When you’re investing in real estate as a means to achieve passive income and, ultimately, passive income, there’s one great way around those late-night maintenance calls: hire a good property manager.
The key to keeping up your motivation is to always keep your ideal life first and foremost in your life. Every goal that you set, whether short-term or long-term, should be seen as a stepping stone to the life you want for yourself.
Listen to podcasts, read books, attend conferences (online or in-person), talk to like-minded people–whatever method you prefer, keep your mind always engaged with the topics that will help you achieve your goals.
The journey to financial freedom will have its ups and downs, and there will be external factors that you can’t account for. Accept it, learn from it, and move on. I can’t tell you how much easier it is.