3 Key Steps for Starting Out in Real Estate

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While real estate can be quite the competitive business, there are many steps you can take to maximize your chances of success. It’s just a matter of taking the proper steps right from the get-go. Here are some important steps to take when starting out in real estate.

1.Make a Website Right Away

Increasing your online presence works wonders when starting out in real estate. Some folks may feel that they want to wait to get more established before they start devoting resources to building a website. However, in reality they’re missing out on a key step toward gaining name recognition.

For most people, using WordPress is the easiest way to build a website. While about 60-80 sites are made each day using Squarespace, Shopify, and other platforms, each day sees the new creation of roughly 500 WordPress sites. By creating your own website early on, your potential clients will always have a place to see your properties and find out how to contact you. If your site gets enough traffic, you can even use advertising to generate some extra revenue.

2. Protect Your Data

Whether it’s via a website or a cloud storage platform, once your information is online, it becomes vulnerable to fraud and cyberattacks. In an article on how to protect small businesses from fraud and cybercrime, Merchants Insurance Group recommends protecting your data through antivirus software, programs that provide malware and spyware protection, and a firewall. Small businesses are the most vulnerable to fraud, making up 28% of all cases and suffering a median loss of $200,000 according to the Nations on Occupational Fraud and Abuse.

3. Talk To Successful Realtors

One of the first things you’ll want to do when starting out in real estate is find a mentor who can provide you with a model you can use. While you shouldn’t go in expecting to receive some revolutionary secrets of the trade — not to mention the fact that the Defend Trade Secrets Act of 2016 actually protects people from giving too much away with ~1000 cases a year — you can still find a wealth of helpful tips you can incorporate into your practice.

Mentors can help you to avoid some of the common mistakes beginning realtors can make, such as failing to budget properly. Avoiding common realty pitfalls and missteps can give you a huge leg up over the competition when starting out in real estate. If you’re lucky, your mentor might even provide you with important networking opportunities that will help you to rapidly expand your clientele.

By taking these steps early on in your real estate career you can maximize your chances of success in the business.

This article contains general information and does not contain legal advice. Buy It, Rent It, Profit is not a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.

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