myEmpirePROIn this lesson, you will discover some of the fundamentals necessary to understand real estate from a standpoint of generating income and building fortunes.
Why Real Estate is Key To Life.
Growing up, I can’t remember a time that my parents, Uncles, Aunties, or any elderly person sat me down to teach me that I needed food, water, air, clothing, sex, sleep
…and shelter or what we call housing in most parts of the world today.
That knowledge simply was and still is the reality till today.
In fact, these are physiological needs at the very base and foundation of what’s important to us in life.
Unlike our wants, the need for housing for various reasons remains a fact every day and more so as we progress in creating family units and building empires.
We need housing and if you ask me, it also represents the best product to offer the market in exchange for income and building a fortune.
Security, Credit & Collateral
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Real estate is the only asset class that the bank will happily give you money to buy.
The bank won’t give you money to buy stocks, crypto, currency, bonds, etc.
But the bank will give you money to buy real estate every day of the week because it is referred to as a real asset.
The real asset is actually the land and the value is controlled by the location. The building is just an improvement.
So the bank will always happily accept a landed property as collateral which creates the distinction between a secured and unsecured loan.
Now that we’ve established real estate as the ultimate type of business to get involved in if you want to grow wealth and purchasing power fast…
What Is The Easiest Way To Start In Real Estate?
Speaking of easy, the easiest thing for me to tell you at this point is to give me $35,000 and I will show you the easiest way to get started.
But you and I know that the word “easy” is never relevant to anything worthwhile in life.
That’s why the desired result is craved by some of the brightest, smartest, and wisest human beings this world has had to offer.
So with that being said, the easiest way to start will be to “just” start.
But if care is not taken, you and I’s procrastination will complicate things as usual and we will waste time.
With that full understanding, you can simply Google or YouTube search
“free wholesaling 101 course by Ola”
and the video series should popup.
Real Estate Agency vs Wholesaling
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So these are probably the 2 closest to easiest or seemingly easiest ways to get started in real estate besides actually buying a house.
I describe an Agency simply as getting licensed by a government board with the purpose of representing the interest of the general public when buying or selling real estate.
You get paid in sales commission at the rate of up to 6% of the sales price.
But with wholesaling… it is more so an investing or real estate investment strategy where the primary investment is in time and skills.
Real estate wholesaling is the arts and science of finding deeply discounted properties leveraging digital age marketing skills.,
After finding a deal, you can then lock up a good discounted and below market value price with an assignable real estate purchase contract.
And lastly, you would assign the purchasing and equitable rights in the contract to an end-cash-buyer investor in exchange for an assignment fee.
Assignment fees can go anywhere from $1,000 to $82,000 based on my personal experience.
By the way, I am still trying to beat that.
Basically, you are getting paid lucratively to find deals for investors who may not necessarily have the luxury of time and marketing skills like you to find them.
Marketing Skills & Time = Seed Value In Real Estate
Back to agency; taking the typically 75 hours class and the state board exam only teaches you the applicable laws of real estate.
Unfortunately, the only way to be successful in that world of agency is also to learn how to market since that’s the only way to attract potential clients at scale.
Most brokers who you will have to work with as your independent boss will only teach you to reach out to your immediate circle of influence.
It’s an okay way to get started but you probably cannot scale without marketing and investing time contrary to the popular opinion that you can do it part-time.
Creative Real Estate Investing
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We have already established that real estate (shelter and housing) is a basic human need,
even before all the emotional stuff that gets people caught up in life.
But most people cannot afford to buy the real estate they need to house themselves and their families.
So they rent.
It’s called leasehold in the world of real estate.
It’s a limited-time ownership of a piece or parts of real estate for personal use.
This alone makes possible many more creative ways to make money in real estate.
Tell me in the comment area any questions you may still have about making money in real estate and I will be happy to address them in our next videos.
Don’t forget to download your 2 free books
Smart Real Estate Wholesaling and…
Real Estate Money Secrets at:
www.RealEstateMoneySecrets.com
Also check out the 11 days challenge quick start guide at:
Check out the next video on the screen for more information all about making money from home.