How the Average American Can Acquire and Sustain Large Real Estate Portfolios
America is the land of opportunity. Yet many complain that there is no opportunity for them. Weather such a statement is factual depends partly on your individual definition for the word “opportunity”. If “opportunity” to you means a job, such opportunities are limited and in certain regions, so limited it may indeed seem there are no jobs hence no opportunity. In current times, this is a popular view of many, pitting them under employed, financially stuck, or with a feeling that prosperity is unrealistic. These ideas breed a culture that feels it is a waste of time to attempt improvement because it wont work anyway. Therefore to acquire and sustain a large real estate portfolio,
Step 1 is to acquire a more applicable definition of the word “Opportunity”. If you google “Definition of Opportunity”, you will see the following:
1. 1. A set of circumstances that makes it possible to do something.
2. 2. A chance for employment or promotion.
chance - occasion - opening - possibility - time
Notice that “A chance for employment or promotion” is 2nd not 1st. So seek number 1. With respect to real estate In the California Bay Area that set of circumstances has happened, making it possible to implement your plan now. Even the above Synonyms appear to agree. My friends, we are in unique times. Banks are extremely strict on lending, and many middle class families who want desperately to own simply can’t get a traditional loan.
To the average consumer this spells despair but to the savvy investor these circumstances spell opportunity. Now more than ever there exists a clear-cut demand seeking a clear-cut supply for that demand. Those who supply the demand will prosper. It’s as simple as that. Therefore
Step 2 is to Educate yourself and Act. Educating yourself and Taking Action go hand in hand because On the job training is a must. The San Francisco Bay Area is a slightly different breed of real estate then many other places and there are some things one cannot just pick up from a book, article, or blog.
Step 3: View a mistake as not a reason to quit, but as education on what not to do next time.
Once you are mentally prepared you must build a network and interact with other like-minded professionals. Be willing to leverage whatever skill and/or capital you can bring to the table in exchange for knowledge. But also leverage the expertise of professionals. Utilize them. Actively work with, and be loyal to a brokerage that has the expertise to address, and understanding of the needs of today’s real estate investor. Suggested Contact: The 357 Companies . They are boutique Brokerage and excellent at leveraging experience and technology for their client's real estate acquisition goals.
Inman News is a solid source for great real estate trends and information along of course with the plethora of articles and information published on Examiner.com. For additional information, potential funding sources and hot investment zones in California’s Bay Area stay tuned for part II of this article. Thanks for your support and feel free to contact me at anytime directly for assistance.