Hi, it’s AK from American Wealth Builders!
I’m going to let you in on a little “insider secret” of successful investors. So if you’re thinking about investing, or if you are already invested and want to invest at a higher level, listen up because this could be a game-changer for you. And by the very end of this email, you will have an action plan that will get you moving forward.
Let’s start with what NOT to do…
When someone wants to get into real estate investing, here’s the thought process that many of them go through: “oh, I don’t want to be in the stock market anymore; I want to get into real estate… so I want to find a property that I can afford to buy and then rent it out.”
So they open their newspaper or go on the MLS and look for a property in their price range.
Frankly, that’s backwards.
Consider this: if you were going to start a restaurant, you wouldn’t open up the newspaper and start by looking for the food equipment you could afford, would you? Of course you wouldn’t. You’d start by figuring out what people wanted to eat!
Former hockey player Wayne Gretzky summed up the secret to his success with the following quote: “I skate to where the puck is going to be.”
In sports, star athletes go to where they puck or ball will be; when starting a restaurant, you think about the food that people will want to buy long before you decide what equipment to purchase.
And in real estate investing? It’s the same: don’t start by looking for houses you can afford because you’re basically limiting your opportunities right at the out-set to affordable properties usually in close proximity to you.
Instead, “skate to where the puck is going to be” by finding markets that are hot rental markets.
When you find those rental markets, then start looking for properties that meet the needs of your ideal renter.
And once you’ve done that, THEN start looking for properties that meet your personal financial parameters – such as price.
It’s funny to me that most business owners and entrepreneurs start by asking, “Where’s the opportunity?” while real estate investors often start by asking, “How little do I have to pay?”
Which mindset do you think leads to a greater likelihood of a profitable outcome?
Yes, of course, thinking about the opportunity first.
So, let’s start building the action plan by first asking the right questions about opportunity.
STEP 1: Find The Opportunity
What are the kinds of questions you should be asking to figure out where the investing opportunity is? You can ask questions like…
- Who is renting? (And more important: who are the best types of renters?)
- Why are they renting? (Hint: jobs is a MASSIVE reason for people to move)
- Where are they renting?
And the good news is: this information is already gathered for you in many different sources. You may want to find a few different sources to find the answer but here’s a great article on the topic as a starting point. https://blog.linkedin.com/2016/09/20/5-surprising-cities-rapidly-attracting-millennial-job-seekers
This article talks about Millennials as a massive economic force with huge buying power, and then goes on to describe the cities they are moving to for jobs.
STEP 2: Find Properties In These Locations
The next step is to start looking for properties in those locations. Now, this is where a lot of investors fall down because maybe they haven’t been in those cities before or maybe they don’t know anyone there. Well, that’s where you find a turnkey wholesaler because that will eliminate a ton of work for you.
A turnkey wholesaler is a company that finds great properties, acquires them and cleans them up, puts a tenant in them, and puts a property management team in place. All that work is done for you so the only thing you need to do is sit back and collect the money.
Smart investors love this strategy because it eliminates so much of the legwork while at the same time opening up the possibilities of where to invest – enabling them to invest in ANY location in the U.S (instead of an affordable property near where they happen to live).
And, since a turnkey wholesaler specializes in this kind of thing, you can be sure that you’re getting properties that are affordable and renter-friendly.
And the best part? They’re cash flowing right from the very first day, which means that you don’t have to go through the hassle of viewing properties, buying one, cleaning it and fixing it, finding a tenant, etc. It happens for you before you even invest.
STEP 3. Get In Touch With A Turnkey Wholesaler
Here at American Wealth Builders, we are turnkey wholesalers and we have properties in Cleveland – which is in the top 5 of the list! (We have properties in a couple of other markets, too, that aren’t on the list but we’ve been in them for years and know that they are great markets too.)
So that’s the last step of the action plan: give us a call at American Wealth Builders and let’s see about how we can find a cash-flowing turnkey property to add to your portfolio today!
Call us today: 561.408.0880