Real estate is one of the hottest investments, and many are rushing to purchase commercial and residential properties. But like any other venture, becoming a successful real estate professional is not easy. Many challenges stand in the way and sometimes stop you from reaching your goals. Having walked this path and emerged victorious, Nathan Garber shares some of the investment tips he learned on his journey.
Nathan Garber is a former Amish turned entrepreneur leading his community as a real estate developer. He started a successful real estate business that has taken off in 7 states. Nathan Garber is also a philanthropist dedicated to supporting single moms and veterans and has joined the fight to end human trafficking by starting a non-profit organization.
Here are 4 real estate investment tips you can learn from him:
Right now, there is a lot of buzz about real estate, and many people are entering the space blindly. Nathan explains that while the industry is not so complex, without some understanding, you can easily make a wrong investment decision and end up with huge losses.
Nathan emphasizes the importance of doing your own research and not solely relying on paid advisors. When you have done your homework and understand real estate, then you can present valid arguments and make a more informed decision based on your observations.
Nathan recommends investing in different kinds of properties to give you a larger scope to work with. He explains that while you can minimize the risk within a much smaller geographical area, it can also limit your profitability potential.
"By considering investments in other cities, you'll have a larger pool of available investments, which translates to more opportunities," says Nathan.
There will be a significant correction in the market soon and the US Dollar will have better purchasing power in the near future.
Real estate investment is not cheap, and there are many additional costs from maintenance and other expenses like taxes and upgrades. Before making any purchase, Nathan advises that you know your financial standing, if you have taken a loan, how much interest is involved, and the set repayment period.
This will help you establish realistic goals and not expect too much from a property, as it can be frustrating when you don't reach the set goal.
No doubt, real estate is a great investment and can help you attain financial freedom. However, your success in the field is determined by your approach. The above tips shared by Nathan are excellent guidelines to help you prepare to invest in real estate.
To learn more about how to make an educated investment, visit LeonHoldingCompany.com.
Photography by: Nathan Garber