Although all forms of investing are inherently risky, it is probably safe to assume that one of the least risky investment methods is buying and selling properties. The bricks and mortar market might be prone to slow moving fluctuations, but considering that the market has seen steady growth over the past 18 months, and the head of the bank of England has recently introduced stability-developing devices into the mortgage market, now would seem a reasonable time to get started buying and selling houses.
So the question is: how do you create your own property empire if you’re starting from nothing? And furthermore, how do you make sure that once it’s established, it continues to grow and expand without collapsing? In this article, we’ll answer those questions for you and more, so read on to find out.
Starting off Small: Buying and Selling Your First Home
The first question you need to answer is how to take the first step: that is, how do you purchase and sell your first property? If you don’t have infinite funds, a good way to do this would be to sell your home, buy a cheaper house that needs work doing to it, and then sell it for more than you bought it for. This technique requires that you live in the house you’re working on, but if you’re willing to “rough it” for 6 months or so, it’s a very straightforward and relatively risk-free way to get your foot on the property selling ladder.
Knowing When to Expand
Once you’ve bought and sold a number of houses, you might have built up a relatively decent amount of money. At this point, you might be asking whether now is a good time to expand your operations. There are a number of ways to do this, but one could be to buy and sell houses, but to simultaneously buy a property and rent it out to some tenants. This ensures that you create a stable monthly income alongside the larger one-off payments from your property selling work.
Use the Available Tools and Platforms
The tech advances today help both startups and established businesses tremendously. In building your real estate empire, you need to make use of the available tools and platforms to get things done better, faster. Here’s one.
Managing an Empire: How to Ensure Steady, Long-Term Growth
Finally, once you’ve started to build your property empire, it’s essential that you manage to keep it all together and in one piece. One way to do this is to keep everything moving at a constant pace that you can track and measure with consistency. This could mean, for example, if a property isn’t selling via the conventional methods, that you use a house buyer to sell your property through to keep your operation moving.
So there you have it: How to build your property empire from nothing. Here’s a takeaway for you: If you have one hour of your time, I strongly recommend you to watch this Grand Cardone video. He talks with 2,000 realtors and share his insights on real estate, social media, sales and how to gain attention in the real estate marketplace:
