• Long Island Real Estate Investing Long Island Real Estate Investing

    0 comments / Posted on by Steven Rivera

    Long Island Real Estate Investing

    Long Island may not be big but is very densely populated. The Island is filled with hungry real estate investors of all ages, looking to close deals on the daily. That being said, there are a few strategies that are vital to assure that you stay ahead of the competition.

    Diligence

    Do your research; fall in love with the numbers, not the property. The worst thing a real estate investor can do is rush into an investment with little to no knowledge. Knowing your market is a key element to your success as an investor in real estate.

    Consistency

    You need to be constantly marketing, improving operational activities, and creating relationships. You need to be involved in your business every day. You never know when the million-dollar opportunity is going to pop up. Especially in the Long Island market, the competition is resilient so you must act fast.

    Build an Excellent Team

    There is no way that you can be successful in real estate investing unless you build a trustworthy and hardworking team. There are too many moving pieces and expertise needed for one person to handle it efficiently.  To learn more about team building check out our blog titled “Your Real Estate Investing Team.”

               

    Long Island may not be big but is very densely populated. The Island is filled with hungry real estate investors of all ages, looking to close deals on the daily. That being said, there are a few strategies that are vital to assure that you stay ahead of the competition.

    Diligence

    Do your research; fall in love with the numbers, not the property. The worst thing a real estate investor can do is rush into an investment with little to no knowledge. Knowing your market is a key element to your success as an investor in real estate.

    Consistency

    You need to be constantly marketing, improving operational activities, and creating relationships. You need to be involved in your business every day. You never know when the million-dollar opportunity is going to pop up. Especially in the Long Island market, the competition is resilient so you must act fast.

    Build an Excellent Team

    There is no way that you can be successful in real estate investing unless you build a trustworthy and hardworking team. There are too many moving pieces and expertise needed for one person to handle it efficiently.  To learn more about team building check out our blog titled “Your Real Estate Investing Team.”

               

    Read more

  • Real Estate Investing Requires a Plan Real Estate Investing Requires a Plan

    1 comment / Posted on by Steven Rivera

    Real Estate Investing Requires a Plan

    The first thing you need to understand when you want to invest in real estate is that you have to quickly decide if a deal is worth analyzing and putting time into. It is easy to get lost analyzing a deal that looks good at first but actually holds no value. Time is money so you do not want to waste any of your time. 

    Know Your Criteria

    First, you need to know what kind of properties to look for. As time goes by you will be able to quickly look at a property card and see if it is worth analyzing the deal further. One important thing to have in your plan is to look at areas that have a good school district and a low crime rate. You do not want to settle when investing in properties. Make sure that the property fits your criteria as closely as possible.

    Run Your Numbers

    Now that you see some value in the property you have to run the numbers. Running your numbers accurately and precisely will assure you that the deal has a value that is worth investing in and holds the least risk. Sometimes a deal seems valuable a first, then gets thrown out after running the numbers and seeing too low of an ROI. If you go further into a deal that has a low ROI, you hold too much risk to potentially lose money

    Patience

    You might sift through 100 properties before you find the one that...

    The first thing you need to understand when you want to invest in real estate is that you have to quickly decide if a deal is worth analyzing and putting time into. It is easy to get lost analyzing a deal that looks good at first but actually holds no value. Time is money so you do not want to waste any of your time. 

    Know Your Criteria

    First, you need to know what kind of properties to look for. As time goes by you will be able to quickly look at a property card and see if it is worth analyzing the deal further. One important thing to have in your plan is to look at areas that have a good school district and a low crime rate. You do not want to settle when investing in properties. Make sure that the property fits your criteria as closely as possible.

    Run Your Numbers

    Now that you see some value in the property you have to run the numbers. Running your numbers accurately and precisely will assure you that the deal has a value that is worth investing in and holds the least risk. Sometimes a deal seems valuable a first, then gets thrown out after running the numbers and seeing too low of an ROI. If you go further into a deal that has a low ROI, you hold too much risk to potentially lose money

    Patience

    You might sift through 100 properties before you find the one that...

    Read more

  • Your Real Estate Investing Team Your Real Estate Investing Team

    0 comments / Posted on by Steven Rivera

    Your Real Estate Investing Team

    Before you start investing in real estate you need to make sure that you set up the proper team. Making sure that you have a reliable and trustworthy team to help you complete your deals faster and more efficiently. Without the right team you could be heading into a disaster. The 5 team members that you need to have in place are your attorney, CPA, mortgage broker, contractor, and real estate agent.

     Real Estate Attorney

    Your attorney is the protector of all your deals. A quality attorney will understand your business and give you the proper legal advice and guidance to make your deals work without any headaches. Without an attorney you face a huge risk of a legal issue arising that can ruin a deal and possibly your entire business.

    CPA

    In business, especially real estate investing, it is essential to save money wherever possible. They will help you structure your business and your taxes so you can save the most money that you can. They also will provide you with financial advice to help you make the right decisions with your money.

    Mortgage Broker/Lender

    It is always good to have private money lenders on hand. But when this is not available you need a reliable broker that will always be there and have funds available for you. A professional mortgage broker will have connections in the industry and will have access to certain tools that a private money lender would not have.

    Contractor

    After all financing is...

    Before you start investing in real estate you need to make sure that you set up the proper team. Making sure that you have a reliable and trustworthy team to help you complete your deals faster and more efficiently. Without the right team you could be heading into a disaster. The 5 team members that you need to have in place are your attorney, CPA, mortgage broker, contractor, and real estate agent.

     Real Estate Attorney

    Your attorney is the protector of all your deals. A quality attorney will understand your business and give you the proper legal advice and guidance to make your deals work without any headaches. Without an attorney you face a huge risk of a legal issue arising that can ruin a deal and possibly your entire business.

    CPA

    In business, especially real estate investing, it is essential to save money wherever possible. They will help you structure your business and your taxes so you can save the most money that you can. They also will provide you with financial advice to help you make the right decisions with your money.

    Mortgage Broker/Lender

    It is always good to have private money lenders on hand. But when this is not available you need a reliable broker that will always be there and have funds available for you. A professional mortgage broker will have connections in the industry and will have access to certain tools that a private money lender would not have.

    Contractor

    After all financing is...

    Read more