This week I’m sharing the first part of my new series on YouTube, Why I Love Real Estate: Delayed Gratification. We all have to walk a similar path on our way to building a successful future and it comes down to a few things including delaying gratification. By putting off what I want now for what I’ll be able to have later, I’ve been able to build wealth. I’ve found there’s some key ingredients for being successful in real estate but the most important is time. To find out more about how delaying gratification could help you on the path to financial freedom, be sure to check out the full video here.
I was recently featured in an article by Business Insider, Are Home Prices Going To Crash?, where I shared my thoughts on real estate prices, interest rates, and overall market conditions. I share what I’m expecting to see over the coming months with continued price growth and continued low inventory. I also touch on potential scenarios including what would happen with increased new builds, sellers flooding the market to tap into the high appreciation we’re seeing, and a declining population. To read about this more in depth, check out the article here.
I wanted to touch on the four things that typically slow people down when investing in real estate (not including mindset).
- Running out of capital. There are ways to use low or no money but they often are more work and more difficult. Don’t compare yourself to someone who has a lot of capital. They’ll often be able to go further faster, but use their situation to inspire you. The best way to get started with limited capital is house hacking one property per year and the BRRRR method. I highly recommend house hacking as one of the most powerful tools.
- Running out of time. It can be a struggle to balance working and investing in real estate. I recommend continuing to do both as long as you can but know that as you scale your portfolio, exiting from your job may need to happen.
- Running out of opportunities/deals. Make sure you’re investing in an area or asset class that will be fruitful. If you’re having trouble getting a deal under contract, zoom out and see if you need to adjust one of your criteria.
- Running out of the ability to finance. There are loans available that look at the income the property is making, not your debt-to-income. Don’t get stuck on only using a conventional loan.
We all want to sprint and get as far as we can. Don’t try to go fast, focus on going far. If you start too fast, too quickly, you may not make it to the finish line. By going slow and steady at a pace you can handle, you’ll be able to get farther than sprinting and burning out.
I’m raising money for a deal and am opening it up to accredited investors on this textletter first. Visit www.InvestWithDavidGreene.com if you’d like to learn more about how I can make you money!
I have been loving listening to the PBD Podcast. If you like learning about trending topics, current events, and politics as they relate to life and business, this could be the podcast for you! Patrick Bet-David never ceseases to impress me with his take on current topics and interview style.
The David Greene Team had the honor of helping first time house hacker, Christine, in the greater Sacramento, CA area!
Christine took the first steps on her investing journey and learned so much throughout the process! Find out how she incorporated a garage conversion into her house hacking plans here!
If you’d like to work with the David Greene Team to buy or sell your own real estate, please email us at Info@DavidGreene24.com.
