How to Find a Good Realtor
Finding a good realtor can be a critical step in purchasing your first home or investment property. If you want to purchase a property in a specific area, I HIGHLY recommend finding a great local realtor who can help find…
Real Estate Negotiation Tips & Tricks
By, Maura McGraw, Featuring Aziz Shunnara Negotiating the purchase of a real estate asset can seem complicated and overwhelming at times, so this week I interviewed my business partner, Aziz Shunnara, who is an excellent negotiator about some tips for…
How to Find & Keep Good Contractors
Finding good contractors can be very difficult, so here are a few tips that might help you find and keep good contractors.
4 Tips for Managing Construction
As I close out construction at one of our flips this week, I thought I would share some of my tips and lessons learned for managing construction over the past few years. While construction is not overly complicated, it is somewhat of an art to properly manage a project and make sure that things run efficiently and on or under budget.
How to Get Started Investing in Real Estate
By, Maura McGraw
You are probably aware of the many benefits of investing in real estate, but getting your first property can seem overwhelming. There is no one “right” way to get started investing in real estate. People choose many different starting points, but the following 4 steps will help you get started building your real estate portfolio, regardless of which asset class you choose to focus on.
1 – Invest in Your Education
You do not need to spend thousands of dollars on a real estate course or get your real estate license to get started investing in real estate. Reading 3 books is a good way to begin your real estate education and give you enough knowledge to acquire your first property. I highly recommend the following 3 real estate books for beginners:
- Rich Dad Poor Dad, by Robert Kiyosaki
- Cashflow Quadrant, by Robert Kiyosaki
- Long-Distance Real Estate Investing, by David Greene
While having some baseline knowledge is important, do not let yourself get stuck on Step 1. Many people spend way too much time and money getting educated in the hopes that one day they will feel truly confident to begin investing. The reality is that no matter how many books you read or courses you take, most people never feel truly confident until they have purchased a few properties and have some experience under their belt. So, my advice would be to choose 3 books to read and then move on to the next step.
2 – Leverage Someone Else’s Experience
Find someone who knows what they’re doing to help you with your first purchase!
Purchasing property can be complex and nuanced, especially when you are new in the industry. So, I would highly advise finding a person or business that you trust to help you with purchasing your first property. This is how I acquired my first property and I do not regret it.
A few years ago, I knew that I needed to get started investing in real estate and at the time I was an Active Duty Marine with limited time and little experience. So, I used a trusted turnkey company called RP Capital to help me acquire my first investment property in a good cash-flowing market. This company held my hand through the whole process and helped me get into the game. Now, after several years of investing and building a team, our company helps a select number of people acquire properties in Alabama.
If you do not want to use a turnkey company, another great option is to partner with an experienced real estate investor on purchasing a property.
3 – Get Your First Property
No matter how you go about acquiring your first property, I advise you to set a goal date for your first acquisition and just get it done. Your first property does not need to be the most perfect, highest-returning property in the area. A LOT of the value in purchasing your first property is the learning experience. So, find a property that helps you meet your financial goals and go for it! Once you have your first property under your belt, building your portfolio gets MUCH easier.
3 Steps to Designing a Great Flip
Some people have a natural gift for color, texture, and reimagining spaces. I have many talents, but having an “eye” for design is not one of them. Learning how to design our flips is a skill that I have had to learn and hone over the years.
6 Major Items to Look at in Investment Properties
When looking at potential single-family investment properties, I like to personally inspect six major maintenance items: 1 - roof, 2- foundation, 3 -plumbing, 4 - electrical, 5 - HVAC, and 6 - water heater. These are the six major components that usually cost investors money, so here are a few tips about what to look for when evaluating each item.
Investing in Real Estate as a Hedge Against Inflation
Rising inflation is one of the biggest fears in the market today. By May, some economists expect headline inflation could be running at an year-over- year rate of 3.5% or more. By comparison, the headline rate was last at 2.5% in January, 2020. This begs the question, “what should you do to hedge against possible inflation?”
Why You Should Invest In Mobile, Alabama
Duratus Properties recently turned 3 years old on March 11th! We are so happy to look back on all that we have accomplished over these past 3 years! There are big things on the horizon for Duratus Properties including our recent expansion into the Mobile and Baldwin County markets.