Like most people, I didn’t really know what I was getting in to when I started working in the field of real estate investing. Fortunately, I met a man named Phillip from Bainbridge Island, Washington who showed me the ropes and gave me quite an education about real estate investing, working with real estate investors and what to look for in a rental property.
Over the course of about 18 months I learned a ton from that man. He hired me to liquidate a couple dozen of his income properties and it was education by immersion. Here are a few of the things that I learned along the way that I wished I had known from the very beginning;
- The difference between proceeds and profits.
- Cash flow versus appreciation and the inverse relationship.
- What a quality property looks like.
- What a quality tenant looks like.
- What a quality property manager looks like.
- Trust, but verify.
- How to measure returns in a way that is meaningful to your situation.
- What a real estate investor is looking for in a real estate agent.
- What a real estate agent is looking for in a real estate investor.
These are just a few of the seemingly simple categories that deserve a lot of attention in your thought process of acquiring residential income property. We can talk about these in detail. All you have to do is invite me out for a coffee or beer…or heck,we can talk by phone.
Ad Astra Realty, Inc
2011 E Crossroads Ln #305
Olathe, KS 66062