Should You Do Real Estate Full-Time?

Many self-acclaimed real estate gurus state that everyone should quit their jobs and immediately jump into full time real estate investing. They often claim incredible results from students with little experience. We would like to caution that life-changing decisions are not usually simple and that full time investing is not for everyone. Let’s discuss some pros and cons of full-time versus part-time investing.The Full-Time InvestorEntering into the real estate profession on a full-time basis offers several advantages over a part-time commitment. Being successful requires you to develop knowledge in many aspects of real estate, and more time focused on real estate leads to greater knowledge. The more your learn, the more you earn, since you do not need to rely on as many professional services or partners for help. You also learn to recognize a deal (or a dud) faster, which gives you more time to do more business or spend with your family.As a full-time investor, you work your own hours. When we say “full-time,” that may mean as little as twenty hours per week if you are good at finding deals. The rest of your time can be spent pursuing other vocations or hobbies. Or, if you are so inspired, you can work forty or more hours and use the extra cash flow to buy rental properties or diversify your holdings in the stock market. The point is that you need to satisfy your cash flow needs before you can start “investing” your money.One final point you should consider is whether you want to be “self-employed.” If you have always worked for someone else, being your own boss sounds very attractive. In some, respects, this isn’t quite the truth. Being your own boss means being an accountant, bookkeeper, stock clerk, receptionist and office manager all-in-one. You have to do deal with tax returns, payroll, office supplies, customer service, bills and all the other hassles that come with a business. You don’t have friends to chat with at the water cooler. You don’t have paid health insurance, a company car and a 401(k). You take your problems home with you every night. Sound like fun? It is, once you learn how to master your time and run your business. Being the master of your own life and career is well worth the other hassles of dealing with your own business.The Part-Time InvestorThe part-time investor holds a “regular job.” This may be by choice or for the time being until his real estate ventures are bringing in enough cash to quit his job. If it is the latter reason, don’t quit your job because the real estate “guru” told you so. Quit your job when it is not worth the income that it brings you. In other words, if you are making more money per hour flipping properties on the side, you are at the point that where your regular job is costing you money. Only then, is it time to quit!One of the advantages of starting out part-time is that you can maintain cash flow while learning the business. It may take weeks or possibly months to find your first deal. That same deal may take several months to turn around, especially if you decide to fix it and sell it retail. Think twice before telling your boss you’re leaving; you will have plenty of time to make the career switch once you have real estate experience. You may, on the other hand, like your occupation. If so, continue to work at it, and invest in real estate on the side.The best case scenario, if you are married, is to have one spouse work a regular job. The other spouse work the real estate business for creating wealth, retirement income and a nice college fund for the children. Of course, in today’s market, you could be laid off due to unforeseen circumstances. If you earn additional income flipping houses and invest the proceeds into rental properties, you will be covered if your main income is lost. This is especially the case for married women that often forego a career and raise a family, only to find themselves divorced with no means of making a living. We don’t want to sound cynical about marriage, but with a fifty-percent divorce rate in America, it never hurts to have a system for making money.Someone with a full time job tends to have little free time to focus on real estate. A part-timer should learn most of the same skills as a full timer. Thus, the key disadvantage to flipping properties on a part-time basis is that it takes sacrifice to learn the business. Something has to give; television, lazy weekends, meaningless hobbies and even some family activities must be compromised. As with any education, time spent learning about real estate will bring its own rewards, especially if the people in your life understand your goals and your plan to achieve those goals. If you are married, make sure your spouse reads this material with you and participates in the fun process of making money.Treat Real Estate as a BusinessPeople are lured to real estate because of the quick buck that it promises. Don’t hold your breath, you won’t get rich quick. An “overnight sensation” usually takes about five years. More than ninety percent of the people who take a real estate seminar quit after three months. Real estate investing should be treated with the seriousness of a career. It takes months, even years for a business to cultivate customers and have a life of its own. You need to treat it like any other business.

How to Use Internet Marketing For Your Real Estate Business

If there is one drawback of online real estate marketing, then it must be the perennial issue of lack of budget. As an independent real estate contractor, you usually have to pay for your own marketing expenses. Moreover, most national publications published online will charge a hefty fee just to be able to include your business on real estates inside their pages. However, if you really sift through the internet, you can find that there are still online publications that will only charge you with a modest amount for publishing your real estate business in their pages. What’s nice about these online publications is that they convince a lot of people to buy what you are selling because of the flashy hype that they use in their web pages. In order to further improve your chances of selling, you need to know the three important factors for the predator marketing system: traffic generation, lead generation, and an automated closing sales process.Promoting Your Business through Affiliate MarketingYou can actually compare online business forums to a Chamber of Commerce. Of course, you have already heard what a Chamber of Commerce does in a community. The Chamber of Commerce is a place where all businessmen in the community go to in order to ask for some kind of assistance. And the assistance that the Chamber of Commerce gives can range from marketing ideas down to technical problems due to business and networking-related concerns. In fact, online marketing can be a great opportunity for businessmen of all shapes and sizes. If there is anything that will prompt visitors to visit your site, this is it.In reality, there is still a lot of room at the top for a real professional and a great marketing consultant to occupy. With all the wannabes proliferating in the world of online businesses, the real professionals can deal with them like a piece of cake. All these tricky tactics that these wannabes employ are nothing compared to the strategies that marketing professionals can do. You need to have a business plan that has a marketing section. In it, you can have a guide for your online marketing strategies and promotion activities. Since the distributor nowadays has less work because he does not need to devote a lot of his time towards a single sale, the money that a company allots for its distributors can now shift from sales commissions to downlink commissions.If you want to have an online market that honors 1031 tax deferred exchanges, you should advertise in an online publication made especially for the real estate market as well as for 1021 tax deferred exchanges. An internet marketing company will not only help you in your search engine optimization and graphic design work, but also in a lot of other business-related services. Because of this, you can potentially earn money in a regular manner. Online marketing is as simple as presenting your products and services in an appealing and convincing manner.Strategies in Online MarketingWhat else will you need when you know how to do online marketing? I know people who have well-off businesses in the real world, but they have spent so much to keep their business growing. On the other hand, I know of online businessmen who simple work at home without being so stressed out with money matters. This is because they make use of multilevel marketing tactics, enabling them to earn as high as triple or six times their capital. In essence, the internet is a great place to make money, as well as keep track of a communication with a customer and envision what will happen over time.