Real Estate Tips to Start off the New Year

real estate tips

Real Estate Tips to Start off the New Year

Happy New Year WealthBuilders family! I think I speak for all of us when I say I feel blessed for the turn of the year. Many of you are finding it challenging to make goals this year because it doesn’t really feel like a new year. Some of you are still struggling with business closures, financial troubles, or health scares. If that’s you, know that Becky and I are praying for you and your recovery. However, if you are entering this new year ready to make some changes and secure another stream of income, I’d like to offer some tips when entering the real estate market. Investing in real estate was a major catalyst of change in my life that brought me to where I am today. If you’re not sure what goals you should make this year, I encourage you to consider real estate. In today’s blog post, I’m going to give you some tips for beginners that will make your entry into the market as seamless as possible.

Beginner Real Estate Tips

Study the Market

The first thing you should do in any endeavor is research, research, research. If you’ve never bought a house or looked into the real estate market, I encourage you to start here. Each city and state has such different price points, taxes, and laws. It’s imperative you understand these things before you jump in. I encourage you to start the research on your own, but you should also be working with a good real estate agent, who will help you adapt to the market in your area.

Don’t get caught up comparing the real estate in your area to the real estate in other areas you have no intention of moving to. Comparison will give you an unrealistic idea of what you can do and purchase where you’re at.

Look at the Numbers

Once you understand the market in your area, you should begin to understand the formulas that will lead to success. In my real estate teachings, I always include the formulas that have led to success for me. These formulas are incredibly important, and whenever I work with a real estate agent, I make sure they know my formulas as well. The biggest risk in real estate is making a bad investment.

If you are purchasing a property to rent out, you should always be getting at least 1% of the purchase price of the home per month in rent. If rent in the area you’re looking to buy in fits that formula, then you could be in a place to make some cash flow.

Connect with Other Investors

While my real estate events are packed with actionable information, the biggest piece of feedback we always get is how powerful the networking opportunities are. When you attend one of my real estate events, you can connect with investors who are further along than you are who might be able to mentor you. You also have the opportunity to connect with investors at the same level as you. This particular relationship is powerful because it allows you to problem solve together. It also helps assure you that the problems you may face along the way aren’t unique to you. Finally, when you connect with investors who are less advanced than you are, you get the opportunity to teach. Teaching others is one of the best ways to learn, afterall!

I always say you need to start with knowledge and understanding before you move to wisdom. This post gave you the tools and tips to begin your real estate journey as we go into the new year. What are some of your goals for 2021? Let me know in the comments below! You can find my real estate calculator, teachings, and free resources on my website.

Billy Epperhart
Billy Epperhart
  • May matsana
    Posted at 10:48h, 04 January Reply

    Thank you ,

    Message was very helpful, I have 2 properties and I am not succeeding, I am debt, trying help my partner .your prayers will be appreciated

    • Hannah Grieser
      Hannah Grieser
      Posted at 12:20h, 07 January Reply

      Our team will be praying for you! Thank you for reading and blessings to you.

  • Adekunle Peter
    Posted at 11:11h, 04 January Reply

    thanks so much sir.

    *reading more books on real estate
    *investing into real estate
    *A voluntary service for a year in an estate firm..

  • Brenda Martin
    Posted at 13:18h, 04 January Reply

    One of my 2021 goals is to look into beginning real estate acquisition for myself, my sons, then teach family/bloodline members and to build a real estate portfolio until I achieve $100 Million in real estate…so I have a lot to learn

    • Hannah Grieser
      Hannah Grieser
      Posted at 12:19h, 07 January Reply

      Good luck, Brenda! That’s a great goal. We hope that our services and content will be of use to you.

  • Janet Green
    Posted at 21:19h, 04 January Reply

    Billy, I have been looking at real estate in my area. I looked into a 3 bedroom 2.5 bath in my area and they had it listed ay 320.000. my home is valued at 240,000. in the area. 4 b and 2.5 bath. I also check out a rental 3 doors down, they have a 4 b 2.5 bath asking for 1975.00 per month for rent. I consider that very high. When using your formula it didnt work. I’m still looking and will let you know when we find out 2nd home. Janet

    • Hannah Grieser
      Hannah Grieser
      Posted at 11:12h, 20 January Reply

      Best of luck with your investments, Janet! We look forward to hearing more updates.

  • Melanie Mchinzi
    Posted at 01:36h, 06 January Reply

    2021 goal is to own our own house and stop paying rent

  • Alex & Karen Mbaziira
    Posted at 11:34h, 06 January Reply

    Hey Melanie, that is our goal as well!!!!
    Thank you Billy and Becky for the year start off tips!!!!

  • Mthokozisi Mthethwa
    Posted at 01:11h, 08 January Reply

    Thank you how can I get your network events I am South Africa, KZN.

    • Hannah Grieser
      Hannah Grieser
      Posted at 10:46h, 18 January Reply

      Hello! Thank you for your support of WealthBuilders. Most of our events are livestreamed, so be on the lookout for upcoming workshops such as our Real Estate Mastery Workshop coming up in the spring! You can also find a lot of free content on my youtube channel:

  • Hassan Luka
    Posted at 03:29h, 08 January Reply

    This is a great massage
    A Very Thanks for Insight

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