Month: July 2021

Updated July 27, 2024. The goal and dream for many real estate investors is to earn $1 million dollars a year. Your goal: find the best real estate strategies to make 7 figures. The question is: is this possible?

I can tell you without a doubt, that it is possible, and I have seen people do it. For example, Billionaire Andrew Carnegie famously said that 90% of millionaires got their wealth by investing in real estate.

As a result, real estate is one of the best ways to seek  wealth through investing and achieve financial freedom. In conclusion, in order to preform such transactions, you will need all of these factors below working together.

Factors To Make Seven Figures

Overall, your plan is to understand and then to set a goal so that you can achieve the best real estate strategies to make 7 figures.

Large Deal Flow

Having and maintaining large real estate deals is extremely important. You will need to know all the opportunities currently in the market, and work on getting as many good ones as possible.

Strong Analysis

You will need to evaluate properties and deals very fast, ignore the bad ones and work quickly on the more lucrative ones. To do this as efficiently as possible a team is necessary. Make it your goal to slowly and maintain the best team possible. In short, having an amazing team means making genuine investments in relationships because this is the key to relationship equity.

Large Customer Base

You will need to be able to communicate with many relevant investors, cash buyers, and real estate agents. Investors needs to have an updated cash buyer list ready and active in each city or region that you work. Have an excellent real estate attorney for these cities and regions that can handle doing assignments and also do double closings if necessary.

Value Of Properties

Most of the people I know, who have been able to pull it all together, are people that started with a small capital and low value properties, and gradually develop to do large flips. In order to make 7 figures annually flipping, you will usually need to buy and sell a wide price range of houses. Be ready for housing prices that are dirt cheap to expensive properties.

Wholesaling houses is an excellent way to make profits quickly without having to actually rehab the houses. You and your team can make a nice income from wholesaling. However, looking at each deal individually, many times even more money can be made by rehabbing houses. Then when the project is finished, put the house in the MLS and look for a motivated retail buyer to pay full value. 

Financial Backing

If you are buying expensive properties, you need to be able to face situations where you don’t necessary have another buyer to sell to, and you are ok with paying for this property and not selling it for a few months.

Real Estate Fund

Pretty much any type of business that wants to scale can use a fund to achieve there goal. Therefore, to have the necessary financial backing, a real estate investor needs to have a real estate fund.

Setting up a fund is time consuming but it will pay off. Therefore, depending on the price of houses in your area, you should set your initial goal of having a fund with $1 million. Then continue networking to build the fund to $5 million, $10 million and up.

Best Strategies To Be A Millionaire

Over the last two centuries, about 9o percent of the world’s millionaires have been created by investing in real estate. What are the best strategies to buy and sell houses for profits? Here are three Real Estate Investing Strategies That Work Every Time.

These three Real Estate Investing Strategies That Work Every Time are: residential rentals; wholesaling; and rehab and resell. These three strategies are among the most popular real estate strategies that produce consistent results regardless of the timing. Please read my blog on this topic.

A Win-Win-Win Strategy To RE Wealth

These three real estate investing strategies that work every time are the keys that have made real estate investors very wealthy. They are the win-win-win strategy to real estate wealth. I have made very nice profits with these property strategies and I am sure you can too.

If you are interested in learning the best ways to to improve your rental property cash flows, please read my blog on the three ways to Boost Your Rental Property Cash Flows. These unique strategies will clearly help you build wealth as a real estate entrepreneur.

To Become A High-Net Worth Individual, please read my blog and watch the YouTube video by a fancinating guy named Andrew Hendersen, founder of Nomad Capitalist. In addition, please check out the YouTube video How To Become an Ultra High-Net Worth Individual. He believes that the world has changed forever and says it’s time for you to “go where you’re treated best.”

Set Goals To Succeed

The goal and dream for many investors is to earn $1 million dollars in a year. Have you achieved it already? If so, congratulations! You understand the factors needed to achieve this goal.

If you have not achieved this goal, go for it! Make it your goal to have first have the knowledge and then take action and unleash the best real estate strategies to make 7 figures!

Please feel free to add any comments or questions as you go through the journey. I wish you all the best!

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Last Updated on July 27, 2024 by Financial Goodness