Real estate investing is perhaps one of the most profitable forms of investing, but it has its challenges as well. How well do you know the legislation in the area you want to buy a property? What’s the most important step towards shifting away from the business and getting more time with family and friends? What role does technology play in investing? On this episode, Sharad Mehta shares his story of how he built a business with over 600 deals in 6 years while starting from scratch.
I could have the best systems in the world-- but if I don’t have the right people, nothing will get done. -Sharad Mehta
Before you start investing in real estate, make sure the laws favor you, and that you won’t have any issues evacuating a troublesome tenant.
When buying a property, don’t think about the value it will have if you sell it. Consider the value it will have if you have a steady stream of income from a tenant.
The most important element of the business is the people you’re working with. When you have people who you trust on your side, you don’t have to be constantly involved in the process if you have the right systems in place.
Don’t shy away from using technology to communicate with your contractors. You don’t need to be face-to-face all the time to build a good business relationship.
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In the beginning of the the episode, we talk about how advantageous it is to invest in real estate because you get a bigger cut. We also discussed the importance of researching the laws of the state you will buy property in.
Sharad also shared insights on:
- The importance of finding the right people
- How to be prepared for the next opportunity