Published on June 4th, 2014 | by Anica O0
4 Ways Your Job Can Help Jump-Start Your Real Estate Investing Business
If you’re interested in the real estate business, you might be at a loss. Where are you supposed to begin? Let’s face it, it’s tough to start your own business and the challenges can seem daunting, but your day job can actually be quite helpful if you’re looking to become an entrepreneur. Sure, on the surface it may seem like a hindrance, but the simple fact is that your day job serves as a major advantage on your way to owning your own real estate investing business. Here are four ways that your job can jump-start your real estate investing business. Study these strategies carefully and you’ll be well on your way to starting your own successful real estate venture!
1. Getting a Business Loan
If you’re just starting and don’t have any properties yet, you probably need someone to front you the money to begin your business. Even if you start out with a fixer-upper or small property, you’ll still need quite a bit of cash. By having a steady job, banks are more likely to approve you for a business loan. Having two sources of income means that you’re more likely to be able to afford a loan than someone who doesn’t have a day job.
While you should be scouring the internet and newspapers to find your first property, don’t forget to let everyone at the office know that you’re looking to buy. People that know you are more likely to offer you a good deal on a home or apartment building, and even if they aren’t currently selling real estate, they might know someone that may have some real estate leads. Make no mistake about it, co-workers can serve as a valuable resource in acquiring your first property.
3. Staying Afloat
It really depends on the economy of the area that you’re in, but sometimes it can take some time to find a renter for your apartment or a buyer for your house, and if you invest in a fixer-upper, it can take even longer. Having a steady source of income will allow you to make a living while waiting for a return on your investments.
4. Finding Clients
Whether you’re renting or selling, you need clients. No matter what you do for a day job, your coworkers all need a place to live. Having a personal connection to your clients can really jump-start your business, especially if you’re into rental properties. By choosing to advertise to people you know and consider responsible, you’re less likely to have problems with your tenants.
When you’re trying to start a business and get into real estate investing, it can seem like your job is just going to get in the way of your dreams, but as outlined above it can greatly aid your efforts. You just simply have to know how to leverage your job. By using the advantages of your day job wisely and incorporating the four strategies above, you can jump-start your business and reap the rewards of your hard work and effort.