If you want to get incredible real estate deals, you must be an intelligent investor. The first step for getting the best deals is to be aware and educated. It would help if you never rushed into the market without knowledge. Research is paramount, and in case you cannot do it on your own, you must seek the counsel and advice of a good company or agent specializing in the same to do it for you.
Eugene Bernshtam- an expert, speaks on how to get profitable deals
Eugene Bernshtam is a leading real estate professional in the USA and an avid car collector. When he is not working in real estate, he is actively engaged in car restoration projects. He is among the licensed auto dealers under the Illinois Secretary of State and a member of America’s Lamborghini and Ferrari Club. Over the years, he has also received multiple awards in classic automotive judged concourses. His hobbies are scuba diving, weightlifting, and traveling.
Real estate is a potent trigger of wealth for everyone
Real estate has been the trigger of wealth for several people more than any other industry. However, many people are still apprehensive about the market and scared to enter it. Some individuals believe they should begin with a capital. However, this is not always needed. The one magical power you need is to know where to find money in the deals you enter into. Here, knowledge of the market comes in handy, and you should be aware of the latest news and trends.
Earning profits in real estate for the future
When it comes to generating income in real estate, there are two popular ways to earn an income consistently. You can generate passive income by purchasing and holding real estate. At the same time, you can make an active income by entering into contracts, conducting renovations, or adding value to a property in one area. You can even generate revenue by putting together deals in property development. This might seem to be overwhelming in the beginning. However, it will no longer be intimidating once you gain experience in the field.
How can you earn income from real estate with no money?
You can generate income from real estate with no money in the following ways-
- Seller financing via lease options
- Trading of fixed assets like jewelry, cars, etc
- Taking over the mortgage payments of someone else who might be in a distressed position
- Bringing in a partner who has cash for investment
- Taking a bank loan
- Taking a home equity line of credit
- Optimizing a peer-to-peer lending channel
According to Eugene Bernshtam, investment in real estate works on cash flow, and so you must ensure that you get a positive cash flow every month. This means the income should exceed the outgoing expenses. This is called a positive cash flow. This works for both long-term commercial and residential rentals. It works for vacation rentals in the short run as well.