Real estate investing isn’t a short-term strategy to create wealth; it’s a long-term game. But how can someone get started making progress? Today’s guest, Abhi Golhar, is here to answer our questions. A much-sought-after voice in real estate investment and entrepreneurship, Abhi has written for publications like Forbes, Inc. and the Huffington Post. So we’re thrilled to learn from him how to expand our wealth through real estate investing.
Say you have a few grand saved up. What next?
- How can you be empowered to solve the problem if you don’t even know what the problem is? (Hint: you can’t.)
- If you’re in college looking to the future, recognize you have time on your side. Don’t go all-in on something you don’t understand.
- Understand the type of investor you want to be because it takes money to make money.
- Don’t take crazy risks; just save wherever possible and focus on understanding the market.
The game of education is a game of finance.
- If you’re young, put yourself in a position to do something with it. Don’t let the classroom be your limiting factor.
- For real estate investing, start in a city with a relatively low cost of living and flip houses with a low purchase price.
- Partner with people who understand debt, equity, and bank financing so you can learn and be set up for future success.
How to knowledgeably invest in property:
- If you are overpaying for property and assume the market will increase by the same amount each year, you’re making an impulsive decision.
- Make data-backed buying decisions. Buy within your price range and don’t go over 120-150% of the list price. (Because that’s where people start to run into trouble.)
- Real estate is not a get-rich-quick situation – it’s planning to create something great for the future.
Abhi’s advice to his younger self? It’s okay to break up with relationships that don’t make sense, including your relationship with yourself.
Be Better Episode Resources:
- Read his book “Make It Rain,” available on Amazon. (Or, email firstname.lastname@example.org to receive a free copy!)
- Connect with Abhi on Instagram, LinkedIn, or visit his website.
- Listen to Abhi’s podcast, the Think Realty Podcast.
- Like, subscribe, and listen to the Be Better podcast on Spotify, Apple Podcasts, Google Podcasts, and anywhere else podcasts can be found.
You can help build a better world.
Help Better Homes and Gardens fight homelessness across the world by donating at bhgre.com/newstory. With a goal to raise $100,000 by the end of 2022, your contributions will go directly to supporting those affected and helping build a world with homes for everyone.
This episode is brought to you in part by Better Homes and Gardens® Real Estate.
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