Up to now, a lot of people keep asking me this question: “How do I get started with real estate investing?”. It’s quite common really. People want to invest in real estate, but don’t know how or where to start. Today, I’m going to answer this question through a video.
Maybe you’re one of those wannabe real estate investors who gather listings of foreclosed properties from several banks, and from the Sunday edition of Manila Bulletin, and yet you really don’t know what to do with all those properties. Those listings would just end up in a pile, somewhere in your house.
I can relate because that was exactly how I felt years ago. I wanted to start investing in 2005, but I actually bought my first foreclosed property several years later.
Looking back, there were three things that helped me to begin to “see” good deals.
It’s not that there were no good deals, it’s more like I did not know what I was looking for. And yet good deals were under my nose, but I could not see them.
I have a pretty long answer to this question, so I’ll just answer through a video.
Note: This video is 26 minutes long, so grab some coffee before watching. 🙂
Update: We noticed last night that the video loads slowly or stops loading when a lot of people are watching at the same time, so we changed where we host the video. We tested and it now loads fast and has been watched 151 times (as of 10:26am, July 11, 2015). If you were not able to watch yesterday, sorry for the hassle, please try again. Thanks!
Click to watch video: How to get started with real estate investing
Please tell me what you think by leaving a comment below the video, and don’t forget to like/share. Thanks!
Sir jay, i manifested my desire to buy one of the properties of BFS several times already through email, but they don’t reply my messages. Are the properties listed in this site for sale? What am I suppose to do?
Hi Robert, sorry but the best way to contact them is to call them up.
sir jay, i really want to “test the water” dito po sa foreclosure real estate investing, pero ako po ngayon ay OFW sa Singapore. possible po ba na magawan po ito ng paraan? salamat!
Hi Erwin, just like my answer to a similar question on the video page, it’s possible if you can outsource or delegate to someone you trust, pero kailangan mo umuwi para sa final decision kung go or hindi mo bibilhin ang isang property. Eto yung sagot ko:
The quick answer is yes, but you have to come home at some point to make the final inspection and decide if you really want to buy a property.
Here’s my long answer. It’s true that you can outsource or delegate just about every aspect of the buying process (inspecting a property, due diligence, attending an auction, submitting offers, signing of contracts through an SPA, transfer of titles, property management, etc) so in that sense, yes, you can invest while you are abroad. However, there are things you cannot delegate/outsource like making a decision to buy a property and paying for the downpayment and monthly amortizations (yes, you can delegate making payments but I would highly recommend NOT doing that, just do it yourself through online/bank transfer, etc). Which is why in my opinion, you still need to come home at a certain point to make a final inspection (to verify the info you got from those who assisted you) which will help you to make the final decision to buy a property or not.
As to which is better, rental or buy and sell, I would recommend both. If you have a lot of capital, then buy rental properties, although this will tie-up your funds in exchange for long term cashflow through rental income. Buy and sell on the other hand can produce more capital which you can re-invest to buy and sell again which can raise even more capital, which you can then use to buy rental properties.
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Thanks!