Layman’s Guide to Real Estate Investment: For People Who Want To Build Wealth Through Real Estate, But Don’t Know Where To Start
When executed properly, real estate can be one of the best vehicles for building wealth. However, the barrier of entry can seem daunting. With more than 30 years of experience in the development, construction, and real estate industry, Cindey Nordman is dedicated to helping common people build wealth through real estate investment. Originally from the midwest, Cindey moved to Ponte Vedra Beach, Florida 10 years ago and has quickly become one of the most sought after real estate agents in the area. Her background in construction and development has uniquely positioned her to provide excellent real estate and investment advice.
Regardless of age or income level, nearly anyone can be successful with real estate. Today, Cindey shares her top 3 tips for the new real estate investor.
- Start small. Cindey recommends that new investors get their feet wet by investing in a single-family home that is well within their means and doesn’t have hefty HOA fees. Ideally, this home should have at least 3 bedrooms and 2 bathrooms. With this strategy, investors should select a home that is at the very lowest end of the market. In the Florida market, buyers may be able to find a home for between $100 – 150K. Next, the buyer will rent out the home and begin bringing in monthly income to put towards the mortgage. According to Cindey, this is a no-lose situation. The buyer has had very little initial output, but the potential for a huge reward. In most cases, there is nowhere for the property value to go, but up.
- Buy a duplex. If an individual has a bit more funds available, a duplex is one of the best investment decisions they can make. The buyer can live on one side of the duplex and rent out the other. Their tenant’s rent will most likely pay most, if not all, of the monthly mortgage. After a few years, if they’re ready to move on, they can rent out the other side and now enjoy double the rental income.
- Scale, scale, scale. Once you get started in real estate, you have infinite potential to scale your investment. Cindey has clients who have begun with one property and now have 30 properties that they rent out! “At some point, your rental income can become your full-time income!”
To learn more about getting started in real estate investing or buying or selling a home with Cindey Nordman, visit www.cindeynordman.com.