Rags to Riches Twice! Real Estate Investing From Scratch w/Jeremy Beland
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Episode Description
Welcome to the Freedom Point Real Estate podcast! Today's guest, Jeremy Beland, joins Jeremy Dyer to share his story of building success from the ground up, discuss what he attributes his success to, explain how he evaluates investment opportunities, and more.
Jeremy and Shelly have done amazing things in real estate. Since 2017, they've bought over 400 properties in six states, starting with just $11k and a big dream. Even with full-time jobs and five kids, they made it work, downsizing in 2016 to invest more. Now, their business is booming, and they're helping others find success too. They believe in giving people the chance to achieve their dreams through real estate. All their hard work has paid off, giving them the freedom to live life on their own terms.
CONNECT WITH JEREMY BELAND!
Linktree: https://linktr.ee/jeremybelan
dCONNECT WITH JEREMY DYER!
Website: https://startingpointcapital.com/
Instagram: https://www.instagram.com/startingpointcapital/
LinkedIn: https://www.linkedin.com/in/jeremydyer
Facebook: https://www.facebook.com/startingpointcapital
Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12
Summary
Tip #1: Perseverance is Key
"The skill that has got us here is definitely perseverance. You know, I tell people in my industry and my company, those who survive will thrive."
Perseverance is fundamental in the real estate industry. The ability to keep pushing forward, despite setbacks and challenges, often separates successful investors from those who fail. Staying committed to your goals and continuing to learn and adapt will eventually lead to success.
Tip #2: Build a Solid Team
"You have to find the right people and build a solid team because you can't do everything alone."
Success in real estate often depends on the strength of your team. Surrounding yourself with knowledgeable, reliable professionals such as property managers, contractors, and financial advisors can make a significant difference. A solid team can provide the expertise and support needed to manage investments efficiently and capitalize on opportunities.
Tip #3: Investing in Education
"We have to be continuing to learn, grow, and adapt."
Education doesn't end once you've made your first investment. Successful real estate investors continually educate themselves about market trends, investment strategies, and new opportunities. Staying informed allows investors to make better decisions and avoid costly mistakes.
Tip #4: Building a Strong Network
"Networking within the industry can provide invaluable support and opportunities."
A strong network of industry professionals, mentors, and fellow investors can provide guidance, support, and opportunities. Building relationships with others in the field can lead to partnerships, referrals, and insights that are not available through formal education alone.
Tip #5: Embracing Flexibility
When you find out that things aren't going to work out, being able to pivot, shift, or figure out how to make it work is very important."
The real estate market is dynamic, and conditions can change rapidly. Being flexible and willing to adjust your strategies in response to market changes is essential. Flexibility allows investors to capitalize on new opportunities and mitigate risks effectively.
Tip #6: Understanding Market Trends
"If you're not watching those trends, you're gonna get caught off guard."
Understanding and staying updated on market trends is critical for successful real estate investing. Knowing where the market is headed can help investors make strategic decisions about when and where to invest. This knowledge can also help in predicting potential downturns and planning accordingly.
Tip #7: Risk Management
"A big part of it is understanding risk and how to mitigate it."
Every investment carries some level of risk, but managing that risk can protect your portfolio and ensure long-term success. Diversification, thorough due diligence, and contingency planning are essential components of a robust risk management strategy.
Tip #8: Focus on Cash Flow
"Cash flow is the lifeblood of any business."
Cash flow is the lifeblood of real estate investing. Ensuring that your investments generate positive cash flow can provide financial stability and enable you to reinvest and grow your portfolio. It's crucial to analyze potential investments for their cash flow potential before committing.
Tip #9: Leveraging Technology
"Technology has been a game-changer in real estate."
Technology can significantly enhance the efficiency and effectiveness of real estate investing. From property management software to market analysis tools, leveraging technology can save time, reduce errors, and provide valuable insights that drive better investment decisions.
Tip #10: Long-Term Vision
"Having a long-term vision is crucial for success."
Real estate investing is not a get-rich-quick scheme; it requires a long-term perspective. Having a clear vision of your goals and being patient as you work towards them is critical. This long-term approach allows for strategic planning and can lead to substantial wealth accumulation over time.
