We all know that the real estate market is challenging, particularly in Temecula Valley where there are lots of companies, investors, and people offering their services for property management and real estate sales.
While every person has their own way of doing business, it is a fair question to ask whether real estate businesses, especially rental property businesses, are worth the shot or not.
We won’t take it any further. For Tyson Robinson and the rest of the Trillion Real Estate team, the answer is, yes, it is worth the shot. The question most people subconsciously have though, is how can one start and how can one make it until the end? Here are some of the highlights that we have put together to help you begin your rental property journey in Temecula:
A Test of Time
There is no instant formula to get rich and if there are people claiming such, those probably aren’t stable enough to last long. As they say, easy come, easy go.
In a recent Hemlane podcast, Michael, a real estate investor, highlighted the lessons he learned in his real estate journey. Starting from one rental property to 177 properties, his "Aha! moment" was surprisingly revealed when he left his corporate job and faced challenges with a tenant that helped him realize the importance of perseverance in real estate. His motivation to share his real estate experiences with others made him emphasize that real estate tests individuals differently, yet it is safe to say that it is best to stay in the game for at least five years, as that is the ideal time frame (based on his experience) to notice real estate growth.
Advice To New Investors
Acquire properties gradually, focus on being a good operator, and observe the current trends in real estate. At present, there is a bigger preference for single-family rentals while larger, multi-generational homes are at a rising phase. Additionally, there is an emerging trend on Accessory Dwelling Units (ADUs). Apart from property owners getting increased cash flow, ADUs help address housing shortage by providing affordable options to those who are still in the process of building their income.
Build Your Business with Strong Support
One of the pitfalls of neophyte real estate investors is choosing who they partner with. There will always be challenges along the way, no matter how much you have researched or prepared yourself. Finding the best people to team up with is the key. A great example is Trillion Real Estate, a team of Temecula real estate agents who has helped thousands of real estate clients in and out of California by taking care of property management, selling homes, and finding the best properties that homebuyers can benefit from.
In reality, there are plenty of things to learn when it comes to real estate. There is no way everything can be taught in a day or stays constant forever. Having a strong real estate team in your corner is a great way to rise in the market and be more comfortable with the ups and downs that comes with it. Some of things that a strong team can help you with are: advertising, advising caution due to regional variations in rules and regulations, streamlining real estate processes such as collecting monthly fees from tenants, and property maintenance.
For more tips, short videos, and smart real estate advice, you can follow Tyson Robinson through the following channels:
Instagram: @TrillionRealEstate and @TysonRobinson
Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.
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