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Chat's with Matt 3 Action Steps to take to Become a Full Time Real Estate Investor

987 views · Published 1 March 2018 · 10:47 · Indexed 26 October 2026

Channel: DeRosa Group · 2018 · Education

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Hey Youtube,

Welcome back to another episode of Chat's with Matt.  On today's show I'm bringing back Matt McDonald to discuss 3 action steps you can take to become a full time real estate investor.  So let's jump right in.

Step #1
Have a solid set of goals and a business plan.  This is the starting point because it'll give you direction and guidance on your why and how you're going to achieve those goals.  Also make sure that you include your spouse in this process.  Sit down together and review what those goals will look like 1, 3, 5 years out.  This will give your spouse the vision of what you're working towards.

Step #2
Have some streams of income.  When starting a business it takes time to get it off the ground.  Having some stream of income will help alleviate the stress that you're sure to endure.  Also having some type of income helps to create a smoother transition when you're in the beginning stages of building your business.  You can go all in if you want, but this method can cause a lot of sleepless nights if you're not making enough from your business to cover your living expenses.  Also try to minimize your over head as much as possible.

Step #3
Last but not least you need to have some type of cash on hand.  This is where most people tend to go wrong or are mistaken to think that they can get in to real estate investing with no money down or out of pocket.  The reality is that you need money to live while you're working on finding deals.  There's no free lunch.  Most investors start with trying to get into wholesaling just because they don't have any money, but not everyone should be a wholesaler.  There's so many factors that come into play when wholesaling and the reality is that it takes money to finds deals.

Hope this helps and as always, "Have a great and profitable week"!

As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode!

Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/
Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. 

Check it out:  https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/

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