{"id":10398,"date":"2023-09-12T16:11:14","date_gmt":"2023-09-12T23:11:14","guid":{"rendered":"https:\/\/blog2.neighbor.com\/storage-blog\/?p=10398"},"modified":"2024-01-29T15:50:21","modified_gmt":"2024-01-29T22:50:21","slug":"how-to-build-a-real-estate-empire","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/how-to-build-a-real-estate-empire\/","title":{"rendered":"How to Build a Real Estate Empire That Can Set You Up for Life"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><p class=\"wp-block-paragraph\">Building an &ldquo;empire&rdquo; might sound a bit over the top, but the fact of the matter is that <strong>real estate is the most tried-and-true wealth-building method there is.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As an investor, I&rsquo;ve seen personally what a few basic strategies&ndash; and some hard work&ndash; can do to completely transform my financial situation for the better.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The best part? <strong>Becoming a real estate investor is easier than ever<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Below, we&rsquo;ll take you through everything you need to know to start your real estate empire from the ground up&ndash; whether you have tons of capital to get started or not.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh3.googleusercontent.com\/qGwsAdZbyTaIy3X5iunpbf6q5iYS3NwoSACLhZ7a9PRQBiEpPnbkLsWRQgywB9HFpNQ4Fs4DMSAfVQXWHYr8BhXW_hc_QEcwvlGkMG5fYHrWsB4HzCSnK_6Kr4FhKPeFfOdXibDzGmzfH2dbDsLAyVI\" ><\/figure>\n\n\n\n<h2 id=\"what-is-the-nost-profitable-form-of-real-estate\" class=\"wp-block-heading\">What Is the Nost Profitable Form of Real Estate?&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This is a common question but also a common misconception, so let&rsquo;s get it out of the way first.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>There is no &ldquo;most&rsquo; profitable form of real estate.<\/strong> It all depends on the market and your goals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The best and most successful real estate investors have something they&rsquo;re known for, but their real estate investment portfolio is filled with every REI method there is.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>House flipping<\/strong> is great for short-term capital and ideal in certain markets<\/li>\n\n\n\n<li><strong>Rentals<\/strong> are amazing as a long-term strategy for rental income and investing in market growth<\/li>\n\n\n\n<li><strong>Wholesaling<\/strong> allows you to &ldquo;sell&rdquo; a deal to another investor which may not be a fit for your portfolio, in exchange for a commission. Perfect for generating additional cash flow from otherwise dead leads&nbsp;<\/li>\n\n\n\n<li><strong>REITs<\/strong> allow you to own a percentage of another property, like stocks. Great for getting a piece of larger real estate that would otherwise be outside your means and for generating <a href=\"https:\/\/www.neighbor.com\/storage-blog\/passive-income-streams-2\/\">passive income streams<\/a><\/li>\n\n\n\n<li><strong>Creative financing<\/strong> is perfect as an alternative way of obtaining a property for less money down or when you can&rsquo;t obtain funding<\/li>\n\n\n\n<li><strong>Different property types<\/strong> such as single-family, multi-family, and commercial all have their unique advantages as well<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">And that&rsquo;s just scratching the surface.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As you read through this guide, think of each of these strategies&ndash; and many more&ndash; as tools in your toolbelt rather than an either-or choice.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You may start with one, but the goal will be to branch out over time and diversify your portfolio to all types of properties and investment methods if you&rsquo;re looking to build a true real estate empire.<\/p>\n\n\n\n<h2 id=\"how-to-build-a-real-estate-empire-step-by-step\" class=\"wp-block-heading\">How to Build a Real Estate Empire (Step-by-Step)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Now, let&rsquo;s break down step-by-step how to build your real estate investing empire.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The name of the game here will be <strong><em>leverage<\/em><\/strong>, as the more of it you have, the faster and easier you&rsquo;ll be able to build a large portfolio with less work.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let&rsquo;s get started:<\/p>\n\n\n\n<html><body><div id=\"in_post\">\n    <a href=\"https:\/\/www.neighbor.com\/host\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'first in post', version: '2.0'}, () =&gt; { console.log('track call'); });\">\r\n  <div class=\"first-in-post-cta\">\r\n    <header>\r\n      <h2 id=\"can-we-pay-you-to-store-vehicles\">Can we pay you to store vehicles?<\/h2>\r\n    <\/header>\r\n    <section>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path d=\"M26.7552 20.0573C26.2911 20.9853 26.2499 22.3578 26.2499 24.375H33.7499C33.7499 22.3577 33.7088 20.9853 33.2448 20.0573C33.0557 19.6792 32.8 19.3973 32.3888 19.1841C31.9442 18.9535 31.2108 18.75 30 18.75C28.7892 18.75 28.0558 18.9535 27.6112 19.1841C27.2 19.3973 26.9442 19.6792 26.7552 20.0573Z\" fill=\"#005EB8\"><\/path>\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M28.0777 4.32887C29.3195 3.87732 30.6805 3.87732 31.9223 4.32887L48.7973 10.4652C51.0173 11.2725 52.5 13.3777 52.5 15.7462V33.1425C52.5 33.7407 52.4058 34.3605 52.1888 34.9629C47.861 46.9738 35.9939 53.5676 32.1164 55.464C30.7986 56.1086 29.2843 56.1505 27.9278 55.5549C23.9729 53.8185 12.0728 47.6941 7.77513 34.8948C7.58399 34.3255 7.5 33.7394 7.5 33.1762V15.7481C7.5 13.3807 8.98165 11.2729 11.2027 10.4652L28.0777 4.32887ZM22.4998 24.1662L22.4999 24.375C20.4289 24.375 18.75 26.054 18.75 28.125V35.625C18.75 37.6961 20.4289 39.375 22.5 39.375H37.5C39.5711 39.375 41.25 37.6961 41.25 35.625V28.125C41.25 26.0539 39.5711 24.375 37.5 24.375L37.5 24.166C37.5016 22.4546 37.5037 20.19 36.5989 18.3802C36.0848 17.352 35.2859 16.4621 34.115 15.855C32.9776 15.2652 31.6017 15 30 15C28.3983 15 27.0224 15.2652 25.885 15.855C24.7141 16.4621 23.9152 17.352 23.4011 18.3802C22.4961 20.1901 22.4982 22.4547 22.4998 24.1662Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg><\/div>\r\n        <h3 id=\"list-your-unused-space\">List your unused space<\/h3>\r\n        <p>People are earning $1,000s per year from their garages and outdoor space.<\/p>\r\n      <\/div>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\">\r\n          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M13.125 9.375C11.0539 9.375 9.375 11.0539 9.375 13.125V46.875C9.375 48.9461 11.0539 50.625 13.125 50.625H46.875C48.9461 50.625 50.625 48.9461 50.625 46.875V13.125C50.625 11.0539 48.9461 9.375 46.875 9.375H13.125ZM28.125 16.875C28.125 15.8395 28.9645 15 30 15C31.0355 15 31.875 15.8395 31.875 16.875V20.625H35.625C36.6605 20.625 37.5 21.4645 37.5 22.5C37.5 23.5355 36.6605 24.375 35.625 24.375H26.25C25.2145 24.375 24.375 25.2145 24.375 26.25C24.375 27.2855 25.2145 28.125 26.25 28.125H33.75C36.8566 28.125 39.375 30.6434 39.375 33.75C39.375 36.8566 36.8566 39.375 33.75 39.375H31.875V43.125C31.875 44.1605 31.0355 45 30 45C28.9645 45 28.125 44.1605 28.125 43.125V39.375H22.5C21.4645 39.375 20.625 38.5355 20.625 37.5C20.625 36.4645 21.4645 35.625 22.5 35.625H33.75C34.7855 35.625 35.625 34.7855 35.625 33.75C35.625 32.7145 34.7855 31.875 33.75 31.875H26.25C23.1434 31.875 20.625 29.3566 20.625 26.25C20.625 23.1434 23.1434 20.625 26.25 20.625H28.125V16.875Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg>\r\n        <\/div>\r\n        <h3 id=\"approve-your-renters\">Approve your renters<\/h3>\r\n        <p>You're in control. Approve who rents and the hours of access.<\/p>\r\n      <\/div>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\">\r\n          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M31.2776 51.9974L31.7666 51.5417C32.0789 51.2503 32.527 50.8317 33.0706 50.3224C34.1576 49.3041 35.6276 47.9224 37.158 46.4698C40.1682 43.6127 43.5576 40.3461 44.596 39.1282C46.7163 36.6414 48.1719 33.6468 48.8127 30.4251C49.5529 26.704 49.173 22.847 47.7211 19.3418C46.2692 15.8366 43.8105 12.8407 40.6559 10.7329C37.5015 8.62514 33.7942 7.5 30.0001 7.5C26.2061 7.5 22.4973 8.62504 19.3428 10.7329C16.1882 12.8407 13.7295 15.8366 12.2776 19.3418C10.8257 22.847 10.4458 26.704 11.186 30.4251C11.8268 33.6468 13.2824 36.6414 15.4027 39.1282C16.4411 40.3462 19.831 43.6128 22.8415 46.4698C24.3721 47.9224 25.8422 49.3042 26.9294 50.3225C27.4731 50.8318 27.9212 51.2504 28.2336 51.5418L28.723 51.9979C29.4428 52.6672 30.5579 52.6668 31.2776 51.9974ZM28.723 51.9979C28.723 51.9979 28.7232 51.998 30.0001 50.625L28.723 51.9979ZM30.0001 50.625L31.2776 51.9974C31.2776 51.9974 31.2771 51.9979 30.0001 50.625ZM30 32.8125C33.6243 32.8125 36.5625 29.8744 36.5625 26.25C36.5625 22.6256 33.6243 19.6875 30 19.6875C26.3756 19.6875 23.4375 22.6256 23.4375 26.25C23.4375 29.8744 26.3756 32.8125 30 32.8125Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg>\r\n        <\/div>\r\n        <h3 id=\"get-paid-monthly\">Get paid monthly<\/h3>\r\n        <p>Sit back and collect automatic payments each month.<\/p>\r\n      <\/div>\r\n    <\/section>\r\n    <footer>\r\n      <button>Learn more about hosting <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" fill=\"none\">\r\n          <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M18.8304 5.17619L4.55227 11.6663H11.1779C11.8199 11.6663 12.3404 12.1867 12.3404 12.8288V19.4543L18.8304 5.17619ZM19.029 3.43822C20.0069 2.99374 21.0129 3.9997 20.5684 4.97757L13.0612 21.4935C12.5438 22.6316 10.8404 22.2627 10.8404 21.0124V13.1663H2.99417C1.74398 13.1663 1.37497 11.4628 2.51312 10.9455L19.029 3.43822Z\" fill=\"#EFF5F8\"><\/path>\r\n        <\/svg><\/button>\r\n    <\/footer>\r\n  <\/div>\r\n<\/a>\n  <\/div><\/body><\/html><h3 id=\"1-learn-the-real-estate-business-inside-and-out\" class=\"wp-block-heading\">1. Learn the Real Estate Business Inside and Out<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes to real estate, knowledge is as important as anything else. And there is <strong><em>a lot<\/em><\/strong> to learn.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Chances are, if you&rsquo;re new to real estate investing (REI), you&rsquo;ll be quickly overwhelmed with all the information there is out there.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don&rsquo;t rush this stage thinking it&rsquo;s not important. Take the time necessary to understand how every part of real estate investing works, as it will make a big difference when it comes time to implement.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Suggested REI learning topics:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Obtaining capital<\/li>\n\n\n\n<li>Generating leads (i.e. finding sellers)<\/li>\n\n\n\n<li>Closing deals<\/li>\n\n\n\n<li>Joint venturing (JV) with other buyers<\/li>\n\n\n\n<li>Wholesaling<\/li>\n\n\n\n<li>The importance of knowing your real estate market<\/li>\n\n\n\n<li>And real estate investments (methods such as flipping, rentals, BRRRR)<\/li>\n<\/ul>\n\n\n\n<h3 id=\"2-join-rei-communities-local-and-online\" class=\"wp-block-heading\">2. Join Rei Communities (Local and Online)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Real estate investing has always been about networking and connections.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whether it&rsquo;s:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Finding sellers who are interested in selling you their home<\/li>\n\n\n\n<li>Buyers who want to JV with you<\/li>\n\n\n\n<li>A great title company that has your back<\/li>\n\n\n\n<li>Or someone else&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>&hellip; this business is <em>built<\/em> on great relationships<\/strong>. Build great relationships now, and cash in on the benefits of these connections later. A broad network makes investing in real estate that much easier. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nowadays, you have the advantage of joining Facebook, Discord, and other social groups online that have made it incredibly easy to build these relationships both more quickly and easily.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Do a quick Facebook search for smaller local groups in your area, and you&rsquo;ll likely find several, not to mention general online groups with larger communities:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh6.googleusercontent.com\/XqHrAv2uJwA2-cUcWm_c4CyOFN3tf8Heya0khCvmPafDoPQdovx_sr1-Exbxf5i7CwpgtbGrKeFrKqNiT61F__vdPL47TAMjXKppv55nJE_wU0oMqNORutQVLpjkqfHiuMbnB62lbkHuEwvpqH7fKdI\" ><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">If you&rsquo;re new to real estate investing, you&rsquo;ll likely overlook this step&ndash; <em>don&rsquo;t<\/em>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It&rsquo;s vital that you start building strong industry connections now, as they&rsquo;ll help make everything easier.<\/p>\n\n\n\n<h3 id=\"3-find-a-source-of-funding\" class=\"wp-block-heading\">3. Find a Source of Funding<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In real estate, nothing moves without money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traditionally, you&rsquo;d need to get approved by a bank for a loan to put a down payment on a property.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That&rsquo;s still a common way of obtaining funding for a property investment. However, you can also:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Start slow and save<\/strong> <strong>up<\/strong> your own capital for your first rental properties.<\/li>\n\n\n\n<li><strong>Use creative financing<\/strong> to obtain property for a lower initial investment.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Another great way to get started is to use what we suggested in #2 to <strong>link up with local investors<\/strong> who are looking to throw their investment capital into something worthwhile.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you engage in online and local communities, you&rsquo;ll find lots of real estate investors who have tens or even several hundred thousand in capital that they&rsquo;ve allotted to invest in real estate. They&rsquo;re just looking for the right deal.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You could even partner with one of these investors by proving that you know how to find and close deals (creating a partnership where you do the work while they provide the cash), something you could learn by starting via wholesaling (more on that later).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Either way, you&rsquo;ll need to know how much you&rsquo;ll need to start in your chosen investment property as well as how you&rsquo;re going to acquire that capital.<\/p>\n\n\n\n<h3 id=\"4-build-a-team-you-can-lean-on\" class=\"wp-block-heading\">4. Build a Team You Can Lean On<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You&rsquo;re not out to just build a portfolio but a real estate empire, right?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To do that, you need to build a <em>team<\/em>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some of those may be employees you hire, but others will be professional relationships with experts who help you manage your real estate business (such as a good title company).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>For example, over time, you&rsquo;ll want to have:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Virtual assistant(s) (cold calling, lead management)<\/li>\n\n\n\n<li>Closers (for follow-up calls)<\/li>\n\n\n\n<li>Disposition manager (in charge of finding buyers)<\/li>\n\n\n\n<li>Funding source(s) (bank, partner, or local investors you meet online)<\/li>\n\n\n\n<li>Local real estate agents<\/li>\n\n\n\n<li>Title company<\/li>\n\n\n\n<li>Contractors<\/li>\n\n\n\n<li>Attorney<\/li>\n<\/ul>\n\n\n\n<html><body><div id=\"2_in_post\">\n    <a href=\"https:\/\/www.neighbor.com\/host\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'second in post', version: '2.0'}, () =&gt; { console.log('track call'); });\">\r\n  <div class=\"second-in-post-cta\">\r\n    <section>\r\n      <div class=\"service-option\">\r\n        <h2 id=\"earn-1000s-per-year-with-your-unused-space\">Earn $1,000s per year with your unused space<\/h2>\r\n        <button>Become a Neighbor host<\/button>\r\n      <\/div>\r\n    <\/section>\r\n  <\/div>\r\n<\/a>\n  <\/div><\/body><\/html><h3 id=\"5-close-your-first-deal-and-obtain-your-first-property\" class=\"wp-block-heading\">5. Close your first deal and obtain your first property<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Nothing teaches like <strong>first-hand experience<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To build out your portfolio, you&rsquo;ll need to first learn what it&rsquo;s like to purchase and manage your own property.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It doesn&rsquo;t matter if this is a fix-and-flip or a rental property that you plan to hold onto long-term. The idea is to go through the entire process yourself to get the hang of things, learn lessons, and optimize your process.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>For example<\/strong>: if you&rsquo;ve never owned a fix-and-flip, you won&rsquo;t fully understand how long it can&ndash; and should&ndash; take to fix up your average property. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">How can you know if your contractors are taking too long and if they&rsquo;re doing a good job? What other issues might you run into, such as a surprise plumbing job you didn&rsquo;t catch in the initial inspection?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hands-on experience is a great way for you to score more deals faster and really start building your portfolio on overdrive. If you bypass this step and go straight to partnering with local investors, you&rsquo;re going to make those same mistakes on <em>their<\/em> dollar. So, the chances that they&rsquo;ll work with you on another deal after that one is slim.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Getting your first deal under your belt will be valuable to local cash investors who are looking for fix-and-flippers or rental experts to partner on deals with.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Once you&rsquo;ve done that, you can begin to really crank up your operation, as you&rsquo;ll have a win under your belt that shows local investors that you know what you&rsquo;re doing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That will then allow you to get funding more easily and close more deals quickly.&nbsp;<\/p>\n\n\n\n<h3 id=\"6-build-out-your-platform-and-position-yourself-online\" class=\"wp-block-heading\">6. Build out your platform and position yourself online<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">To really crank out more deals in a way that begins to approach a more passive income, you need to position yourself online as a local investor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It might seem tedious, but even a post or two a week long-term to platforms such as Instagram and Facebook can go a long way toward attracting local investors and wholesalers who will bring you deals.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh5.googleusercontent.com\/O3B_nLJk9hQhQHfHeV1_ACb8DbZ_lkgQpK-VlHKgV0HFtacVWm8pZufJy8gIaq5dPevXMyQx3c43p-PpwR3LodGLrlH_VLy6g0mm-_BwSsZzoWz9imxkNIDV-hjQaRvSbCzsiYwrb14Ey6LaZqE26aQ\" ><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">If you&rsquo;re truly looking to build a real estate empire, consider creating content once you have a few properties under your belt. Or start now by documenting your journey to becoming an investor.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The more you put yourself out there, over time, you can build up a steady flow of deals that come straight to you. That not only saves you money on lead generation but saves you time calling and following up as well.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Want to dive deeper? Check out <a href=\"https:\/\/www.amazon.com\/How-Build-Real-Estate-Empire\/dp\/0977073300\/ref=sr_1_1?keywords=how+to+build+a+real+estate+empire&amp;qid=1692643494&amp;s=books&amp;sprefix=how+to+build+a+real+estate%2Cstripbooks%2C203&amp;sr=1-1\" target=\"_blank\"><em>How to Build a Real Estate Empire<\/em><\/a>, a book that offers a concise breakdown of real estate strategies you can use to get started.&nbsp;<\/p>\n\n\n\n<h2 id=\"how-to-get-started-in-real-estate-with-no-money\" class=\"wp-block-heading\">How to get started in real estate with no money<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If you&rsquo;ve gotten this far, you&rsquo;re seriously considering real estate as the vehicle for your financial freedom.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, one nagging thought may have been holding you back:&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>I don&rsquo;t have any money to invest in real estate right now.&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If that&rsquo;s the case, you&rsquo;ll be happy to hear that there is more than one way to get yourself started with essentially little to no starting capital.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are two ways to start building your real estate portfolio with little to no money:<\/p>\n\n\n\n<h3 id=\"learn-wholesaling\" class=\"wp-block-heading\">Learn wholesaling<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Wholesaling is the perfect combo if you&rsquo;re starting out but don&rsquo;t have the capital to invest right away.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wholesaling is <strong>when someone finds a seller, links them up with a buyer who wants that property, and makes a commission on the sale<\/strong>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wholesalers are a huge source of property leads for investors and likely something you&rsquo;ll take advantage of at some point.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why is this a good place to start when you don&rsquo;t have starting capital?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a wholesaler, when it comes to generating leads and talking with sellers, you&rsquo;ll be doing <em>exactly<\/em> what investors do.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You&rsquo;ll learn not only how investors find sellers but also how to communicate with them and close deals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Wholesale commissions typically range from $10,000 &ndash; 20,000<\/strong>, making it the perfect vehicle for generating investment capital while you learn.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Plus, if you invest in a VA and build a solid buyer&rsquo;s list you can make it an almost <a href=\"https:\/\/www.neighbor.com\/storage-blog\/passive-income-streams\/\">passive income<\/a> stream that requires very little maintenance.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can start out by using wholesaling as a <a href=\"https:\/\/www.neighbor.com\/storage-blog\/side-hustle-no-hassle\/\">side hustle<\/a> while keeping your 9-5. This way, you can learn the business as you build toward your first deals and start accumulating enough capital to begin investing.<\/p>\n\n\n\n<h3 id=\"use-creative-financing\" class=\"wp-block-heading\">Use creative financing<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Popularized recently through real estate investing gurus such as <a href=\"https:\/\/www.pacemorby.com\/\" target=\"_blank\">Pace Morby<\/a>, creative financing is an umbrella term that refers to any method of obtaining real estate other than traditional bank financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Typically, that refers to one of two methods. Both involve paying periodic (i.e. monthly) payments to the owner as though they were the bank:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Seller finance<\/strong>: Used on properties that are 100% paid off.<\/li>\n\n\n\n<li><strong>Sub-to<\/strong>: Used on properties that have a loan balance that needs to be paid off.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Investors can easily set up servicing companies that handle all payment management so that you and your seller have nothing to worry about.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why is this a great way of getting started with little or no capital?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With creative financing, you don&rsquo;t need to be approved for a loan to cover a down payment. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on the deal, you may need to offer a small bit of capital up front as a down payment. However, that&rsquo;s typically <strong>not more than a few hundred or a thousand dollars<\/strong> depending on the terms of the deal.&nbsp;<\/p>\n\n\n\n<h2 id=\"get-started-in-real-estate-investing\" class=\"wp-block-heading\">Get started in real estate investing<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Becoming a real estate investor doesn&rsquo;t have to be difficult. It just takes a little know-how.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In fact, there are countless ways to make money with real estate.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can even monetize land you purchase by using it to start a micro-storage business using peer-to-peer storage marketplaces like Neighbor.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With a tool like Neighbor, you can link up with local renters in need of convenient and <a href=\"https:\/\/www.neighbor.com\/business\/fleet-parking\">affordable storage for their vehicles<\/a> or personal belongings.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">No matter what path you decide to take to begin building your real estate empire, we hope this guide helped you get started right.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"Building an &ldquo;empire&rdquo; might sound a bit over the top, but the fact of the matter is that&hellip;\n","protected":false},"author":43,"featured_media":10581,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[204],"tags":[],"class_list":["post-10398","post","type-post","status-publish","format-standard","has-post-thumbnail","category-real-estate-investing","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Build a Real Estate Empire That Can Set You Up for Life - Neighbor Blog<\/title>\n<meta name=\"description\" content=\"Real estate is the most tried-and-true wealth-building method there is. The best part? Becoming a real estate investor is easier than ever.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.neighbor.com\/storage-blog\/how-to-build-a-real-estate-empire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Build a Real Estate Empire That Can Set You Up for Life - Neighbor Blog\" \/>\n<meta property=\"og:description\" content=\"Real estate is the most tried-and-true wealth-building method there is. The best part? 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