Property investors rode a wild wave during the pandemic, with the short-term rental market stopping, then restarting, and property prices in many second-home markets soaring. What does the future hold for new second-homeowners and for managers of more robust property portfolios? We’ll explore that and more, all May long, at Inman.

From bringing in a steady cash flow to securing tax benefits, investing in real estate can have a slew of benefits. Not to mention, it’s also a great way to build wealth over time. But how can newbies get started in the business? What are some first steps to take?

This week, Micah Curtis, regional director at Home Loans Assist, sat down with Rick Guerrero, director of branch sales and strategic partnerships with US Mortgage Corp to talk about real estate investing basics.

Guerrero, who cut his teeth in the business close to three years ago, now owns four properties. Tune in as he shares how he got his start, what he learned along the way and what advice he would give to new investors. Here are a few key tips:

  • Get with a Realtor who really understands this market segment and this business.
  • However, even some of the best Realtors can make a few small critical mistakes. The best way for you to know how to do it is to just buy some and experience it.
  • “What I do is, I try to buy properties where I can achieve the 1 percent rule,” he said. “What does that mean? That means if I buy a property for $150,000, I’m going to make $1,500 a month in rent.”
  • When searching for good rental property, a few important factors to look for are: being in a good school district, being in an area where there’s active business, being near a freeway or close to easy transportation.
  • Leverage real estate investor networks in your local area. Have mentors you can reach out to for advice and help.

Rick Guerrero is the Director of Branch Sales and Strategic Partnerships at US Mortgage Corp. You can follow him on Facebook or connect with him on LinkedIn.

agent advice
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription