What You Should Know Before Venturing into Real Estate

What You Should Know Before Venturing into Real Estate

Entrepreneurs and savvy investors are always on the lookout for a lucrative new business venture, and for years, many have found great success in the real estate sector. If you’re considering a foray into the world of real estate, take the following facets into consideration as you think about how to start this business.

It Can Be a Safer Bet than Stocks

While stocks can mean losing your entire investment in one single downturn of the economy, real estate investments generally fare better over time. As land is a limited resource, landowners will find their purchase appreciating gradually or exponentially (depending on location) over time. Even if the economy does slow down or take a turn for the worst, over the course of a lifetime, your real estate value will continue to appreciate.

It’s a Great Way to Diversify an Investment Portfolio

If you want to minimize risk in your investment options, it’s vital to work on ways to diversify your portfolio. This tends to be a driving factor behind entrepreneurial decisions to get involved in real estate.

Diversifying your portfolio makes you less susceptible to volatile markets and can better protect your assets. Should stocks plummet one day, you’ll have a solid and steady real estate investment to fall back on. Real estate investments can help you vary your assets and expand your diverse holdings.

The Startup and Maintenance Costs are Vast

It will be a long time before you see any sort of significant return on your real estate investment, so don’t expect immediate profit turnaround. You’ll need to come up with the down payment for the mortgage, have a steady flow of income to fall back on for repairs and maintenance, and be prepared to face vacancies that deplete your monthly real estate income on occasion.

Real Estate Success Requires Education

If you have no prior knowledge of the real estate sector, rethink your decision. It’s essential to have or foster an in-depth knowledge of the ins and outs of the industry to make your investment viably lucrative. Attend real estate seminars, read literature, and most importantly, speak with those who have gone before you; learn from their successes and failures alike.

There are Tax Benefits

When you make an investment in real estate, you might be investing in tax breaks. Depending on whether you’re classified as an active investor or a real estate professional, you’ll find a bevy of tax breaks, deductions, and tax-free income that could change your financial horizon.

It Takes Time to Find the Right Property

Once you’ve made a commitment to real estate investing, it’s understandable that you might be champing at the bit to make your first purchase and get started on the road to success, but rushing the process can come back to bite you.

Don’t fall prey to the first property you take a look at; take your time, and do thorough analyses of each and every property you take in. Once you have bevy of options, begin narrowing down through the criteria you’ve deemed essential.

While it’s important to take your time when purchasing your first property, there’s also plenty of reason to avoid prolonging the process. Waiting for the perfect dream home might see you 10 years down the road with no property to your name—and higher prices to contend with.

If You’re Planning on Renting Out Your Property

If you plan on renting out your real estate investment, it’s vital to do everything you can to safeguard your property.

Screen every tenant extensively with a detailed service like Transunion SmartMove, make sure you go through your lease provision by provision with a trusted and experienced legal counsel, and install security measures on the property itself.

It’s also important to access the right insurance that will cover you in case the unthinkable happens. Many landlords are also requiring their renters to provide proof of renter’s insurance like that from Progressive Insurance, as landlords can end up paying high deductibles on their own plans without it.

Bob Adams is a serial entrepreneur and founder of BusinessTown.com.


We make starting a business simple.

We make starting a business simple.

Our courses will show you exactly how to start and run a business

Our courses will show you exactly how to start and run a business

Learn everything you need to know to plan, start and grow a business

We’ll show you what to do right from the very beginning. You’ll learn how to find your idea, write your business plan, attract customers and all the other steps to building a successful business.

Our courses are taught by real entrepreneurs

You will learn from BusinessTown’s highly experienced experts and entrepreneurs. They will share their experience, wisdom and skills with you. And they will guide you through every aspect of planning, starting, and growing your business. 

Start a business you love, earn more money and live the life you want

Our easy-to-follow video courses will quickly teach you how to start and run a business. Our courses can turn your dreams into reality even if you don’t have a business idea or don’t know where to start.

You’ll find a course that’s perfect for you

Get unlimited access to 130+ courses. We cover it all…from finding your idea and creating your plan to making sales and building a successful business. No matter where you are in your business journey, there is a course just for you.

Learn at your own pace and on any device

Take all the courses you want. Anytime. Anywhere. Any device. Watch one video lesson a day (average 7 minutes) or binge watch the whole thing. It’s up to you!

Explore our top 3 courses and start learning now

OUR #1 MOST POPULAR COURSE

Start-a-Business 101

This course will teach you all the basics of starting a business. You will be guided step by step through the entire process of starting a business and becoming an entrepreneur.

FEATURED COURSE

How to Find a Business Idea

Learn how to find a great business idea with this course. Discover how to generate awesome business ideas, how to evaluate and validate them and how to choose the very best one for you.

FEATURED COURSE

How to Create a Business Plan

Learn how to create an excellent business plan from scratch! This course will walk you through every step from start to finish. You will be guided by instructional videos, a sample plan and a fill-in-the-blanks business plan template.

Get unlimited access to all these popular courses

You’ll get all the tools you need to succeed

You’ll get all the tools you need to succeed

Fill-in-the-blank templates and 50+ other tools will show you exactly what to do at any given step. They will save you time, keep you organized and help you get your business up and running as rapidly as possible. 

Our most popular tools include:

  • 300 Best Business Ideas, 111 pages
  • Business Idea Evaluation Worksheet
  • Ultimate Startup Checklist, 18 pages
  • Business Plan Template, 29 pages
  • Sample Business Plan, 35 pages
  • Marketing Plan Under $2k, 12 pages
  • Financial Statement Templates

What they are saying

What they are saying

Watch the video tour and get ready to become your own boss

Play

BusinessTown founder Bob Adams’s courses and books have been featured in:

Learn how to start a business with our video courses

130+ courses

Unlimited access

50+ tools

Templates & more

Discussion board

Get expert answers

Frequently asked questions

BusinessTown is an e-learning platform built for people interested in starting and running a business. 

On BusinessTown, you get unlimited access to 130+ business courses taught by real successful entrepreneurs and highly skilled experts. You also gain access to 50+ business tools and to our discussion board, where you can get expert answers to your business questions.

No matter what you want to learn or where you are on your business journey, there is a course for you. 

Marketing, ideas, financing, planning, naming, how to get started… BusinessTown covers everything you need to start and run your business right. 

The courses are available anywhere, anytime, on any device, and you can take them at your own pace. 

Create your BusinessTown account to get started and try BusinessTown free for 7 days. 

BusinessTown includes unlimited access to 130+ business courses taught by real successful entrepreneurs and highly skilled experts.

You also get full access to 50+ downloadable tools like worksheets, templates, and samples, and to our discussion board where you can get an answer to any business question you have. 

BusinessTown is $19.95 per month. It provides unlimited access to all 130+ courses, all tools, and our discussion board, where you can get expert answers to your business questions.

We offer a free 7-day trial. If you decide that BusinessTown is not for you, then just cancel within 7 days of starting your free trial and you will not be charged at all.

If you wish to cancel your BusinessTown account, you can do so through your account page under the Billing section. 

If you have any questions, email us at bbisson@businesstown.com. We are more than happy to help!

BusinessTown includes 130+ courses on all business topics: Getting started, business ideas, business plans, strategy, marketing, websites, social media, online advertising, finance, accounting, leadership, sales, legal issues, home-based businesses and more!

Looking for a business idea? Why don’t you check out our course How to Find a Business Idea. 

Do you need help creating your business plan? We’ve got you covered. Take a look at our course How to Create a Business Plan.

Do you want to be walked step by step through the entire process of starting a business? Check out our ultimate course, Start-a-Business 101. 

Are you not sure that you are ready to start your own business? Consider our course, What It Takes to Start a Business.

Are you looking for financing for a new or existing business? We offer 5 courses on financing a small business. We suggest you start with the course, How to Finance Your Business.

Do you want to learn about marketing? Because it’s so important, we offer over 30 courses on sales and marketing. Consider starting with the short course, Developing Your Marketing Message.

Want to learn about marketing online? We offer 5 courses on creating websites, 6 courses on digital marketing and 5 courses on promoting through social media. To get started we recommend the course, The Complete Guide to Digital Marketing.

Looking to get inspired and learn how other entrepreneurs succeeded in starting and growing their businesses? We offer several courses on this including, How to Succeed as a Woman Entrepreneur.

Do you already have a business and are looking to improve it? We have several courses on this topic. Try starting with the course, How to Boost Profits.

No matter where you are on your business journey, there is a course for you.   

On BusinessTown you have access to 50+ downloadable tools like worksheets, samples, and templates to help you start and run a business. 

Our most popular tools include:

The Ultimate Startup Checklist, 18 pages 

The 300 Best Small Business Ideas ebook, 105 pages 

The Complete Business Plan Template, 29 pages

Complete Sample Business Plan, 35 pages 

Sample Marketing Plan Under $2k, 12 pages

One Page Marketing Plan Template

One Page Sample Marketing Plan

50 Guerilla Marketing Tactics Worksheet, 8 pages

Business Idea Evaluation Worksheet 

8 Basic Steps to Making the Sale Template

Sales Presentations that Your Customers Will Love Template

Sales Presentation Sample Dialog

50 Ways to Generate Endless Sales Leads Worksheet 

Cold Calling Script Template and Sample

Emails that Land Sales Template and Sample

Voicemails that Get Callbacks Template and Sample

Income Statement Templates and Samples

Balance Sheet Templates and Samples

Cash Flow Templates and Samples

Calculate Depreciation Template

Key Financial Ratios Sample

How I Started a Successful Business with No Money and No Experience, Case Study

Key Questions to Select the Best Business Idea Worksheet

Validate Your Business Idea Worksheet

Using the 6-Step Approach to Choose a Business Idea Case Study

21 Easy-to-Start Part-Time Business Ideas Guide

42 Home-Based Businesses You Can Start Guide

Why I Repeatedly Changed the Legal Entity of My Business, Case Study

Evaluate Customer Segments and Competitors Worksheet

Differentiate Your Business from Competitors Worksheet

How I Differentiated My First Business in a Crowded Marketplace, Case Study

Creating a Press Release Template and Sample

Marketing Bob’s Rent-A-Bike, Case Study

Planning, Designing and Creating Your Website Worksheet

Search Engine Optimization Worksheet

50 Blog Post Ideas Worksheet

50 Creative Online Marketing Ideas Worksheet

Evaluate Potential Names for Your Business Worksheet

How I Financed Buying a Business Case Study

Cover Letter to Seek Financing Sample

Collection Letter Samples

The Four Quadrant Theory of Time Management Graphic

BusinessTown courses will show you how to start your business right and grow it into a highly successful enterprise. 

You will learn from highly experienced entrepreneurs and experts who have been there and done it. You won’t have to learn by trial and error. You won’t have to guess what to do next. BusinessTown courses will guide you through your entire business journey.

Even if you are a beginner you will quickly learn how to start a business you love. If you already have a business, BusinessTown will show how to grow it and make it better.

By just watching one video lesson a day (about 7 minutes average) you can quickly ramp up your business knowledge. No matter where you are on your business journey, there is a course for you taught by an expert on BusinessTown.

What would you like to learn more about today? Starting a business? How to find a business idea? How to write a business plan? How to do your marketing? How to build an online presence? How to get financing? How to prepare financial statements? BusinessTown has courses that cover all these topics and hundreds more.

So if you want to become a smarter entrepreneur and start and build a successful business, you’ll want to start streaming the courses on BusinessTown today.

Copyright © 2021 BusinessTown LLC. All rights reserved. BusinessTown ® is a registered trademark of BusinessTown LLC.

QUIZ: WHAT BUSINESS IS BEST FOR YOU?

QUIZ: WHAT BUSINESS IS BEST FOR YOU?