Hola! Happy Thursday.

I know you may think that you need to know everything before you start investing in real estate but I am here to tell you that you don't.

You don't need to learn every single term or know every strategy out there.

No. You just need to learn a few beginner practical skills and some basics to get started. Everything else will come con tiempo.

Because real estate investing comes in etapas.. in phases.

• Beginner Phase: Learn the basics. Buy your first rental property
• Growth Phase: Learning how to manage properties and get better deals. Building networks. Buy your 2nd-4th property.
• Maximize Phase: Maximizing profits, scaling. Buying larger projects or joint ventures.

Beginner Phase

So let's talk about the beginner phase. Here is where you just start learning how real estate investing works. Remember it is okay to be a beginner!

Here is what you should work towards in this phase:

Pick an investment strategy

There are 3 beginner strategies to look into. Househacking, live in and fix, or turnkey rental.

⭐️ Remember the best rental strategy is not always the one with the highest return. It can be the one you actually execute and not lose sleep over it.

Understand the Numbers

You don't need to do a deep dive. Just understand how cash flow is calculated and why.

You need to know:

• how much rental income you can expect to get.
• Mortgage
• Property tax rates (because this goes up after purchase)
• expenses like Property Management & Insurance
• How much to set aside for maintenance and saving for large repairs like water heaters etc

Your cash flow is what is left over.

Cash flow= Rental Income - All Expenses

Finding Team Members

Real estate investing is not a solo sport. I know we are used to figuring it out on our own, but you need to learn to network. Finding a good investor real estate agent, lender and property manager is a good start. They can help you with the numbers and guide you.

and the last skill is

Emotional regulation

This is an underrated skill. Because real estate investing forces you to face your fears. And if you haven't addressed any financial anxiety, it will show up. I still have to deal with it. Even with my latest buy. It was something new to me. But I pushed through.

And it's not just fear. It may be that you grew attached to a home or you see a run down property and feel disgust. So then you don't see the potential and miss a good deal.

So yes all of these are skills you learn and develop in the beginner phase. These are important and it's why trying to jump into the second or third phase can set you up for failure.

So enjoy the beginner phase. It has a purpose.

Are you in the beginner phase? What is stopping you? Let me know by replying to this email!

Skills You Need as A New Real Estate Investor Tune In

5 Money Skills to Learn to Build Wealth Tune In

These are my favorite resources and tools. It is a great way to support while also helping your financial journey!

Favorite Money Tools💰

Invest with Fidelity. From IRAs to UTMAs for your child. Use my affiliate link.​

Landlord Resources

Use Baselane for Banking. Create separate buckets for income, repairs or more.

​RentRedi is a great tool for property management. List your property, send leases, collect rent and so much more!

Must-Read Money Books List 📚

​Money How-To and Tips Favorites​

​Real Estate Investing Favorites​

Hasta la Proxima,

Violeta Sandoval

Have some money or real estate investing questions? Submit them here and I may answer them on an upcoming episode on the MoneyChisme Podcast!

The information, products and recommendations contained in this email are the author's opinion only. Please consult a licensed professional before making any financial decisions. ​
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