When it comes to real estate investing, it is often seen that investors choose to take the easy way out when they buy properties. They use leverage as the medium which is not only risky but downright unethical, to begin with. There is a myth among real estate investors that one needs to make the most out of leverage if they wish to make money in real estate but that is not the case. One can make profits in real estate with perseverance, patience and by using their own cash.

Over the years, the techniques of real estate investing have changed which means the practices that worked 15 years back won’t do you much good in the current market conditions. That being said let us look at some practices that would allow you to play it safe in the real estate sector.

Be sure that you have a strong network

Relationships with real estate and buyers agents one forms when they attend real estate events and networking meetings can help them in the future when they need to make an investment or let go of a property for a good deal. To be successful in the real estate sector one needs to form strong professional ties with the right people. It is never a good idea to give up easily since building relationships in the sector needs a lot of time and effort. It is not that easy as one might have seen on TV shows.

It is never a bad idea to keep a watchful eye on your expenses

It is an awesome habit when you are counting every single penny you are spending on your real estate transactions. It is extremely important to do so especially when you are spending your hard earned money on properties purchased for renting out to single families. A property that was once rented out when is further re-enlisted in the market t needs to be inspected, repaired and renovated as per the conditions of the same to make the most out of the property. Your calculative approach when it comes to spending money would come in handy here.

Keep your eyes on the stars with feet planted firmly on to the ground

You might have heard the above-mentioned line in a cheesy meme once or twice in online portals but it does find extensive meaning in the real estate sector. It is always best to have a clear idea about what you are getting into. When you know all the intricacies of a particular deal or a property, it becomes easier for you to tackle issues (if any) that might pop up in the future. On top of that, real estate investing is not ideal for you if you want to make money instantly. It is best to set humble expectations from the property you are pouring your money in. Bear this in mind that real estate investments are notoriously known as costly and time-intensive ventures.

Investing in real estate isn’t as complicated as one might think. When it comes to making decisions of investment, it is always a great idea to trust your guts, your experience with the market and analyzes the trends that are now prominent in the same. With this piece of advice and the ones mentioned above, you can play it safe in the real estate sector for years to come.

Thinking about touring the world or going sightseeing before settling into your 9 to 5 job? It’s usually the students who have the time to travel, however, the means necessary to do so may be an entirely different story. If you find yourself in this boat, why not check out some great finance tips to improve your financial status, allowing you to quench the wanderlust thirst you may have been feeling since high school.

Earn Extra Income

If you are in the process of planning a holiday, it means you have time to do so, but with the wait comes the opportunity to earn extra income, depending on what you are good at. If you can’t earn a little extra cash from a hobby, check out Novibet, the best online roulette site which could offer you massive cash prizes. Alternatively, you can check out other money making opportunities such as Bitcoin gaming, Forex trading, or freelancing.

Saving Cash

Whenever you earn extra income don’t blow it like there’s no tomorrow. Instead, opt to put your money aside into a holiday fund. Even though each year gets more difficult financially in terms of inflation, there are still some great ways in which you can save a little cash. Sacrificing means you are giving up one thing in order to get a better deal, and what’s better than travelling overseas.

Opening a Fixed Deposit Account

If you can’t trust yourself and don’t want to tuck into your holiday fund just yet, you can always consult with your bank to open a fixed deposit account. This sort of account won’t allow you to touch the funds until you handed in an official notice. The notice periods usually come with an option between 3 days, 2 weeks, 1 month and so forth, and ensures that by the time you have accessed your money, you will not have use of the cash and hopefully deposit it back into your holiday fund.

Living Light

Change your lifestyle to accommodate for saving money and live a little lighter or a little less extravagant. This may sound easier than it actually is, but once you become accustomed to living simpler, it becomes the norm and you will be able to save money.

As a travelling student you can rest assured that you’re not the only one who has to look at managing your finances. The majority of students who have travelled before have experienced this. So if they can do it, so can you!