Cody Sperber’s Top Real Estate Tips
If you are looking for a role model in the real estate investment market, then you should get to know a little bit about Cody Sperber. Here are some of Cody Sperber's top real estate tips.
Cody is undoubtedly one of the most successful real estate investors around, and thankfully he is willing to share his tips and tricks for making it big in real estate. There is more than just dumb luck when it comes to being successful in real estate. Cody Sperber has offered up his top tips to help you achieve even a fraction of his success. So, who is Cody Sperber and what are his top real estate tips?
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Who is Cody Sperber and what is he known for?
The best way to find out about Cody is through his own website where he explains that he is a successful real estate investor and educator. He started out like a lot of people – with nothing. And through clever investment strategies has built himself up to the success he is now. He is worth a reported $200 million and has been successful in all sorts of real estate transactions. Cody Sperber loves to teach others the secrets to his success and has created a 30 day real estate challenge where you can learn the basics of real estate investing and get one-on-one training.
Cody has a lot of knowledge he wants to share, and he has also written a number of bestselling books on real estate. He also contributes towards the Clever Investor website, filled with useful information. Cody Sperber clearly knows what he is talking about, so here are three of his top tips for getting into real estate.
Tip 1. Learn as much as you can before you start
Real estate investing is not something that you can pick up in a day, and if you are wanting to be as successful as Cody Sperber, then you will want to start out in a similar way than he did. On the Jan Cavelle website, Cody talks about how he spent months flying around the country attending all the seminars he could in order to learn as much as he could about real estate. He knew that in order to become the best he had to learn from the best. After attending a few seminars, he was able to make his first real estate deal which brought him a profit of over $40,000.
So, if you are just starting out, then the best thing you can do before you get started and start investing your money is to learn as much as possible. While you do not have to attend seminars like Cody, there are other ways to educate yourself. Read books and articles written by experts, attend workshops, listen to podcasts. It does not matter how you learn, as long as you build your knowledge with as much accurate and relevant information as possible.
Tip 2. Decide whether you want to be a passive or active investor
Cody Sperber recommends picking one or the other and becoming an expert in that particular type of investment. Cody personally prefers active investing, and this is how he has found his fortune. However, he does mention that you can find a lot of success in passive investing if this is what you feel more comfortable doing.
Active investing is what most people think of when talking about real estate investing – purchasing a property and flipping it or renting it out. You are actively involved in the investment and the property is under your name. Passive investing is a more hands-off approach and is when an investor places money in a real estate syndication or a trust. So, the sponsor or trust manager is managing the investment and the investor is simply providing capital. One is not necessarily better than the other and both have the potential for high returns and overall success. The most important part of this step is deciding what is best for you and sticking with it.
Tip 3. Flipping houses is a huge moneymaker
Flipping houses is something that is very close to Cody Sperber’s heart. He has personally flipped over 1000 houses in the 14 years he has been active in real estate, and the reason why he keeps doing it is not that he loves the actual work involved with a house flip – rather it is a big moneymaker. If you want to make the big dollars in real estate in a short time frame, then flipping houses is the way to go. In fact, Cody has written a book entirely on flipping houses (with little or no money).
The basic premise with flipping houses is to purchase a residential property on the cheap that needs a lot of work. Then you either do the work yourself or pay someone to do it, so when you are finished it is an entirely new home. This of course makes the value skyrocket, and the idea is that you sell the property for a lot more than you paid for it. If you choose the right property in the right location, and are smart with your renovations, then you can make a lot of money this way. There are risks involved of course, but if these risks are mitigated and you know what you are doing, then you should not run into any major issues.
Cody Sperber has undeniably been highly successful in real estate and he is continuing to go from strength to strength. So, if you are wanting even a fraction of his success, then you should take note of his top 3 tips to make it in real estate. Following these steps will not guarantee you success, but they will help you a lot on the way to becoming a successful investor and be on your way to financial freedom. After all, this is why you are wanting to enter the real estate market in the first place!
Charles is the founder of infoSpike.com. He enjoys real estate investing, marketing, and personal finance. Read more about Charles here.