Sam Zherka is passionate about developing value and seizing opportunities in real estate. With his strong work ethic and determination, Sammy Zherka has managed to make a name for himself as a successful real estate investor, developer, and consultant.
As one of the oldest asset classes, real estate has historically proven to be the greatest wealth builder. In fact, many of the wealthiest individuals in the entire world made their fortunes through real estate. Sam Zherka shares he was fortunate enough to get into real estate at a young age. He closed his first deal when he was 17 and the rest, as they say, is history. He would now like to take this opportunity to guide young entrepreneurs and investors with the following insights:
1. It helps to know people in a trade – Sammy Zherka strongly urges real estate investors to build relationships with people in a trade, like plumbing, HVAC, etc. This is because these people are who will help you add value to the properties you buy. If you want to get into flipping especially, a huge chunk of your profit will come from how affordable these trades are provided to you and the property. Sam Zherka also urges real estate investors to soak up as much knowledge as they can about trades.
2. Expenses easily add up – It may seem easy to do the math, but what budding real estate investors tend to forget is that vacancies have their opportunity costs. Not to mention income tax and real estate tax, as well as maintenance and major repairs. All these expenses affect the bottom line, skewing how attractive a property appears. This is why Sam Zherka advises to write everything down when formulating a plan, so as not to leave any stone unturned.
3. Driving for dollars rarely works – In real estate, driving for dollars means driving around neighborhoods and surveying the area for potential houses and deals. Sammy Zherka believes the time of real estate investors is better off doing other things, such as sending local direct mail campaigns. While driving for dollars works, often, there are too many time-consuming obstacles. For instance, the owner of the property may not be around the premises, or they aren’t interested in selling their property. This is how a direct mail campaign can filter out sellers, as they will be the one to contact you, not the other way around.
Stay tuned to this page to read more from Sam Zherka.