Gain real estate experience

You'll find that many real estate investment management firms employ or are started by Realtors. It is to your benefit to have a real estate background or have someone on staff who does. For instance, one of the designations that Realtors can gain is the Certified Commercial Investment Member (CCIM), which states that a person is knowledgeable about commercial and investment real estate.

I recommend: Learn more about getting started in real estate investing by taking investment, business and real estate courses. Find out about the CCIM course and apply to join the CCIM Institute.

Learn to network

Networking is by far the best way to get clients. Know the lenders and real estate professionals in your community. Join your local Chamber of Commerce and local Real Estate Association. Networking builds relationships that eventually include business when your start getting referrals.

I recommend: The National Association of REALTORS® provides numerous networking opportunities for a real estate investment company. Join discussion groups with other real estate investors and investment property firms at the Real Estate Investment Club.

Decide whether you want to operate a residential or commercial real estate investment firm

You can be a one-stop fits all kind of investment firm that offers both residential and commercial real estate opportunities or you can specialize in one type. Specializing helps you focus your marketing efforts.

I recommend: Join the National Association of Residential Real Estate Investment Advisors for networking and building your residential investment strategies. If you prefer investing in shopping centers and other commercial endeavors, contact a commercial and industry real estate association like the Society of Industrial and Office REALTOR®. 

Add property management to your offered services

One service that some real estate investment management firms offer is property management. As investors often invest in multi-family housing, this can be a good fit.

I recommend: Join the National Property Management Association for resource and networking information. Learn how Ragovin and Associates makes a success of multi-family investments.

Consider including foreclosure investment services in your firm

Another area that real estate investment firms can specialize in is foreclosure properties. Foreclosure investment firms are a good way for investors to get property at below market value.

I recommend: RealtyTrac can provide you with information about foreclosure investments and foreclosure laws by state. You’ll find many foreclosures online, although don’t forget local sources.