Too many real estate investors do not achieve their dreams because they cannot start their investment careers correctly or because they come to a crossroads and do not know which direction to go. Confused about the next step to take, they spin their wheels, do nothing, and end up choosing to walk away from real estate entirely and return to a life of mediocrity. To prevent this from happening to you, follow this simple seven-step roadmap to success.
Step 1: Education
A good education is essential to your success. Before you begin, you should begin to familiarize yourself with various creative techniques. You don’t want to spend as much time preparing to invest as you have ever started your investment career, but you also don’t want to go half-armed and shoot anything that moves. Learn enough to write a smart offer, then make it happen. As your career progresses, keep learning as you go. There is a lot of investment knowledge accumulated, so take advantage of it. Also note that education does not have to be a $ 2,000 to $ 3,000 super course sponsored by a guru. Sometimes you can learn more than a $ 20 book, but never stop learning or you will stop growing.
Step 2: Planning
What steps are you taking to achieve your goals? Are you sitting with a pad of paper and a pen to plan how you are going to spend your real estate earnings, or are you taking a series of deliberate steps to ensure success? How many calls will you make today, this week or this month? How many properties are you going to look at? How many offers will you write? Real estate is a numbers game, so you need to plan your numbers and then keep analyzing your activity. If you don’t keep a score, you won’t know if you win or lose. It all starts with a plan and ends at the winner’s circle or at the employment office. Planning, or not planning, will determine where you will be in a year and how much money you will have.
Step 3: Team Building:
MLB teams don’t wait until the season begins to start looking for members of their team. Their teamwork effort begins months before the opening date. As a real estate investor, you need a team of professionals in your area. Get started today with a small trust or securities company and a mortgage company. Make sure they understand creative real estate and are experienced. If you don’t work with a mentor familiar with creative investing, you need to find one. He or she can cut years off your learning curve by helping you avoid some of the stupid and costly mistakes they have made.
Step 4: Circle of influence
who are you listening to? Your brother whose idea of investing in creative real estate is buying part of the time in Arkansas? If your circle of influence, the people who advise you, do not know and understand real estate investment, they will constantly focus their hopes and dreams because they do not understand the concept or because they do not want its success to highlight its mediocrity. Get in touch with as many creative and successful real estate investors as possible at your local REIA meetings.
Step 5: Good Sellers
Wasting time trying to get someone to accept your creative offer is unproductive and demoralizing. Make sure the sellers you are dealing with are highly motivated to sell and that good things are happening. Don’t be afraid to deviate from the wrong offer, even if the price is right. Know your ideal situation, then capitalize on it when the opportunity arises.
Step 6: Hobby / Business?
Will real estate investing be your path to prosperity? While there are plenty of opportunities for fun, never forget that you are playing in a very competitive sandbox. However, you have something for yourself. Many investors lack the education, training, and mindset to prosper. If you are one of them, you should save your money and go collect stamps or join the rock club. However, if you are serious about success and give this business the effort it deserves, your future is a blank check, and you are holding the pen.
Step 7: Respect It
Successful real estate investing won’t necessarily happen overnight. This does not mean that it will not become an overnight sensation, but be prepared for the possibility that it will take you 3 to 5 years to reach a level of success that encourages you to dedicate all your time and energy. Getting Rich Investing in real estate is easy, but it’s not simple. It takes work, effort, and the will to keep moving, even when your big salary is years away, rather than days.
By following this seven-step action plan, you can aim to achieve all of your personal and financial dreams. Real estate investing is one of the most lucrative careers in the world, but you will have to focus on your success. How much do you want it?
Now go get it!
Sean Flanagan went from bankruptcy to death, living off Ramen noodles and selling used popsicles on the road for $ 20 a day, to a self-taught billionaire in less than 2 years. Now she shares her secrets with thousands of students across the country.