You don’t need a million dollars to get into real estate investing or to begin making a living in this field. In fact, it is real estate that could lead you to getting the million dollars and yes you can start on a shoe-string budget.
If you want to work your way into a residual or passive income from real estate, then following a few specific rules can help you make your investment into your fortune.
If you are thinking of starting in real estate investing, you can start by finding one property that only needs a little fixing and can be used for other purposes. There are many foreclosures which can be a great place to look for these kinds of property profiles there are also programs such as rent to own that can bring opportunities. These suggestions can give you the ability to make a small investment which yields a a large profit.
No matter what type of investment you make, it is only a matter of time before you begin to profit from that investment. Any source will tell you that real estate is a great way to naturally build wealth over time. Because the economy and market continues to change and increase, real estate will also continue to increase. No matter what type of real estate investment you make, you can expect to begin profiting from an income that won’t make you work anywhere else. Almost a “set-it and forget-it” environment.
When you begin your income, you can begin making a residual or passive income. This allows you to make money simply by owning property in a variety of places without having to do the work that is involved with the property. Things such as rental properties can help you to put money in your pocket without you making an effort to go to work.
If you want a change in pace in your career, then you can begin by investing in a place and beginning to build income off of it. Real estate investment is a great way to begin putting income in your bank without having to work long hours and labor at a job that doesn’t offer as many benefits as the real estate business.
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While you see businesses come to life, peak and fall, you may be thinking if a business of real estate is worth investing in. What if the same thing happens to an investment business. You wouldn’t want to invest in something that won’t be substantial. Unlike other businesses, real estate is always a good investment to make, and may be the only real mainstay in a healthy financial portfolio.
Even though the real estate market rises and falls, there are still MANY benefits to being in real estate. Here are the TOP 4.
1. You can expect that if something happens that causes a property to lower in it’s value; it will eventually come back up.
2. There is always going to be a need for housing and people are always moving into different locations.
3. No matter what type of real estate you are investing in, you can expect that someone will have the need to live on the property; this applies to commercial and residential.
4. Because real estate is part of the basic needs of individuals, it can be expected that someone will always be looking, and there will always be selling.
One of the advantages of real estate that gives it more stability is that no matter what the economy, there will always be real estate selling. It can be expected that if the market is bad, individuals will be working towards selling their homes to move somewhere more substantial. If the economy is good, then individuals will be looking into buying homes that can offer more. This helps to keep real estate as one of the most stable markets among any business model out there out.
If you aren’t certain about investing in real estate, you don’t need to look any further than the economy and how the fluctuation is always to the advantage of those owning property. No matter what the circumstances, individuals are always looking for a place to live. If you want to make sure that you are part of the trends in the market place, then investing in real estate is a certain way to keep stable income.
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Why is the business relating to real estate so popular? Before you had the buying and selling of properties. Now, with the widespread use of the Internet, we have real estate trading which is basically “I buy yours you buy mine” kind of arrangement.
The term real estate is used to refer to any property, which is permanently attached to land such as buildings and houses. Most people refer to it as real property but there are situations wherein the term real estate is used for the land and the building together while real property refers to the ownership rights of the land itself. On the other hand, the word real is used to categorize these properties as “things” as opposed to “people”.
Records show that the idea of real estate; can be traced as far back as 1666. With the idea of personal property becoming more widespread, real estate has become a major area of business in the United States. In fact, economists claim that economic slumps are directly related when there is lower revenue generated by this industry. In order for the USA to get back on track and stay there; Americans need to view land and buildings as an investment.
There are many types of real estate: residential, commercial or industrial property. The most common transactions involve the buying and selling of residential properties such as apartments, condominiums and multi-family homes. Sometimes families who want to move to a different state finds it difficult to find dwellings on their own so they usually do a map search of the area they’re moving to so as to find any houses which are either for sale or for rent. This way, they get to pick the properties they want without having to travel yet, thereby saving time, effort and money. In some cases, people contact a real estate agent who can then give them a tour of the area so that they get to see the houses and to possibly bargain for the price of the property.
In US and Canada, finding property is easy because of the existence of the multiple listing system or MLS – a data base where real estate brokers can share information about the properties their clients are planning to sell, or in some cases, planning to buy. Most people who want to buy a house usually have no idea where to start so they call a real estate agent. When you do so, the agent searches the MLS to find details about the property. At present, there are about 700 different MLS in the US with new competitors like Hubzu.
But now there is a new way to get into the game. Wholesaling and a lot of retail buyers are turning to wholesalers and house-flippers to buy their dream homes. As an investor you must keep your eyes open for these opportunities because it is an exit strategy in real estate investing with the highest amount of return; as it relates to single family residential properties. The tip here.. Buy low, rehab well (quality and not quantity) and sell retail for more bang to the buck!
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You have probably heard it before, investing in real-estate is among the best investments you could make. Usually, the value of real estate properties increases. It may sound easy, but beginners would usually find out that it is not that easy. It would require knowledge which could be achieved through research, planning and hard work. There are common mistakes in real-estate investing which could lead to serious pitfalls.
Before you buy any kind of investment, you would have to be familiar with the laws covering the property. Different states would usually have different laws covering property acquisition. There are legal procedures that you would have to undergo or complete to fully claim your right to the property.
Your investment could also provide passive income which would require you to look into houses or properties that could house a number of families. We generally call them Multi-Family Unit Properties; however they can be Single Family Properties converted to Multi-Family Units. These houses could be rented out. This kind of investment may have drawbacks since the property may end up with a bad tenant or without any tenant at all. If directly managing the homes or rental units is not your cup of tea, then you could try getting a real estate investment group or bring on a JV Partner that has the network to help you get tenants and manage the property. They would be building or managing the property for you in exchange of a percentage of tenants’ monthly payments. A WIN-WIN!!
If it is your first time to venture in real-estate investing, then you would have to be aware of common beginner’s mistakes. One common mistake is speculation. Beginners would usually follow the media, buy a property and wait for its value to increase. This could be risky. As mentioned earlier, real-estate investing requires research. Aside from that, you would also have to be prepared for the worst. If nobody buys the property, then you would have to think of other methods on how you could generate income from it. You could lease it, rent it and think about other exit strategies.
Another common mistake is developing emotions for your first investment. Emotions may cause problems when making business decisions like qualified prospective buyers being cut-off even though they are offering the best deal. Before you start looking for properties, make sure that you have developed some king of real estate team and they are ready.
Most people think that they could start investing on their own, big mistake. A good real-estate investment team and mentor would surely help you move quickly towards your goal. Who do you need in your team? You would need a mentor, real-estate agent, funding partner or loan office, tax adviser, contractor and even a lawyer.
When property hunting, keep two things in mind: location and value.
I am going to be repetitive here LOCATION and VALUE. There are newly-developing places where real-estate could provide you with greater financial returns in the future. Usually, you would find a great property in a great location, it may need some updating; but it could be addressed inexpensively. You may also want to think twice about buying a good property or residential house when it is located in areas with high foreclosures rates. Also, think about buying a property close to your home. This way you could focus and check on the property without being hassled with travelling for hours each week.
Real-estate investing would not make you a rich overnight. It would require you hard work and good marketing strategies. You would have to be mentally, emotionally and psychologically prepared for it. But when strummed in the right strings, it could definitely provide you financial stability. So think of each property has being one step closer to a nice retire package with residual income. “Better than what the bank will pay you, this I guarantee!”
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No matter what business you are in, overcoming skepticism is a very important thought that has to go into your marketing efforts. This is so important. And why should you learn on how to overcome skepticism? It’s very simple. If you don’t you won’t make sales and if you don’t make sales you don’t have a thriving business.
The 3 Things Needed For A Sale To Happen
People need three things before they will buy from you:
The first thing is they have to WANT what you offer.
They have to have the money, the disposable income to purchase what you are offering.
They have to believe you’ll deliver on your claims.
So if you came to me and said, “Look, Val, I know you really a nice little place that you can retreat to in the winter so you can get out of New York, when it’s cold and go somewhere nice. So I’m going to sell you this awesome piece of property down in Fort Lauderdale, Florida. Yeah, yeah, yeah. It’s great, and it’s only going to cost you $3,000.”
And I’m going to say, “Wait a second here. I’m skeptical. This sounds too good to be true. Can you show me that? Can you overcome my skepticism?” They’ll be like, “No, just trust me. Just trust me.” I’m not going to buy that because I don’t believe them.
So you have to make your claims are believable otherwise you won’t get a sale even if somebody wants what you offer and they have the money to purchase it. So that’s where most of the sales are lost is on that third thing — is they do not overcome skepticism. That’s why it’s so important that you learn this.
So what’s the easiest way to overcome skepticism?
1. Enter the Guarantee
By far the easiest way is with a strong guarantee. This is absolutely the best thing. I talk to clients, and man, if you use a guarantee in industries that don’t normally use guarantees, you just kill it. The best kind of guarantees are tied to specific results. So let me show you what I mean.
Example:
You just launched a product called 4-Minute Squeeze Page. There’s a couple good illustrations on how do an effective guarantee. I do this. This is how you can tie it together: “This package comes with a double your money back guarantee. If, in the next 56 days,” — a very specific number — “you can show me one squeeze page you created that took you longer than 4 minutes to create and it didn’t convert at 25 percent or better, just let me know and I’ll send you double your money back.”
So in this example you can make the guarantee bold. Tying it to a specific result is key here.
–If you can’t make it, if you can’t create a squeeze page in 4 minutes or less and have it convert at 25 percent, just show me in the next 56 days.–
So it’s tied to a specific result. We are not saying guaranteed your money back. Instead we are guaranteeing you’re going to have this amazing result or your money back. Make it part of the opening copy. The goal is to make it stand out with the double your money back guarantee.
All of these things are super important because it’s absolutely going to sell out, especially if you are in an industry that typically does do a money back guarantee.
So when you’re creating your guarantees, you should do the same thing. And I learned this from Gary Halbert. So what you’re going to want to do is find all the great ads that have the best guarantees you can find that tie them to specific results and really stand out. Then what you’re going to do is you’re going to, whenever you have to write copy, you just look at those as examples. And pretty soon you’ll be able to write it in your head like I do now.
2. Enter the Testimonials
The second thing that you can do to overcome skepticism is create testimonials, and these are in order. Be mindful of where you are using testimonials, limit places where people have already seen your testimonials in the past. I don’t use a lot of testimonials when I launch to my list because they’ve already been exposed to my testimonials in the past. But if you’re starting with a cold crowd, it’s always good to have them.
Sometimes if it’s going to delay you from getting it out there, just put it out there anyway and then get the testimonials later. Testimonials guarantee that you’re going to help you overcome skepticism. So the more, the better. So if you get too many, figure out another way to do it.
I also use multiple modalities to make my testimonials stand out as proof. In one of my sales letters I show 16 pages. All are testimonials. And the other thing about testimonials is you want to make them look like they’re real, too. That’s something that I forgot to put in here, but the “realer” the better. The more authentic, the better. The more relative to the product your launching is even better.
People can tell I did not make these up. It’d be very hard for me to make these testimonials up because they can tell they’re taken right from my social media pages, and I snap shot them into my marketing pieces. This looks a lot better than just writing them and reproducing them on the page.
So I did this again with my Internet Marketing product, where here I took the testimonials, and I snapped them from my inbox in my Gmail account. In this case — boom. It’s right off of my e-mail Gmail account; so they got it.
The second thing here is I put these headlines above them so people could actually see the products. So if you look at it — the more, the better; the more authentic the better; and it’s optimized for prospects that won’t read the sales page, they just skim it.. aka Skimmers. So even if you don’t read the testimonials, which a lot of people don’t do — ” So you’re going to see that this kicks some butt just by optimizing it for the skimmers without even having to read it.
3. Enter the Gathering
You will need to create a testimonial campaign, if you’re going to use them in your marketing pieces. So what you can do is before the launch you can ask for feedback on social media, your email list or by phone tel-seminar.
Find people interested in whatever you’re creating a product for and say, “Hey, I’m going to be offering this product, and I’m going to sell it in the future. But first I wanted to get people to have review copies. Would you be willing to give me some feedback on this product — what you liked about it,” and so on and so forth. “I’ll be giving this away to five or ten people.”
So when your product’s done, you give it away. You get some feedback and then you ask them once they give you your feedback, “Can I edit this and put it into a testimonial and put it on the site? Would that be okay?” And a lot of them will say yes — 8 out of 10 of them say, “Okay. Yeah, sure. No problem.” That’s how you get testimonials. It’s the easiest thing in the world.
What I personally like to do now because I favor speed is I launch it in a public format. So in this case you could either launch it for free on the blog and then have people post their feedback right on the blog to get the second half of the report or a bonus, or you could simply launch it in a forum where people actually can reply in a public format on the forum by giving you their feedback right there in the launch.
Or this is another one that I do. After the launch I send out an auto-responder asking for feedback. I basically say “What results have you gotten so far with __________?”
4. The Google eMail Trick
So with the product you created you could say “What results have you gotten so far? Could you please tell me how it’s helped?” So I send that out four or five days after their purchase because it forces them to consume, but at the same time a lot of people will send me e-mails. They’ll say, “Wow, Valerie I did this. I did this. I did this.” And then instant testimonial. In fact, I get so many testimonials I don’t even really use them anymore. There’s just too many of them. I actually have a little tab in my Gmail account here for testimonials. If you implement this strategy very very soon you will have more than you can use as well.
And the last thing is you can create a bribe. You can simply say, “Hey, I want your feedback. I want to get your testimonial, and if you give it to me, I’ll give you something special like a free report or something for free.” In my case I usually will give them 1-2 free 20 minute coaching sessions as a way to really get to know the needs of people in my niche. So get your testimonials. That’s how you overcome skepticism.
5. Anticipate and Prepare
Another very important thing for overcoming skepticism is anticipating it. I learned this from Eugene Schwartz. He had a headline that said “Whoever heard of 17,000 blooms from a single plant?” In this case he could get 17,000 roses to bloom from a single plant, but that sounds so incredulous that you’re like “Yeah, right.” If you just came out and say “17,000 blooms,” they’re going to say “Okay. I don’t believe it. I’m skeptical.”
So you anticipate it with the copy your right.
Example:
First the headline — “How to Write a 400-Word Article in 7 Minutes or Less Including Research and Proofreading.”
Here we go — perfect.
“Dear fellow article writer, did you watch the video above? It’s hard to believe so many people would send me such raving unsolicited testimonials about my product.” It’s hard to believe — I am immediately addressing their skepticism and then actually go right into my pitch on the guarantee.
By anticipating it you’re able to deal with it and you’re reading their minds so you’re gaining rapport with them.
6. The Smaller Commitment
The other thing you can do is start with a small commitment. This is great for overcoming skepticism. People are generally willing to suspend their skepticism if you’re only asking them for $7, $17, or $27, not $97 or $297 or $1,000. So if you could start with a small commitment and deliver on it, then people are going to be less skeptical in the future. I made a business out of this. I sell a lot of front-end products, and then I move those customers up the ladder to make bigger commitments later because I know I can deliver more value than what I can deliver in a $50 product. But I don’t try to sell them my $800 coaching program right off the bat. No, first I start with a small commitment to let them know that, yes, I’m a real human being; that yes, I deliver on what I say; yes, I over-deliver on what I say; and yes, if you go deeper you’re just going to get more and more and more of my good stuff.
So that’s the best way to start with overcoming skepticism. You can do that for free. You can do that with lead generation. You offer them something for free that’s very good, and then you say “Look, if you want to go deeper on this, we really deliver even more value to these people.” And so that’s a great way to overcome skepticism.
7. Share Personal Results
Share personal results! Again, I have a saying called “proof before product.” That simply means I don’t create a product unless I have proof for it in advance. So almost all my products are created this way. So I basically share personal results. One of the products that has sold pretty good for me is my 45 Days to $100k, and that was simply my whole story. It was basically proof. This is how I overcame skepticism. I share my story with my clients.
Then I talk about how I got started in insurance and then went to internet marketing and then to real estate. I can now almost print money at whim. This path allowed me to make certain money, which allowed me to create these products. Then I created these products; so people wanted to know how I created them. So I showed them how I created products. As simple as that..
But the fact is your own personal results are going to be a huge factor in overcoming skepticism, sharing your story and expressing to others your desire to help them. If you don’t have personal results, there’s two options:
You either go out and get them and then create the product,
Or, you make somebody else the “star” of the copy. In this case you find somebody else, you interview them, and you share their results.
Or you find public domain. You take that person who created the product initially and use their results as leverage.
But you’ve got to share some results, especially in a lot of these competitive markets if you’re going to overcome people’s skepticism.
8. Use Modalities
Finally, use multiple modalities. These are basically all the things that you can use: the written word, audio, video, charts, and pictures.
Now I’m not big on charts because they just take too long for me, but it’s something to consider if you have a chart in your hand.
So the written word is the things that you talk about your guarantee; you talk about your testimonials and stuff. But for example, what’s stopping you from taking somebody, calling them on the phone, and getting their testimonial? I do this a lot, especially with my higher-end coaching clients. I get them on the phone, record their testimonial. Also what’s to stop you from making Power Points of what they’re saying so you have video testimonials from everybody? Nothing is stopping you. This is a really good exercise, and you can do this very quickly.
So then you can put the written testimonial underneath the video, if you had it transcribed; or you could have the audio and the video playing with the written words inside the video, and the audio is playing so they can hear it while they read it and while they see it in front of them. That’s a very powerful tool for engaging them on multiple modalities, and it’s going to make you whatever proof you have to overcome their skepticism even more powerful.
The same thing is true with guarantees. You can talk your guarantee out and record it — good. You can do it on video so people can watch as you speak your guarantee — very good. And then you could put the written word next to it, which is what I like to do, and that’s powerful.
Pictures, charts, videos, audio, and the written word are great. Anything you have for proof, you can make it even better if you somehow figure out how to present it in the written word and audio or video, a chart, or pictures. And all of these things together will overcome skepticism.
In closing: As you noticed, I don’t use just one; I use all of these. I tie a strong guarantee with straight testimonials. I anticipate their skepticism. I typically ask them for a smaller commitment up front before I sell them something big on the back end. And then I use my own personal results to fuel it, and I tie all these in with multiple modalities.
That’s all you have to do, and that’s how you overcome skepticism. Very simple, but extremely effective.
Put it to use and share with me your results.
If you enjoyed this article and got value from it please comment below. Also please feel free to reach out and connect with me on LinkedIn.. You can’t miss me! “The lady with the Red Dress”. https://www.linkedin.com/in/valthecoach
Cheers,
_____________________
Valerie Adams, CMA / Investor, Coach & Mentor
If this article is helpful please like and leave a comment below. For more information on starting a career as a real estate investor please contact me so we can set up an appointment to discuss.
When we speak of the real estate economy, we use national statistics but we are speaking locally. On the other hand the stock market is based on the national and even the world economy. The real estate markets are based on local or even micro-local economy. Meaning, what is happening in Chicago may not directly affect what is happening in Toledo.
What affects all real estate markets together are the interest rates, inventory, buying activity and social-economic events such as corporate headquarter relocation plans, unemployment and re-development plans. There is no single barometer to measure the entire housing industry in the USA.
So, while statistics calculations and economic factors are relevant, equally important is using one’s common sense. We must keep our eyes wide open and take a look around and see what is happening around us. Talking to real estate agents, investors and lenders in a particular area can be a big help to access and tap into new markets. Equally important are conversations with contractors, freight companies and looking at the money state governments are putting into attracting new companies and tourists.
These are issues one must consider while dealing in real estate.
One major issue facing corporate real estate managers is how to effectively manage the real estate assets in the current market environment. Now more than ever before it’s important to buy low and rent commercial properties competitively to decrease turnover and increase ROI.
Secondly, real estate agents and consultants provide information about utilities, zoning, schools etc. But two common issues a buyer faces while buying are:
i. Will the property provide the right environment we want for a home?
ii. Will the property have a good resale value when we are ready to sell?
These questions are especially important to anyone looking to use buy and hold as their investment strategy.
Another important issue that any buyer/investor faces are the legal issues. Real estate laws vary from state to state. Including properties that must be closed by an attorney in some states instead of a title company. One must consult an attorney licensed to practice real estate law in the state in which the property is located.
Third; there are times a property a buyer is interested in is available but not properly advertised. It may take you some time and effort to search for and locate the right property. Thinking outside of the box is going to be where you will earn your keep here! The value you bring to the table as a consultant to investors and sellers is outlining the ROI as investors outline their investment sweet spot.
The issue of finance. We must know our financial reserves plus our borrowing capacity. If we know about our current savings, income and debt, then we can take help from lenders; banks and mortgage companies, which offer some choices according to your financial capability. There are additional options to Real Estate Consultants; such as connected with private money lenders who lend based on the performance of the asset. This is a option that will help you to stay engaged and active in the marketplace until you develop a strong financial portfolio.
In America, some real estate associations and commissions have sponsored regulations that require all real estate brokers to provide a minimum level of services which forces sellers to buy services they do not want or need. This alone is what opened the door to a new way of selling real estate. Most sellers do not want to forgo 6% of the profit on their profit in addition to the additional service brokers sometimes ask for. Most seller prefer to work with Real Estate Consultants as a way to pay less fees; often only 3% consulting fee is added to the accepted offer price. Also in most cased, because of the network of most real estate consultants the deal can be closed in a fraction of the time.
Issue of rebates on transaction fees. Some states in America allow rebates of commissions or fees on real estate transactions but some states have legislated regulations which prohibit rebates. These regulations were very much needed especially after the 2008 real estate fall out. Understand contract law and if you don’t partner with someone who is. You do not want to sign an agreement for private funding that succeeds state legislation and caps on interest rates and fees.
Next is the issue of consumer participation. The consumer federation of America released a study that real estate boards and commissions are dominated by real estate practitioners and they recommended greater participation by consumers; which is opposed by practitioners – this works against the interest of ordinary buyers and sellers.
Last but not the least, a lot of hoopla has been floating around in the news media about the ‘bubble’ theory of real estate and that the real estate market is going to burst – this may have a psychological impact on the potential buyer or seller. What this means is there will be more investors and buyers that will be very conservative in their buying approach.
For more information on starting a career in real estate investing contact me for an appointment to discuss. If this article was helpful please leave a comment below.
For people who are just getting their feet wet in real estate investing it is usual for them to notice at the very outset that having a network of fellow investors as well as buyers can be a useful source for making their investment business flourish. Having a decent network of people to fall back on can help you locate the better properties and to also find out whom the more interesting investors are and who will want to buy real estate from you. In fact, it is not all that hard to build up your own business network provided you know how to go about this rather simple task.
REO Agents Are A Good Source
As far as real estate investing goes, it is also common that you won’t buy every property that comes your way though at the same time when you check out different properties it will bring you into close contact with others who have similar interests and thus you will have found a safe and assured means of building a business network. After you have made a few deals related to real estate investing you will also have come into close contact with REO agents who may be holding bank properties that are in post-foreclosure, and this too will help you to expand and build your business network.
Another way that your business network will flourish is when customers come to you for repeat business, which will help the network to widen even more. In fact, for every fifteen or twenty properties you check out, don’t be surprised if only one or two actually get completed and the rest will remain just a part of your business network. This in turn will then lead to your getting deals that fit in with your real estate investing profile because after a while agents as well as investors will begin to understand what exactly you are looking for and thus they will offer you only those deals that fit your needs and wants the best.
As this business network grows, so too will the chances of your landing more deals that would mean that you could then start making at least four or five new deals instead of the one that you were making at the beginning.
Since repeat clients can give you maximum business, when indulging in real estate investing, you should makes sure that you record all the information pertaining to everyone you meet in connection with your investment activities. This is a good way of finding more opportunities and because there are many foreclosures, it is also the right time to capitalize on the real estate investment business and grow your business network through checking out foreclosure lists.
To grow your business network when it concerns real estate investing you may also want to check out online sites that deal with investor networking opportunities. A good example is the website for; American Investors in Real Estate Online where you can find many like-minded investors and a lot of high quality facts and information dealing with real estate investing. In fact, if you also attend seminars and go to classes that deal with networking, you will find that your business network will expand considerably and that in turn should help you earn more out of real estate investing.
Another source worth tapping into is http://www.biggerpockets.com; which is a leading online community comprising of many real estate investors and homeowners as well as professionals dealing in real estate. It is an ideal place where you can further your real estate investing goals and also build your business network and also learn new things related to the real estate market.
For more information on starting a career in real estate investing contact me for an appointment to discuss. If this article was helpful please leave a comment below.
Unquestionably, almost all people want to earn more than enough money. So they find ways to earn extra income.
Indeed, real estate is a prevalent investment. There are millionaires out there who gained their fortune through real estate investing. Even celebrities are entering the real estate world to capture bigger earnings. They realized that investments in real estate are a good way of generating revenue. But do all the deals that you close guarantee big money? Well, the answer actually depends on a lot of factors.
Bigger Money On The Best Deals
So what is the millionaires’ secret in real estate investing that you do not know about? Here is the way to obtaining fortunes in real estate. Actually, the means of getting the real estate investing riches is not through recent techniques, methods or systems. Instead, it is through patience and research, and simply keeping an eye on changes in the marketplace.
Something big in the marketplace generates express growth in the real estate investing industry. Such big indicators could include fresh major employment progressing into the area, new factories, centers that offer sales and entertainment investments. If you ever smell and spot one, take hold of it because you’re near to grasping a fortune.
The issue is not on the number of deals that you make. What makes real estate investing a prosperous business is actually about the kind of deal that you make. If for example there are hundreds of business opportunities around and you invest to about 90% of them it wouldn’t guarantee you riches. But for instance, if an investor closes a deal which has a good price, it will guarantee him a huge amount of money. Even if that is only a single deal, what matters is the amount that you receive minus the expenses. If that still totals to a huge amount, then you’ve probably hit the jackpot.
Tips And Tricks To Make You Rich
There are some points to consider before becoming rich in the real estate business. The first thing to to consider before real estate investing is to decide whether or not you have the money for it. If you choose to borrow your capital in the business, then try to consider the necessary repayments and interest rates on your loan. If you also plan to do outright purchases in real estate investing, be confident enough that your savings is enough. Never make a mistake because it will lead you to spending too much and earning too little.
Once the budgetary chapter of your investment turns out okay, the next step is to choose competent people to work with. It is always better to choose good people inside the realm of your money making. Remember that you are in need of reliable people, from agents to banks and even customers. With everything on hand you’ll end up getting the better side of the bargain.
Another important thing to contemplate before real estate investing is the reason for your venture. Choose deals that will make you good money, but also remember that not all big investments have good payoffs. Know first how everything will run and clearly apply the legalities so that the business can be all set and clear. One wrong move can make you lose a large amount of cash, so take things slowly but remember to do them correctly.
In real estate investing, not all deals give you great payoffs. It also doesn’t imply that you’ll get rich if you invest on three or more deals. It is really about the investment that you choose to enter, your capabilities as a negotiator, and at one way or another, your luck.
For more information on starting a career in real estate investing contact me for an appointment to discuss. If this article was helpful please leave a comment below.
If this article was helpful please leave a comment below.
Let’s explore the mind of real estate investor and look at six common characteristics that successful real estate investors possess…and gift wraps powerful mental concepts for you.
Myself and many others are living proof that by changing your mental and physical habits, you can build your wealth. This mini-course focuses on changing or fine-tuning your mental habits and attitudes toward real estate investment so that you can profit at will. It’s about getting your mindset right.
By mindset, I mean your way of looking at, and approaching your real estate investment business. This includes the way you perceive your business. It also means that you need to allow the things that impress and intimidate you; to also be what challenges and excites you.
Note: This article is the introductory session in a soon to be released mini-course entitled “The Mind of the Real Estate Investor” and the full course will soon be available here; to subscribers of my real estate blog. This course will be a free service.
Why bother with “mindset?”
Simple. Because the cost of NOT adjusting your mindset is outrageously expensive (in opportunity loss)! If your mind isn’t conditioned to think like a wealth-building investor, you are like a sailor paddling around in a boat with holes in it. If you bail water quickly enough, you’ll keep it afloat, but you will eventually tire…and sink!
ALL money-making endeavors begin with a thought. They are all ideas born in the mind of an investor. Some have more and better ideas than others. Why is that? Are some minds better conditioned than others? I say “yes!”
In our society there is often resistance to conditioning one’s mind, but nobody thinks a thing about going for a jog, or hitting the gym to condition their body. Does that make sense? If you walk the entrepreneurial path, mental conditioning is central to your business.
The six concepts that I will unfold in this course are powerful weapons of the mind. If you condition your mind to these concepts will make you a lot of money, and you will KEEP making a lot of money.
Simply put, if you don’t develop, and then fine tune your mindset you will either:
Never get around to investing in real estate (if you have not yet begun) and forfeit the wealth you want to attain for you and your family.
Never quite get where you want to go in your investing (if you are already investing), and forfeit the wealth you intended to attain for you and your family.
You see, a lot of people have enough knowledge to invest in real estate. Far fewer DO it. Why is that? Because far fewer have bothered to develop the mindset that conquers fear and other hurdles to investing in real estate. Frankly, it doesn’t matter how much knowledge you possess about investing in real estate, you WON’T do it if you haven’t conditioned yourself to think like and investor.
Usually I write and teach practical matters of rehab real estate investing, but for this course, I’m breaking from that in favor of talking about what you can do to adjust your thinking…change the way your mind works. Since the investing won’t be successful without a properly conditioned mind, it can be considered the most important aspect of learning to be a real estate investor!
Mindset is the foundation of real estate investment. In other words, if it’s not solid, you cannot invest successfully. I don’t know how to put it any plain-er.
I’ve known scores of people who have WANTED to invest in real estate. These are usually acquaintances who find out somehow that I invest in real estate. It’s very common that I hear statements like; “I’ve thought about doing that.” Sometimes I hear “I looked into that.” Sometimes they proceed to ask questions, but I find that most of the time the next word after the previous phrase is “…but” and then I hear an excuse.
These excuses range from “I couldn’t find any property” to “the numbers scared me” to “I couldn’t get funding.”
What I’m thinking to myself is “these excuses have solutions, but they don’t yet have the mindset to overcome these relatively minor hurdles.” In fact, unless someone ASKS me for specific advice on overcoming these hurdles, I don’t offer advice. That’s not because I don’t want them to succeed! It’s because their mindset is not yet right. What I’ve have learned in coaching that is much as you have to tools to teach another, you can’t make them follow them.
Let me tell you where I’m coming from on this topic.
My mindset was screwed up for 10 years! I was a real estate guru junkie! For a decade I consumed every book about real estate investing on the market, attended seminars, and bought courses. I had “book knowledge” running out of my ears with ZERO property.
Finally, one day I realized that I was about to “retire” from my Corporate job in the Pharmaceutical Engineering field. I REALLY didn’t want to get a job, and my family still liked to eat! I changed my mindset, and put thoughts into action. The rest is history. What changed? Not my knowledge! My way of thinking changed. Change of thinking also means changing execution.
Facing the end of my career was the catalyst that got me started. If you haven’t started, there IS a catalyst in your life, you only need to find it and capitalize on it. Are you satisfied in your job? Want more time with family? Want more disposable income? Want to build your retirement savings? This list could get long!
This course is aimed at helping you capitalize on your action catalyst by developing your real estate investor mindset.
For those that are already investing, this course will serve to fine-tune your mindset to make you more profitable. The VERY SAME mindset ideas that make people launch successful real estate investment careers are the ones that keep investors successful over their real estate investing careers, be it 2 years or 20.
For more information on starting a career in real estate investing contact me for an appointment to discuss. If this article was helpful please leave a comment below.
Investing in real estate can be profitable if you know the correct ways to do business in this field. As real estate investment experts say there are several keys to making significant profits in real estate investment deals. And when the deals are profitable, you will certainly be well on your way to success. For real estate investment neophytes, don’t be afraid of the challenges and pitfalls you may encounter along the way.
There is definitely a lot to learn, but in the long run after you have gained some experience, you’ll hopefully become a master at closing profitable real estate deals. There are 5 core skills that are necessary for building a real estate investment business. These will be the key factors in creating a profitable real estate investment portfolio.
These are the 5 core skills of real estate investment:
You should totally understand the meaning and concept of investing in real estate, including all of the financial risks and benefits.
You must learn when and where to find the right kind of sellers.
You must become an expert in all areas of real estate investment and understand such terms as lease options, cash sales, wrap mortgages, short sales and other terminology common in the real estate investment trade.
You must be able to quickly and accurately analyze each real estate investment deal so you’ll know exactly when to proceed and when to pull the plug.
You must learn the art of being a master negotiator when it comes to closing your real estate investment deals.
After considering these five skills, it is time to consider investing in real estate. There are great potential rewards and the effort you put forth can yield enormous monetary returns on your investment. Your confidence level will grow when you’ve gained some experience and closed on your first few real estate deals. But, don’t stop there…
You should continue to learn about real estate investing and to develop your investment skills. In a short time you may find yourself managing a profitable and growing portfolio of investment properties. Moreover, you should also continue to follow your real estate investment “game plan” and always keep an eye out for the hidden investment opportunities. The opportunities are definitely out there and with a little knowledge and desire can be yours for the taking.
So, why not get started in what might be a new and exciting (and profitable) career today? For more information on starting a career in real estate investing contact me for an appointment to discuss. If this article was helpful please leave a comment below.
If this article was helpful, please leave a comment below.
Valerie "The Coach" Adams 