You want to get started in Real Estate Investing! Who doesn’t? There is a ton of money to be made, fat residuals to be had, and unlimited equity to be owned! You are thinking I don’t have the money nor the credit to even buy myself a home. How am I going to invest in real estate without money and credit? Well you are in luck! You don’t need money nor credit, just know how to network and negotiate. The goal I want to achieve with this article is to help you build the foundation, that will help you through out your real estate investing career.
1. Join A Real Estate Investing Group
Birds of a feather flock together! If you want become a Real Estate Investor find a group or association. If you can not find a group look in your local paper or craigslist, call the ads that say we buy houses and ask if you can help them, in return they teach you how to invest. Meetup.com is a good resource to find a Real Estate Group in your local area.
2.Read Books And Go To Seminars
Reading books and going to seminars are a good sources for newbies to get training and how too. I know you don’t have time to read! I say your wrong you do have time to read, everyone has this time. When you are bombing the restroom! Also start going to Automobile University. Audio books are good to listen to in the car. Education is freedom!
3. Get A Mentor
A mentor can save you years of trail and error. Find a mentor in your area, it my take you a little bit of time but they are there. In Real Estate Investing, there are investors willing to partner with you, and hold your hand through the process. But you have to show them that you are serious about investing. One way of showing them is bring a few deals that you have found and analyzed.
4. Learn How To Analyze Property
Analyzing property is the one skill you will need to master, this is the bread and butter of Real Estate Investing career. You can find online education that will show you how to analyze property, Bigger Pockets is a good source for how to’s. Udemy.com provides dirt cheap education in the real estate niche.
5. Learn The Different Ways To Find Deals
Finding deals is the easiest thing to do in real estate! There are different strategies for finding deals like, driving for dollars is one way to find deals and educate yourself with an audio book at the same time. Bandit signs is another way to acquirer deals , but this way comes with the risk of getting a ticket from your local code enforcement. Finding & Funding Great Deals is a book you must add to your reading list or audio book library.
Stir up business with your marketing! You as a new investors should use every resource you have to your advantage. At this point you should be involved in a Real Estate Group, that can be used to build your investor mailing list to wholesale properties too. Also craigslist is a good source for finding investors too, as well as home buyers and renters.
7. Set Your Goal
Why do you want to learn Real Estate Investing? The Money! What is your goal as a Real Estate Investor? To Get Rich! If these are your reasons for getting involved in Real Estate Investing, you will not last long! Why? Cause in order to master and become the greatest, you must have a passion for it! If you have a passion for R.E.I. The first goal for you is to get through your first deal. After that set a goal to achieve and go after it with all you got!
8. Put Your Daily To Do’s Together
The road to your dream is small daily task done to the best of your ability. What is your Goal? Residual Income of 10K a month or is it one million dollars in the bank? By When? If you want a residual income then you will want to focus on buy and hold strategies. If you want a million dollars in the bank, buy and hold strategies will get you there too. But you will need to become creative in structure of your deals.
9. Discipline And Focus Brings Success!
A life with purpose need discipline and focus to achieve one’s purpose! Once you have your goals and daily to do’s, it is time to get to work. Build your daily to do’s into habits. It takes about 30 days of doing something constantly everyday before it becomes a habit. Stay focus on your goal, always make sure your daily to do’s on track with the goal you have set for yourself.
What are you waiting for? Time is of the essences! Implement now! The road to success in anything, is taking massive action, don’t sit on your ass! Find a group to join, get a book to read, sign up for an online course, find a mentor, set your goals and build that daily action plan to achieve them with daily discipline and focus! You will live your dream life when you pay for it through hard work and dedication.