Investing in Real Estate

Where do I start!

There are many different facets of real estate investing. There are things like probate, wholesaling, agent services, property management, flipping, multifamily investment properties, single family rentals, condo conversions, land development, custom builds, and so on. The key is to strategically and intentionally decide which direction and aspects of real estate investing is most attractive to you. I recommend that once you have determined which aspect of RE investing you are going to pursue, that you write down a list of every-single-reason why you should not pursue this real estate investing path. In order to prepare for success, you must also prepare for failure. There has never been a long-term investor who has completely avoided disappointment, financial loss and a ton of adversity. That being said, the simple yet daunting task of identifying as many reasons NOT to pursue real estate investing, will paradoxically HELP you pursue real estate investing. Too often house flipping is over-glamorized on television and everyone starts to see the process as some one-dimensional project, when in all actuality, “reality” is much different. (Oh the irony).

The best approach to successful investing is to follow the following 3 steps outlined below.

Educate- Start to read and listen to every single piece of information you can find regarding the aspect of RE investing you are interested in. Never stop learning, and make it your personal goal to learn at least 1 new thing about RE investing that you didn’t know. Go to bed a smarter person each and every day. Your commitment to learning each and every day with the progressive mindset that you will not stop until you reach your goal will inherently become a catalyst to your success.
Find a mentor- Motivational speaker Jim Rohn famously said that “We are the average of the five people we spend the most time with.” This relates to the law of averages, which is the theory that the result of any given situation will be the average of all outcomes. All successful people understand that, in order to increase your wins, you’ve also got to increase your losses. Finding mentors who have been when you want to be, and accomplished similar goals as you have outlined for yourself can strongly increase your chances of success by perhaps mitigating newbie mistakes.
Take action- “If you wait until all the lights are ” green” before you leave home, you’ll never get started on your trip to the top.”- Zig Ziglar. The man speaks the truth! Knowledge is not power, it’s potential power. RE investing can be a scary world, but if you want to play the game, you’re going to have to ante up and make a move! In the end, you can only rely on two things to become a successful investor.
The numbers of a deal
The Unfalable perseverance to succeed.