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5 Essential Principles For Real Estate Investing

There is only one answer to the question does real estate investing make lots of money, and that answer is yes. There is more money than you can even imagine in the real estate market, the secret to making this money is learning how to play the game. There are several different ways that you can make money in the market, just take a minute and research all the options that are out there for you to experiment in.

In a real estate investing, Russ Whitney, ask himself, why am I here? Its the same question you asked yourself when you wish to attain some thing, why do I desire to attain it? These are basic questions that typically one is asked about his goals in life. But the most widespread answer in any organization seminars, is “I wish to be rich”. Being rich us nearly everybody’s dream. To have the ability to attain it, you need to work for it. Plan for your objectives and objectives in life to move it forward to reality. Everybody wants to attain stability in life and even a lot more than that.

Notice that the focus so far has been on the property. The property is very crucial to a successful investment. The other piece is the purchaser. The lender has to have some idea of the competency of the purchaser. The best proof is a portfolio of previously successful real estate deals. Absent that, the investor has to rely on a judgment of the character and competence of the property purchaser.

Have a mentor. You do not have to join a high-price coaching program to mentor you. Your mentor can be a real estate investor at your nearby real estate investor club that you struck a good chord with. Ask them if they mind if you give them a call once in awhile with a question or two. They probably won’t mind if you call them once a week and talk for 10 minutes. Another option would be friends in the business. Some individuals do have the luck (or have put in the effort) to have a friend or two in the Scott Yancey game. A good real estate education program or course will also help here.

In 2006 I joined a network marketing business that promoted real estate education. My sponsor was typical, he said “promote the business to everyone that is three feet in front of you. Promote to all of your family members and friends…” So I did that with no success. My family members and friends were not convinced because they knew that I did not know anything about real estate. I paid people to hand out flyers and post cards throughout the city and I did not get one phone call. I spend $5,000 on advertisement. I was broke after 6 months of chasing my tail.

Answer the phones and don’t have big expectations. A motivated seller means someone that needs to sell now. A lot of calls will be people just curious.

Make it a point to read book on the real estate subjects and take time off to attend few seminars regularly in real estate field. You can go out and examine properties each week which are up for sale, even if you are not actually buying them. This way you will gain practical experience in this field which is all the more necessary in real estate investing field. Millions of women and men have gained financial freedom by making investments in the real estate with requisite experience and knowledge and there is absolutely no reason why you can’t be successful in this business.

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