Real estate investing has always been one of the ways that the determined investor can excel to great heights regardless of one's educational, financial, or credit level.
I like to say there’s always time to do it right the first time. And in that spirit, I want to prevent you from making some of the same business mistakes I’ve made by sharing some foundational nuggets I’ve learned along the way.
The first and most paramount tool an investor can have is a solid real estate investing education. I cannot stress this point enough. Investing now is made up of so many different venues, options and techniques, you have to be prepared for any and every thing you may come across. If you aren’t prepared, that could mean leaving money on the table. I would challenge you to have at least a general idea of the different RE investing techniques. REIAComps is an avenue to help you see which areas are most profitable. This will assist you in deciding what area you enjoy and in which you work well.
I am a believer that one learns best by doing, especially if one actually enjoys the work. There are numerous ways to become wealthy through real estate .However, getting education from others who have been where you are going is always wise. One type of OJT or on the job training is wholesaling properties. You can actually learn about investing while doing deals at the same time. It’s a virtually risk free way to learn the ropes and earn cash.
One point to remember, when you receive your proceeds be sure to reinvest back into your business for marketing, education, and any emergencies that may come about. I can’t stress enough the importance of making an investment in your real estate investing education. Taking time to read books, listening to audio lessons, working with experts and mentors will help you to gain footing in the real estate business.
When you keep doing wholesale deals you will begin to gain the ability to set monies aside and build a buffer for your business. This buffer will afford you and your business many freedoms with deals you come across. This cashflow is what leads to the option to concentrate hard on your education. It's important that you don't ever consider yourself "above" knowledge. If you’re always in learning mode, and in a continuous learning mindset you will achieve long term success.
The important thing to consider once you get to this level, is to take yourself out of the equation. Learn to develop a team of people that you can trust to delegate tasks to that will enable you more freedom to explore the next deal. Working is more fun when it is something you choose to do.
Use REIAComps as a means to assist you with your real estate investing educational process. Always let REIA Comps help you when working on making your next deal a success. Don’t for one moment let someone tell you the value of a deal. Let REIA Comps help you decide for yourself.
Source: Your Real Estate Foundation