5 THINGS TO HELP YOU GET STARTED REAL ESTATE INVESTING
I done my first deal about 2 weeks ago and I have studied REI diligently for about 9 months now. I feel like I should’ve at least another deal done but I made a few mistakes along the way. By no means am I an expert but I want to create something to possibly help those just getting started. So here are 5 things to motivate you and help you move forward in your real estate investing journey.
1. READ/WATCH MOTIVATIONAL STUFF. I am sure that a lot of other members here would echo the fact that the belief in yourself is very important. Myself, I had to read a few self help books to help my confidence and motivate me. I am almost sure that you can’t succeed with this business if you don’t use this sort of material because of all the obstacles you will encounter. Here is my top 3 books to help yourself.
• “Keys to Success” by Napoleon Hill
• “Think and Grow Rich” by Napoleon Hill
• “The Power of Positive Thinking” by Norman Vince Peale (religion oriented)
You can add the Bible if you believe in God, but I am not here to tell you what to believe. Google Tony Robbins while are at it. I had heard of him prior to changing my life but he is truly close to a genius.
2. FIND A LOCAL MENTOR. Dean and his team got me started and now I have a local mentor to help me finish. A seasoned investor knows what works in your local market and what doesn’t. Although make sure you pick someone who is very good at what he does. This is something that I don’t see mentioned often but I think is vital, depending on what resources you have (money, skills, etc.). But you can’t just extend your hand and expect to receive. Learn how to approach people and always have something to offer back in return for mentoring. You can find deals “bird dog” for them or provide something outside of real estate , maybe you are a mechanic and can fix his cars, be creative.
3. NETWORK. You need to get out of your comfort zone and talk to people. This has been my biggest obstacle but it has to be done. You have to realize that with time, the thing you fear can be eliminated by doing that same thing. Get out and go to investors clubs and you might find a partner or someone to add to your team (Realtor, mortgage broker, etc). If I did not do this, I would not have a deal right now.
4. TAKE ACTION. This is something you hear a lot and is because it is very true. That is not to say that you don’t learn first and know the basics. But you have to get out there and knock on doors, drive around looking at homes , and call some FSBOs signs. If nothing else, you will get experience and that is not time wasted. You have to be looking at homes and making offers , you can’t make money if you don’t take shots.
5. NEVER QUIT. If you really want to change your life through real estate investing then you need to put that in your mind and don’t let it go. You can’t be denied if you keep digging, eventually you will find the glorious light. It might take you 2 years or 2 months, depending on your time and resources but you will get there as long as you don’t quit. If you need to move forward 100 feet to get your first deal, every small inch you move forward each day makes a big difference. Then you will be moving forward a foot per day and that equals miles later down the road. DON’T QUIT!
FAILURE IS NOT AN OPTION!
I WILL NOT BE POOR ANYMORE!