I just wanted to post here on what I thought was the most important things a new person should do when starting out. Below you will find a list of what I think a new person should do first before diving head first into this great world of real estate investing.
#1.Ask yourself the real reason you are doing this. Why are you really doing this...We all can say money but it is more than money, let me tell you! Do the seven levels deep that dean talks about on here under his weekly wisdom. It will help you to put your feet firmly on the ground.
#2. Set goals: Don't just say them but put them in writing and put them up so that you can read them every morning and evening. It will help you so much you will not even realize.
#3. Find a mentor: Go to your local REIC meeting and find a seasoned investor and ask for some schooling. If they say no ask someone else. Check this site for help..There are several mentors on this site including myself. If you don't ask for help you will not get any. If we are to busy we can point you in the right direction.
#4. Make a to do list and carry it with you. Make the list on a piece of paper with three columes on it. Now, soon and later. Now is stuff that you need to you need to get done for real estate and other things in your life this week. Soon, is for stuff that is coming up like a website or LLC for your business. Later, is stuff that you want down the road like the house paid off or to take your family someplace special for a week. As you get things in the now area done you mark them off the list. At the end of the week you do a new list and move everything forward. It helps to get stuff done and before you know what has happened your goals are getting done. Got this from the edge (dean). He has the list in his pocket at all times...That is great stuff.
#5. Tell people who you are and what it is you do. Say it like you mean it too. If they don't know who you are and what it is you can do for them how are you going to get anything done. I have had tons of people come up to me and say so and so told me you buy houses or help people that need to sell fast.
#6. Advertise: Put signs on your car, make business cards, do fliers, get your name on the web. The web is the number one area to get your business to the next level. 86% of first time home buyers look on the web first for their home. What does this tell you that you need to do. Put it on your list under soon or even now if you have the funds.
#7. Build a buyers list: Run adds on craigslist for a house or go to the county recorders office and get a list of all cash sale in the last 30 days in your area. Send them a letter (yellow letter) telling them what you can find for them and ask if they could contact you back (business card).
#8. Get a deal and make sure it is one: If someone calls on your adds or signs and has a house, get all the info you can but the main thing is to let them talk. They will give you 99% of what you need to know. Then if you are unsure ask someone here or your mentor.
#9. Get an Agent: Some say this is a must..I have two great agents for items on the MLS but I have found most of my deals before they are on the MLS. Yellow letters, bandit signs and word of mouth. There are too many people on the MLS looking at the same thing you are. You can get deals there but so can everyone else... follow the road less taken.
#10. Don't stop: Most people get turned down and give up. If you do that you will do that with everything in your life...Life is hard so get off you &%## and make this happen for you , your family or ??? If you have seen my video then you know what can be done. There are stories on here that will make you cry but that will not put food on your table. You need to do that yourself and be the next story here. So, why are you still here reading this???Go do your list and start marking crap off...NOW GO GET SOME...
Not having a goal is worse than not setting one..