You are ready to invest in real estate, but you don’t know where to start?
- Fear of making a big mistake?
- Fall into awkward analysis?
You are not alone! Almost all real estate investors have spent countless hours early in their career looking for different strategies to discover where to start.
The present article seeks to answer such questions. Although everyone does not have the right answer, every potential investor needs to ask himself three key questions:
- How long should I invest?
- How much money do I need to invest?
- How do I want my business to grow?
A good way to start an adventure is to set a goal and then design a plan to implement it! This is true even if you have to make changes in the process, and getting there is an important part of fun.
Real estate investment can help you spend $5,000 (30 days or less) in your pocket every month to achieve all your financial dreams, with annual income after taxes of millions of dollars. You have to make a decision in advance, whether you are looking for a millionaire status, or just paying your bills in your pocket.
No matter how your dreams and wishes use real estate investment to achieve your goals, we believe that if you want to succeed, there are three basic rules to follow. They are here:
Rule number one is: Focus – Focus – Focus
If you are looking for a long-term commitment to this activity, you must determine in advance that you need to reserve funds for each transaction/transaction in order to reinvest in your training. Once these goals are achieved, different strategies are adopted.
For example, suppose you end up wanting to be a developer (like Donald Trump, Sam Zell or Trammell Crow), but today you have a job and you have $50,000 in debt. Your first step may be to make money quickly to repay debt next year, and then in the medium term (such as in the sixth month), start implementing a strategy to get enough income from your real estate investment. Resigning from work creates a stable foundation (sufficient to pay his bills and then part of his investment activities) to start the development plan. In general, this may require three different strategies.
The “classic” mistake many novice investors make is trying all three strategies at the same time – don’t do it! It’s best to learn a quick cash strategy, master it, then move on, and then try three strategies at the same time.
Old African proverb: “There are no people chasing two tigers.”
Regardless of the strategy followed, history shows that people who focus on time, energy and money are more likely to succeed than those who do not. Be patient – concentrate – start small and grow up. RECAP: The number one rule is: FOCUS-FOCUS-FOCUS
The second important thing about real estate investment is that you learn through practice. We know that there are a lot of night TV shopping shows saying: “Come to our free seminar, spend $5,000, tomorrow you will wake up the millionaire, but the problem is that we never found anyone to admit that it really works.” In addition, some people Spend a lot of money going to college or university to learn how to “achieve success in real estate.” In general, if you continue to work with it, it can work 25-40 years old. A real estate company enriches another person; if you are lucky, you can learn enough (possibly) and then leave alone.