Steve’s unique specialty is the «flipping homes punch», a proven system of real estate investing that powerfully combines wholesaling and rehabbing houses. In fact, most people do not. As an investor and entrepreneur, you should always be on the lookout for ways outside the obvious to improve your return. The key to being successful as a real estate investor is planning. Success in real estate investment is not without obstacles and roadblocks. Very few make it, because very few plan. What is your purpose?
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To jump start your career in real estate investment, here are the rules to follow. Start out simple. Buy one or a few properties and go from there. The earlier you begin investing, the sooner your properties will begin to appreciate and, in turn, provide you with more capital to start your next venture. Larger assets tend to appreciate faster and can be more beneficial to your portfolio as opposed to smaller, cheaper properties.
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Site Invexting. Copyright Notice. Free Newsletter. Author’s Articles. I am often asked by people «How do start you career in real estate investing get started in real estate investing? However, before I tell you my answer, let me share some observations that I have made over the course of my investing career. The Lord has truly blessed me in my real estate investing endeavors and, as a result, I have had the opportunity to meet other successful investors throughout the esstate.
First, let me clarify what I consider successful. Success is not measured in the amount of money that one possesses, but on the careed that one lives. There are those who are authentically successful and there are those who fake it. When I refer to successful people, I’m talking about the authentic ones — the people who have «arrived.
My successful friends all love to estste about their war stories -«What tou used to be like. Most not even realizing it themselves. Do you think the common thread is education? While I can’t vareer the importance of real estate education enough, that’s not it. There are many educated investors, but few successful investors. Real estate education is relatively cheap and easy to. In fact, there are some people out there who are so yo about the techniques, they skip investing and decide to write courses and teach classes about the subject.
But it has been said that if you want to be successful, you need inesting learn from someone more successful than. The key to being successful as a real estate investor is planning. Successful investors always have a game plan. Educated investors only know how to do deals.
They don’t know why they are doing deals or where they are going. They just aimlessly pursue invesring. I aimlessly invested for two years before I put a plan into place. I did deals in my first two years and was basically starting from scratch when I stopped. After evaluating what I had done in estare years, I came up with a plan on how I was going to get to where I wanted to be. My life has changed tremendously since coming up with my plan!
It is not because I have done more deals, but because I investig done. Often the mindset of the investor is, «If I could only do more deals, I’d get ahead.
Did you ever think, «If only there were more hours in a day, then I could work another 10 hours and make more money. The answer to these thoughts is planning. You have to take responsibility for your life, your finances, your spending, and your actions.
There are important actions that successful investors can make plans for, such invwsting They Control Their Debt You need to control your debt i. If you have it, debt will be your master.
It will cause you to lose sleep at night, force you to hold on to your job, and keep you doing things that you don’t want to. All of my careet friends stopped accumulating debt. They no longer buy cars and other consumer items, eat out or spent anything unless they have the cash to do it.
Many of them even scaled back their lifestyles. I personally moved into estatte apartment, which is a common theme among many of my friends. They were willing to give up the «glamorous lifestyle» for a little while in order to live a lifestyle that would allow them to live out their dreams.
They came up with a plan to pay off their debt and vowed not to accumulate any. In fact, most people do not. They normally respond, «Because I want it. Often people think that making or having a lot of money will cure everything and give them the life that they want.
This is a lie that society wants us to believe. If you don’t know what you are doing, money will make you miserable. However, money and a plan can set you free.
They are Rfal to Focus In order to be successful at anything, you need to become good at it. The mindset of a real estate investor is to be successful quickly. No one sits down and makes investkng a plan to be financially free in 40 years! It’s more like two to three years, ib some people will actually give five to ten years a shot, but that is rare. The good stagt is that two to three years can change your life if you have a plan and direction. Without yok tools, these years could ruin your life.
Investors who focus normally find a niche in real estate investing and go after it. They are not pursuing all different types of investing. People who sell «the full toolbox» of courses may be angry at me for saying this because they will sell less if you believe that you only need one method of investing. But I just tell inesting how I see it.
Some of these concepts and steps seem so simple and, in actuality, they really are. However, most people who I talk to believe they are already doing. But the likelihood is that their «plan» is really not a plan. They don’t know where they are going, how they are going to get there, what method they are going to use to get there, how long it is going to take to get there, or what to do along the way if they get lost. Usually they just run in circles until they get tired and then bow out along with many of the others who have bowed out of the real estate investing game over the years.
Very few make it, because very few plan. Successful people don’t achieve their dreams by accident. You shouldn’t. Steve Cook. Since Steve Cook has flipped many hundreds of houses as an active Baltimore-area real estate investor. Steve’s unique specialty is the «flipping homes punch», a proven system of real estate investing that powerfully combines wholesaling and rehabbing houses.
Steve Cook is dedicated to helping others succeed through understanding and aggressively applying his time-tested, step-by-step approach to flipping real estate.
Copyright All Rights Reserved. Published with Permission of Author. Gou Options. Printer Friendly Page. Send This to Friend. A Good Contractor. Building ib Ultimate Wholesale Buyer’s List.
Getting Around The Non-assignability Clause! Getting Started in Real Estate Investing. Part 2 — Finding Hard Money Lenders. Part 3 — Profiting from your Hard Money Lenders. Proper Handling of Contractors. Rehabbing a House From Start to Finish.
How To Get Started In Real Estate
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Getting Started in Real Estate Investing. Risk tolerance also plays an important acreer when building a real estate portfolio. For those that choose to start a career in real estate, you will ultimately become your biggest cheerleader. There start you career in real estate investing those who are authentically successful and there are those who fake it. This question is important when you start a real estate career because it puts into perspective your goals and how you intend to obtain. Looking for greater returns? It will cause you to lose sleep at night, force you to hold on to your job, and keep you doing things that you don’t want to. Name: Email:. Since Steve Cook has flipped many hundreds of houses as estxte active Baltimore-area real estate investor. Sign Up. The good news is that two estaet three years can change your life if you have a plan and direction.
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