* Real Estate Investing Tips #1
Only buy if it is immediately profitable. Look at it this way… If you can not buy the property today and sell it next week for a profit then it is not a deal! Anybody can pay too much for a property thinking they will be profitable over time but if you follow this simple rule it will keep you out of harms way. Just imagine you purchased 5 homes based on the premise that you would sell them in 5 years for a great profit because the market is appreciating (note: this is not investing it is speculating).
What happens if next week you or family members are diagnosed with cancer (or whatever) and you must move across the country and sell all 5 houses? Unless you followed the above rule you could lose your shirt. Be an investor, not a speculator.
* Real Estate Investing Tips #2
Invest in your real estate investing education. For the first 10 years as an investor I kept doing the same thing over and over that I learned in the first year. Later when I learned about wholesaling, buying subject to, and short sales my profits as a real estate investor skyrocketed. Had someone given me these real estate investing tips earlier it would have changed everything about how I invested. The book “Real Estate Magic 101 - How To Get Rich In Real Estate Even If You're Dead Broke!” will change your life and how you view real estate investing.
My real estate investing library is huge and I have purchased more courses than anybody else I know.
To this day I still attend 1-2 real estate investing seminars every year where I am looking to learn just one or two things that will help me make more with less effort.* Real Estate Investing Tips #3
Study Wholesaling. Most investors and Realtors do not really believe you can purchase properties at 30-50% below market value. For most buying a property for $20,000 to $25,000 below market is a phenomenal deal. But when you learn how to buy wholesale at substantial discounts real estate investing takes on a whole new meaning. Even now you might be wondering if these types of deals really exist and I assure you they are real. But you have to learn how to find them because rarely are they brought to you by a Realtor. What you need is a great wholesaling system so you can find these deals on a consistent basis.
* Real Estate Investing Tips #4
You don't need cash or credit to be successful. When I started as a real estate investor I used my own cash and credit because I did not know about purchasing properties “subject to” their existing financing, wholesaling to other investors to generate cash, or that it was not difficult to get private or hard money to fund deals if you bought the properties at a large enough discount. Nobody told me there was another way and it took me years to discover it on my own. Because you've read these real estate investing tips you can not claim ignorance.
* Real Estate Investing Tips #5
Make Offers. All the studying, looking and analyzing real estate investment property is a complete waste of time if you are not making offers. If you want to be a real estate investor you have to buy property. If you want to buy property you have to make offers. It is as simple as that. If you are looking for a system that can automate your buying business and analyze properties, make offers, and print all of the necessary documents in less than 5 minutes check out this automated system.
* Real Estate Investing Tips #6
Accept responsibility for your success! I see people all the time who think they need to do just one more thing before they can be successful. They can't buy a house until they take another course, get a partner, set up an LLC, or have $1,000 in the bank. It's human nature to make excuses and procrastinate. You will be successful the minute you decide that you are going to do whatever it takes. There are only two things in life results and excuses!
* Real Estate Investing Tips #7
Make a commitment and keep it. Whether you are looking to buy your first investment property or you want to buy 2-3 properties per week your success will be determined by the regular actions you take. Committing as little as 1 hour per day or 4 hours every Saturday MAKES a huge difference in your success. Most people have plans to do something but never actually do it. Make your commitment to do something daily or weekly, then do it, and your success is guaranteed.