You’re not alone! Almost all real Estate investors needed to spend hours at the start of their careers exploring. While There’s no single right answer for everyone, there are three key questions each potential investor needs to ask:
- How much do I have to invest?
- Money that is how much do I have to invest?
- Just how FAST and BIG do I need my Business to grow??
A way is By with an END Goal in mind laying a strategy out! Even if you must make changes along the way – that you will, the getting there is a terrific part of the fun. Real estate investing can do Anything from figuring out how to place a fast (in 30 days, or less) EXTRA $5,000 in your pocket each month, to making all of your financial dreams come true with an yearly after-tax income in Millions of Dollars. You need to put some cash in your pocket, or merely to decide upfront, if you’re searching for the standing.
No Matter your dreams and If you will be successful, desires you will use we think there are three principles you must follow. Here they are:
If You’re currently looking for a long-term Commitment to this company, then you want to establish up-front you will have to set-aside some cash from each one of your transactions/deals to re-invest on your education, and it is most likely in your best interest to begin with a single strategy and be ready to switch to another strategy after these goals are satisfied. For Example, let us say you Ultimately need to be a programmer (like Donald Trump, or Sam Zell, or Trammell Crow), but now you are employed and are $50,000 in debt. Your first step may be to generate quick cash during the next year to pay back the debt, then half way through making this happen (say in month six) start the process of implementing a plan to generate enough income from the real estate investing to leave your work, then when you have created a stable base (enough to cover bills and then some) out of your investment action, to begin a plan to be a developer. Together, this may require three strategies that are unique.
The second thing is that you learn by doing! We know there are a good deal of late-night infomercials that say Come to our FREE seminar, spend $5,000, and tomorrow you will wake up a Millionaire – but the problem is we’ve never seen anyone who will admit that this really worked. Additionally, there are those who spend good money going to school, or grad school and study the best way to succeed in real estate, and by and large, this may work, if you then go on to dedicate to 25-40 years working as an employee of a real estate company, making someone else rich – if you’re fortunate enough, you might learn, enough (over time) and then go on your own.