Taking a Real Estate Investing Program Versus Educating Yourself
We all know people who have bought every book and every tape and attended every seminar to become “Encyclopedias” in real estate investing. But they never do anything with it – bad idea! Because if you don’t put into practice what is taught or heard, you will eventually believe that this real estate thing doesn’t work. Fortunately, history and Forbes Magazine will prove you wrong. Since John Jacob Astor, America’s First Millionaire, bought Manhattan in 1800, more Americans have been able to become rich through real estate investing than any other method. Even those who made their fortunes elsewhere (such as operating businesses) have reinvested their profits in real estate more than any other asset. The best way to learn how to be an investor is to become one. RECAP: Rule number 2: You learn by doing! RULE NUMBER TROIS: START TODAY–RIGHT WHEREVER YOU ARE. Many new investors lie to themselves, saying things like “When you have enough money …”,” or “When you have enough time …”,”. Then they will get started. They are actually saying that they are afraid of failing at the real estate thing. It is a lie. Truth is, almost every successful real-estate investor (including Donald Trump and Sam Zell and Ron LeGrand and Robyn Thomson, and (Place Millionaire’s Name Here),) was terrified to death when they put their first deal together. They did something and moved on. Sir Isaac Newton best described it in his first Law of Motion. “An object in rest tends stay at rest …”. In other words, if you continue doing the same thing you did before, expect the same results. If you want to do something new in your life, then you must “in motion”. The best way to learn about the Real Estate Business is by doing it. It’s time to put aside excuses and “Go In Motion” today. As you go in motion, you must make a commitment that you will continue learning so that you “Stay In Motion”. RECAP: Rule number Three: START TODAY, RIGHT NOW, RIGHT WHEREVER YOU ARE. With these three rules in mind we hope RealInvestorsTM will be a key partner in you success. We want to hear all about your successes, no matter how small or large. We want you to “Go in Motion” “…. Let’s get started… Select one strategy to start. Remember Rule number one: Focus-FOCUS–FOCUS… Do not try to master every strategy before you get started! We can almost guarantee that you will get lost in the maze of information overload and will eventually give up. Find the right strategy for you and learn all about it before you go and do it! You should make a commitment to that strategy for at least 6 months. You should network with other investors who are using the same strategy. Do not quit until either one of these two things happens: either you have no results for 6 months or you close your first deal using the strategy. Don’t let yourself be diverted. It was okay. It was okay. Each sport had its own rules and required a different mental game. You would not have been able to go to the baseball field without a lacrosse stick or shoulder pads. Someone would have asked you to return when you were ready to play. The same applies to investing, especially when you are just getting started. You will one day be able “Play Like Mike”, but for now, as a novice investor let’s keep it mls ottawa One strategy, total focus until you’ve proven it works for you. For most people, this will require a minimum of six months. NEXT STEPS * Regularly read and post in the Real Investors Forums. This will allow you to be exposed to other real estate investors’ issues. These same issues are likely to face you in the very near future. * Real all the Real Investor Articles. This will allow you to expand your knowledge about real estate investing. * Go to the Real Investor Bookstore to find courses that are focused on the one strategy you’ve chosen to start. Don’t buy courses that cover a multitude of strategies before you have done your first deal. * Join your local REIA. You’ll meet other investors, both seasoned and newbies. There will be many opportunities to meet other professionals who may be able provide the services you need as a new investor, such as contractors, real estate agents, mortgage brokers, hard money lenders, etc. You might even find a great mentor! * Invest in your education Participate in any opportunity to learn about real estate investing such as the National Real Estate Investor’s Conference. These events offer invaluable opportunities to network with, learn from, and make deals amongst other experienced real estate investors and scholars. To fill in the gaps between live events, you can look for online classes such as Real Investor’s University.