Eight Tips For Launching Your Real estate investment Career

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Eight Methods for Getting Started in Real Estate Investing


Advantages and drawbacks just the basics for getting started in real estate investing. This is not a how to article but an article that gives you the lowdown about things to do to get going. Everything in this article is tools that could be applied to helping anyone get started in real estate investing. I am going to offer you my eight keys to getting started. Nothing is wrong or right but reflects the aim of view of the author. Laws and legal practices change from state to state, and laws can change over time. The author does not vouch for the legality of his opinions, neither is there any intent to supply legal advice. The author strongly encourages the reader to consult with professionals plus an attorney prior to entering in any real estate transaction or contract. The article author is not a writer but he or she is a real estate investor. There will be grammar mistakes and errors, so avoid being too critical of the grammar but focus your efforts on what is being said. That being said prepare yourself to think a bit differently and expand your brain. Let's get started on an amazing adventure.

The Eight Tips are as follows

1. Desire
2. Goal setting techniques
3. Learning What direction to go
4. Attending a Real Estate Investing Seminar
5. The Billings Montana Market
6. Finding a Mentor
7. Your Real Estate Team
8. Function IT

1. Desire

Prior to getting in to the bolts and nails of real estate investing in I want to speak to you about desire. When you are planning to be successful at anything in life including real estate investing you have to have the desire to do it. Desire is understood to be longing or craving, for something that brings satisfaction or enjoyment. Desire stresses great and bad feeling and often implies strong intention or aim. In tangible estate investing without a desire to learn and also be as a human being and incredibly get satisfaction from the, then real estate investing will be hard to do. When I go out and look at a property it brings me a lot of enjoyment. Every brings me joy from talking to home owners, figuring out how I can make a deal work, to buying the house and to finding a good homeowner or tenant to the house. Real estate investing is probably not for everyone but real estate investment can offer anyone the financial freedom we all crave for. Unless you have the desire for real estate investing that is ok, it might still help you to live your dreams and help you to get in which you want to go in the future.

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Why is real estate investing a wonderful avenue for anyone to reside out all of their dreams? Allow me to ask you a few questions. Are there enough money to do anything you want? Do you have everything you want? No debt? A pleasant house? Great Marriage? The liberty to do anything regardless how much it costs as well as the time it takes? For those who have all of these things then you're one of the few people in America who does. Most people may be working fifty hours every week and making just enough to pay their bills. In the current day and age most people are living pay check to pay check never really knowing should they will make enough to pay for the bills that just keep piling up. If you cannot keep up with your monthly bills how are you going to plan for retirement or send your children to college or have time and energy to enjoy life. The answer to all of these questions is becoming financially free. Now you won't be easy everyone must get off the couch and from their comfort zone. Real estate is known as one of the fastest methods for getting your out of the corporate jungle of the nine to five and initiate living the life you deserve to live. Everyone wants something more important out of their life. Some desire traveling the world, spending additional time with family, volunteering, golfing, laying on the beach, giving time for the community, or any situation that will make them happy. There are thousands of things that make people happy.

Rendering it in real estate needs a person who has a strong want to change their lives for that better and think big. Everyone can become a great real-estate investor. It is going to require a lot of work and could be a struggle at times however in the end it will be the most amazing feeling ever. People that make it in real estate investing all have a few things in common. First they run their real estate business like any other business out there. Second they just go and network with anyone everyone. Some people might be just like me and have a hard time actually talking to other people. If you are that is certainly ok, anyone can learn how to become a people person, it merely requires hard daily work. You must push yourself past your comfortable zone. The third thing is that you cannot be afraid to fail. Everyone has failed at something nevertheless the most successful people out their study from their failures. Your fourth thing is that you have to put a good team together. Let me go into putting a team together in a later chapter. The concept of putting a team together is indeed that when you don't know something you have team members that get sound advice and can help you with questions. The also can make sure that you are not working you to ultimately death. You do not want to be the person doing all things your business. Doing it is all totally a receipt for failure. You need to put together good people who you can trust and depend on. The fifth thing is that you simply need a mentor. Sixth and final will be the desire to do it. No one can become successful at something whenever they don't want to do it and get satisfaction away from what they are doing.

2. Goal setting

Having goals is among the most important aspects of achieving what you need in life. You don't want to just have your goals up in your brain you want to write them down and past everything you have wrote on the wall somewhere or in the toilet mirror. You want to research your goals daily and read them out loud to yourself. This way you remind yourself everyday your reason for building your business.

How should you start to write down you goals? To begin with you should think big, and also by big I mean HUGE. If your goals are too small you may easily achieve them and possess nothing else to look forward too. You probably should start off by questioning the question if I had the money and time in the entire world what would I do, what might I buy, how would I spend my own time, and how would I spend my energy. Are you currently starting to write these down? You should be. Think about what you need, spending time with family, traveling the world, the best cars, a castle, having a small country, running for president, getting the biggest real estate investing business in the area or in the country. Whatever your dreams along with what you want out of your life, jot it down. Some of my goals are getting to be free, traveling the planet, having a Ferrari, having 10 vacation homes all over the world. Right now I'm just trying to get you out of your comfort zone of thinking and allow imagination run.

There are many ways to set goals. I've learned a lot of ways you'll be able to set you goals and there's right or wrong way. The top ways that I have found to put your goals is to break them up into two categories. First your short term goals. This should be goals from your month out to around per year. The second is your long lasting goals these goals are you think big goals along with what you see for your future.

For year one I like to first make a list products I want to achieve this year and I will give you an example of how to do that. For year one you need to be very specific initially you want to list what you look for your income to be at the end of the year, next how much cash in the bank you want (that is money in your checking account, not assets). Next you want to list how much you are going to give. Giving is a very important, this can be giving to charity, giving of gifts to friends, giving to your school or what you can dream of. As long as what you give brings joy to others who need it greater than you. Next list what undesirable habits you have that you want to reduce. Weather is be stopping smoking, spending too much on junk, drinking a lot of, working too much, not spending plenty of time with family, excessive TV, not exercising and many more. We all have bad habits that must be changed in order for use to grow as human beings. Under all these bad habits list out some steps that one could take in order to quit them. In the event you bad habit has lazy and not exercising enough what else could you do to change that. You can get a gym membership or perhaps a home work out program. Dedicate yourself you following through having a plan to work out 3-5 days a week. For you to change these behaviors you have to be totally committed and stick to a detailed plan you place for yourself. After you have your plans in position you should start listing a number of things you want to achieve or do within the next year. This can be take up a successful business, hang out with family, travel to 2-5 places etc. Now under each one of these you should also write an in depth plan on what you need along with what you need to do in order to achieve these goals. Finally you need to take all of this information you've got a write on page on what you see your life being within the next year. Doing this is a good exercise to really see what you look for out of life.

Goals Year One

This is exactly what I am going To Do This Year
Income: $500,000
Cash: $100,000
Give: $20,000

Behaviors that will be changes:

Over Sleeping 1. Go to sleep at 11 p.m. 2. Make use of a timer and set it for 8 hours 3. Set the timer on the reverse side of the room

Buying items that you don't need: 1. Going shopping less 2. If you have the urge to buy something think to yourself is thing item likely to help me to achieve my goals to become financially free? 3. Tell friends what you're doing, so they can help to keep you.

What I want to Achieve:

Begin a successful Real Estate Investing Business: (you need to write a detailed step by step plan of everything you need to have your goal)

Travel: Where should i want to visit? 1. Gators football game (what I need to do it, money, etc)

And last your own personal page about what you want to achieve using words like I'll and only positive words.

For lengthy term goals you don't need to be as specific at this time, but you should list them and under them list several steps or smaller goals that ought to be achieved before you are capable to achieve them. With all the long term goals always think big. Another good exercise for long term goals is usually to make a collage person goals. Put photos of the house you want about it, places you want to travel, a picture of your family, a number of what income you need in or what you can think of.

3. Learn

Knowledge builds confidence and destroys fear. If you're starting any kind of business you have to learn the ins and outs of that business. The most effective way I have found to learn about property investing is to read all about it. But once you know it you have to apply what you have learned. Learning and reading is step to take. There are lots of books on the market about property investing and everyone has something you can learn from. You do not just want to read real estate investment books though. You also want to fill yourself with motivational and leadership books. Every successful individual that I know if a reader plus they all spend at least thirty minutes a day reading something will teach them about improving their business or helping themselves to become a better person. Some of the best books that I would recommend reading are listed below.

1. Rich Dad Poor Dad by Robert Kiyosaki (read this first and also ready everything in the rick dad poor dad series, great books first of all and will expand you mind)
2. Certainly be a Real Estate Millionaire by Dean Graziosi
3. Flip your path to financial freedom by Preston Ely (this is an E-Book)
4. Four hour workweek by Timothy Ferriss
5. The Attractor Factor
6. Short Sale Pre-foreclosure Investing by Dwan Bent-twyford and Sharon Sestrepo
7. Secrets to success, by Napoleon Hill
8. Of the same title by Napoleon Hill
9. How you can win friends and influence people
10. Any Book by John C. Maxwell (he has tons of amazing leadership books)
11. Producing Real Estate Day Trading by Larry Goins
12. The E Myth by Michael Gerber
13. How you can be a quick turn real estate property millionaire by Ron Legrand
14. The Power of Full Engagement
15. The It Factor
16. Anything by Anthony Robins

You will find lots more you can read these will give you a great start. Its also wise to read books on negotiating, sales, motivation, and biographies on American business people.

I hope this list provides you with the knowledge it has given me. If you learn and apply what you have learned from these books there is absolutely no reason that you should not become successful.

4. Attend an actual Estate Investing Seminar

Attending a Real Estate Investing Seminar can be one of the best places to learn about real estate investing from some well known experts. There are numerous seminars going on nationwide every weekend. If you live in a big city it'll be very easy to find one. If you reside in a town like Billings Montana you might need to travel a little ways to find one. Now a lot of the best meeting charge a small fee to attend them. Some range between five hundred dollars for three days and several can be up to $20,000. There are many that I would recommend. Than Merrill is a great speaker to go hear. We've learned a ton from him. You can find his company online by Google searching him. Also rich dad poor dad has seminars nationwide. I attended among their seminars in Billings Montana for only $500 dollars and learned a ton from it. There is also Preston Ely, Larry Goins, and countless speakers out there. If you realise a great book that you really enjoyed, then just simple seek out that person online and determine if they are speaking somewhere or give you a seminar close to you.

Another excuse I recommend going to a seminar is that they get you pumped up and motivated. I haven't yet found other things that just gets you feeling like you can do anything. When you are getting back from one of these seminars you will possess tons of energy and data. Every time I get back from one all I want to do is going out and execute a deal or ten.

These seminars will also provide you with several opportunities to purchase amazing real estate tools, software or learning material in a fraction of the cost. Remember that when I tell you each of the low priced seminars try to sell you something. But many of times what they are trying to sell is some really good stuff.

One other reason to attend a seminar is to network with other investors and make relationships with them. It is possible to meet other investors which team you can partner with on a deal, sell a deal too, people who gives you deals and so on. You have to have hundreds of business cards comprised and try to give them full-scale. You never know how much one card you hand out can make you.

5. Learn About the market in your area

Most property investors start their career off my investing around their current address. This is why I do my real estate in Billings Montana. You are able to venture out when you have more experience. The real reason for this is because we feel more comfortable with the areas and know the areas better. It's also easier to get local real estate information that we need. Buying your local market is also cheaper to start, there is less travel costs, you can view what you are buying and it may give you a feeling a comfort.

Firstly you have to decide which section of town is the best spot to invest in. This can be driven by what kind of real estate investing you choose to do. I have not gone over the kinds of real estate investing but some include rehabbing (upgrading and selling), wholesaling (finding deals and selling them to other investors), buying to lease, and there are a few others. Fundamental essentials real estate strategies i use for the most part. When thinking about the market you need to see where other investors are buying their houses. Most of the best prices will be found in low to middle-class neighbors hoods. By low I can't mean drug infested war zones, what I mean is blue collar safe neighbor hoods which may have somewhat older houses and houses which are not on the higher end price side. It's simple to find deals in the larger priced neighbor hoods but many will be in the low to middle income neighborhoods. Acquire the best where others are buying ask local realtors, other investors or appraisers.

When you first speak with investors question them several questions including what neighborhoods they prefer, what type of houses they buy (3 bed 2 bath), and what they do (rehab, rent, wholesale). It's not necassary to look at other investors as competition but attempt to work with them.

There are different types of markets including appreciating markets, flat markets, and deprecating markets. Appreciating investing arenas are markets that there is no enough houses or even a very high demand for houses which causes the price of houses to increase. The reason there is a sought after demand for housing could be because of job growth, an extremely appealing area, or several reason. Flat financial markets are markets that have no or little or no growth. This means that there's not a lot of demand; buy just enough to fill every ones needs. Depreciating financial markets are where there is a lot more houses than visitors to fill those house. This will cause house prices to start out going down. This can be because of a large employer leaving the spot, a natural disaster or maybe over building. There is an old saying buy within a bust and sell within a boom. In depreciating markets you'll be able to pick up several deals, while in appreciating the house cost is going to be much higher and harder to discover great deals. The deal is still out there you just have to know where to locate them.

Learning your market is another key to success. Real estate Brokers and experts in the area can be the best source of information for you. Learn to make use of them to find out what kind of market you're in. If you are in Billings Montana we are in a pretty stable market. Billings Montana hasn't seen the pros and cons that other markets have seen. I will have to say which i have been noticing some a downward trend but not much. Once the first time home buyer credit is over with we would see a little more decline. Every market can differ by neighborhood, so be sure to know you market well. I have come across the same houses just one single mile apart selling for many different prices.

6. Find a Mentor

Having a mentor to assist you can be your biggest chance to learn. Mentors can help you with any queries you may have, walk you in depth through the investing process, offer you moral support, you study from their proven system, plus network you web-sites in the business. Every successful real-estate investor that I know says they owe lots of their success on the mentors they have coupled with in their lives. I've had one of the best mentors around, my dad. He is teaching me a new challenge every day and pushing me to become successful.

When trying to locate a mentor I would suggest network with all the investors at your local real estate investors club meeting. There's a real estate investing club in Billings Montana that meets once a month. You can find specifics of real estate investing clubs locally by searching for REA or property investors club then your area on the internet. When you go to the meetings request information from who the biggest investors are. Then find out if you could get together with them sometime and discuss real estate investment. Ask them if they would consider dealing with you to get their career going. Offer the services you provide as a bird dog. Bird dogs are people who go out find deals or leads about deals and give them to other investors. A bird dog gets from $500 to $3000 dollars based on the deal. Make sure that you use a bird dog contract signed using the investors saying that if you learn them and deal plus they buy it that you get paid a certain amount of money. Being a bird dog allows you build credibility together with the investor and they are more prone to mentor you when you have something to offer them. If you would like to contact me having a question go to my internet site Big Sky Property Solutions LLC.

7. Your Real estate property Team

Building a highly effective team can make your daily life as a real estate investor easier. You are only one person and can't do everything or be a specialist in every aspect of real estate investing. Going at a project alone may become one of the most frustrating experiences you may ever encounter. Many people have become frustrated and quite property investing because they try and juggle a lot of things. Make sure that when locating a team together you provide everyone with win-win opportunities. If somebody knows that working with you will make them money they are going to put you as a higher priority on their own list. But you need to prove it for them that you are the real deal.
Individuals to have on your property investing team include

o Real estate professionals ( find the top agent for amount of sales in your area and other agents who use real estate investors)
o Real-estate appraisers (find an appraiser that has done a few hundred jobs or maybe more and make sure they carry errors and omissions insurance)
o Real estate contractors (good rehab crews that could get the job done in a timely manner, have 3-5 crews as well as on every deal get 3 estimates done. Obtain referrals from them and make sure they are licensed)
o Real estate property attorneys (every investor needs a legal professional, they can help to protect your assets, be sure you find one that works with investors)
o A property management company (can manage your properties and definately will give you leads on property these are managing that might surface for sale)
o Title companies (keep up with the legal process and be sure there are no liens against the property you are buying, choose one that does countless closings a year)
o Home inspectors(charge about $400 and often will give you a great inspection and could save you thousands in the end)
o And your Mentor

These people can help you in various aspects of real estate investing. You will probably find that there are a couple others which might be keys to your business however this is just a list of a couple of.

8. Just Do it

There is no better phrase around then JUST DO IT! Once you have learned all you can networked with investors in Billings and learned real estate strategies there is nothing left to accomplish but get your feet wet. There is no better learning tool around then doing a deal. Once you have completed that first deal you should understand what to expect and find out that it's not as hard when you thought it would be. You should have learned what you did right as well as what was frustrating. Take that experience and ask yourself what might have made it run smoother. Apply that in your next deal. Then your next deal will probably be easier and it just get easier as you go. I'll say that every deal is different from the last but that why is this business fun. You have to be creative and always carry on learning and growing using your business.

The average person never uses the things they learn. Don't be average apply your knowledge. When going out and doing your first deal behave like you have done 1000's of deals. The quickest way to change a pattern is to act like it is true.

Five keys for success
1. Specialized Knowledge
2. Tools of a professional
3. Have the mindset of a winner
4. Mentors
5. Money and the knowledge of leveraging it (it's not necessary to have millions to purchase real estate, there are many strategies on the market to use other people's money, or nothing at all)