Tumblelog by Soup.io
Newer posts are loading.
You are at the newest post.
Click here to check if anything new just came in.

February 15 2016

RealEstateNeedham865

Eight Tips For Launching Your Property investing Career

for-sellers2.jpg
real estate needham buy property realtor

Eight Strategies for Getting Started in Real Estate Investing

Introduction

This post is just the basics to get started in real estate investing. It's not a how to article but articles that gives you some good info about things to do to get started. Everything in this article is tools that could be applied to helping anyone begin real estate investing. I am going to give you my eight recommendations for getting started. Nothing is right or wrong but reflects the purpose of view of the author. Laws and legal practices consist of 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 deliver legal advice. The author strongly encourages the reader to consult with professionals and an attorney prior to entering in different real estate transaction or contract. The writer is not a writer but he's a real estate investor. You will see grammar mistakes and errors, so you shouldn't be too critical in the grammar but focus your power on what is being said. With that said prepare yourself to think a little differently and expand the mind. Let's get started on a fantastic adventure.

The Eight Tips are the following

1. Desire
2. Goal setting tips
3. Learning How to handle it
4. Attending an actual Estate Investing Seminar
5. The Billings Montana Market
6. Obtaining a Mentor
7. Your Real-estate Team
8. Just Do IT

1. Desire

Prior to getting in to the bolts and nails of real estate investment in I want to speak to you about desire. If you are going to be successful at anything in everyday life including real estate investing you have to have the desire to do it. Desire is defined as longing or craving, for something that brings satisfaction or enjoyment. Desire stresses the strength of feeling and often implies strong intention or aim. In real estate investing if you don't have a desire to learn and grow as a human being and really get satisfaction out of it, then real estate investing will be hard to do. When I decide to look at a property it brings us a lot of enjoyment. Every aspect brings me joy from speaking with home owners, figuring out how I can make a deal work, to purchasing the house and to getting a good homeowner or tenant for your house. Real estate investing will not be for everyone but property investing can offer anyone the financial freedom we all crave for. If you don't have the desire for real estate that is ok, it may still help you to live your dreams and help you to get where you want to go in the long run.

real estate needham buy property realtor

Why is real estate investing a fantastic avenue for anyone to reside out all of their dreams? Let me ask you a few questions. Are there enough money to accomplish anything you want? Do you have anything you want? No debt? A great house? Great Marriage? The freedom to do anything it doesn't matter how much it costs along with the time it takes? In case you have all of these things you are one of the few people in America who does. Most people may be working fifty hours every week and making sufficient to pay their bills. In the present day and age most people are living pay check to pay check never really knowing if they will make enough to pay the bills that just keep mounting up. If you cannot keep up with your regular bills how are you going to policy for retirement or send the kids to college or have time to enjoy life. The answer to these questions is becoming financially free. Now it certainly can't be easy everyone will need to get off the couch and out of their comfort zone. Real estate is known as one of the fastest ways to get your out of the pit of debt of the nine to five and commence living the life you ought to live. Everyone wants something else entirely out of their life. Some desire traveling the world, spending more hours with family, volunteering, golfing, laying with a beach, giving back to the community, or anything that will make them happy. There are lots of things that make people happy.

Which makes it in real estate requires a person who has a strong want to change their lives for your better and think big. Now you may become a great real estate property investor. It is going to please take a lot of work and is a struggle at times but also in the end it will be the prettiest feeling ever. People that make it in real estate investing all have a few things in common. First they run their real estate investing business like any other business around. Second they just go and network with anyone and everyone. Some people might be just like me and have a hard time talking to other people. If you are that is ok, anyone can figure out how to become a people person, it merely requires hard daily work. You must push yourself past your safe place. The third thing is that you cannot be afraid to fail. Everyone has failed at something but the most successful people out their study their failures. Your fourth thing is that you need to put a good team together. I am going to go into putting a team together within a later chapter. The very idea of putting a team together is so that when you don't know something you have team members that know what to do and can help you with questions. The could also make sure that you are not working yourself to death. You do not want to be the person doing all things in your business. Doing things are all a receipt for failure. You will need to put together good individuals who you can trust and count on. The fifth thing is basically that you need a mentor. Sixth and final may be the desire to do it. It's impossible to become successful at something when they don't want to do it and don't get satisfaction beyond what they are doing.

2. Goal setting tips

Having goals is amongst the most important aspects of achieving what you need in life. You don't want to just have your goals up in your head you want to write them down and past what you have wrote on your wall somewhere or in the lavatory mirror. You want to take a look at goals daily and study them out loud to yourself. In this way you remind yourself everyday why you are building your business.

How in case you start to write down you goals? To start with you should think big, and by big I mean HUGE. If your goals are too small you are going to easily achieve them and also have nothing else to look forward too. You should begin off by thinking about the question if I had the cash and time in the 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 starting to write these down? Well you should be. Think about what you want, spending time with family, traveling the globe, the best cars, a castle, running a small country, running for president, keeping the biggest real estate investing business in your town or in the country. Whatever your dreams along with what you want out of your life, record. Some of my goals have become free, traveling the entire world, having a Ferrari, having 10 vacation homes near disney all over the world. Right now I am just trying to get you out of your respective comfort zone of thinking and allow imagination run.

There are several ways to set goals. I've learned a lot of ways you can set you goals and there's no right or wrong way. The very best ways that I have found setting your goals is to break them up into two classes. First your short term goals. This should be goals coming from a month out to around annually. The second is your long lasting goals these goals are you currently think big goals and just what you see for your future.

For year one I enjoy first make a list of the items I want to achieve this year and i'll give you an example of how you can do that. For year one you want to be very specific is actually a program 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 bank account, not assets). After that 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 family and friends, giving to your school or anything you can dream of. Providing what you give brings joy to others who need it over you. Next list what behaviors you have that you want to get rid of. Weather is be stop smoking, spending too much on junk, drinking an excessive amount of, working too much, not spending the required time with family, excessive TV, not exercising and much more. We all have bad habits that should be changed in order for use to develop as human beings. Under these bad habits list out some steps that you can 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. It's now possible to get a gym membership or a home work out program. Commit yourself you following through using a plan to work out 3-5 days per week. For you to change these undesirable habits you have to be totally committed and adhere to a detailed plan you set for yourself. After you have your plans available you should start listing several things you want to achieve or do within the next year. This can be take up a successful business, spend more time family, travel to 2-5 places and so on. Now under each one of these you should also write reveal plan on what you need and what you need to do in order to achieve these goals. Finally you should take all of this information you do have a write on page about what you see your life being on the next year. Doing this is an excellent exercise to really see what you look for out of life.

Goals Year One

This is 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. Retire for the night at 11 p.m. 2. Utilize 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 out shopping less 2. If you possess urge to buy something think to yourself is thing item likely to help me to achieve my goals of becoming financially free? 3. Tell friends what you are doing, so they can help to keep you.

What I want to Achieve:

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

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

And last your own personal page about what you would like to achieve using words like Let me and only positive words.

For long term goals you should not be as specific right now, but you should list them and under them list a couple of steps or smaller goals that ought to be achieved before you are capable to achieve them. With the long term goals always think big. One additional exercise for long term goals would be to make a collage person goals. Put photos of the house you want onto 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 are starting any kind of business you'll want to learn the ins and outs of that business. The easiest 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 only one step to take. There are lots of books on the market about property investing and everyone has something can learn from. You do not just want to read property investing books though. You also want to fill yourself with motivational and leadership books. Every successful person that I know if a reader and so they all spend around 30 minutes a day reading something that will teach them about improving their business or helping themselves to become better person. Among the best books that I would recommend reading are the following.

1. Rich Dad Poor Dad by Robert Kiyosaki (see this first and also ready all things the rick dad poor dad series, great books first of all and will expand you mind)
2. Be considered a Real Estate Millionaire by Dean Graziosi
3. Flip on your path to financial freedom by Preston Ely (it becomes an E-Book)
4. Four hour work week by Timothy Ferriss
5. The Attractor Factor
6. Short Sale Pre-foreclosure Investing by Dwan Bent-twyford and Sharon Sestrepo
7. Keys to success, by Napoleon Hill
8. Think and Grow Rich by Napoleon Hill
9. How you can win friends and influence people
10. Any Book by John C. Maxwell (she has tons of amazing leadership books)
11. Cleaning soap making Real Estate Day Trading by Larry Goins
12. The E Myth by Michael Gerber
13. The best way to be a quick turn real-estate millionaire by Ron Legrand
14. The potency 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. It's also wise to read books on negotiating, sales, motivation, and biographies on American people.

I hope this list will give you the knowledge it has given me. If you realise and apply what you have learned from these books there is no reason that you should not become very successful.

4. Attend a genuine Estate Investing Seminar

Attending a genuine Estate Investing Seminar may be one of the best places to learn about real estate investing from some perfectly known experts. There are numerous seminars going on from coast to coast every weekend. If you reside in a big city it will be very easy to find one. If you reside in a town like Billings Montana you might have to travel a little solutions to find one. Now the majority of the best meeting cost money to attend them. Some vary from five hundred dollars for three days and a few can be up to $20,000. There are some that I would recommend. Than Merrill is a superb speaker to go hear. We have learned a ton from him. You can find his company online by Google searching him. Also rich dad poor dad has seminars everywhere. I attended among their seminars in Billings Montana only for $500 dollars and learned a lot from it. There is also Preston Ely, Larry Goins, and hundreds of speakers out there. If you find a great book that you will enjoyed, then just simple hunt for that person online and determine if they are speaking somewhere or give a seminar close to you.

One more reason I recommend going to a seminar is because get you pumped up and motivated. I never yet found everything else that just gets you feeling like you can do anything. When you are getting back from one of these seminars you will have tons of energy files. Every time I get away from one all I would like to do is going out and do a deal or ten.

These seminars may also provide you with several the opportunity to purchase amazing real estate tools, software or learning material at a fraction of the cost. Remember that when I tell you all of the low priced seminars sell you something. Many times what they are trying to sell is some really good stuff.

One more reason to attend a seminar is usually to network with other investors and create relationships with them. You'll be able to meet other investors which team you can partner with with a deal, sell an arrangement too, people who will provide you with deals and so on. You should have hundreds of business cards made up and try to give them all out. You never know how much one card you hand out forces you to.

5. Learn About the real estate market in your area

Most property investors start their career off my investing around where they live. This is why I do my real estate investing in Billings Montana. It is possible to venture out when you have more experience. The reason behind this is because we feel more comfortable with the areas and know the areas better. Additionally it is easier to get local property information that we need. Committing to your local market is also cheaper to begin on, there is less travel costs, you can observe what you are buying and it will give you a feeling a comfort.

First you have to decide which part of town is the best spot to invest in. This can be driven by what kind of real estate investing you decide to pursue. I have not gone over the sorts of real estate investing but some include rehabbing (upgrading and selling), wholesaling (finding deals and selling these to other investors), buying to book, and there are a few others. Necessities such as real estate strategies that we use for the most part. When examining the market you need to see where other investors are purchasing their houses. Most of the best money saving deals will be found in low to middle class neighbors hoods. By low I would not mean drug infested war zones, i mean blue collar safe neighbor hoods which may have somewhat older houses and houses which are not on the higher end price side. Anyone can find deals in the bigger priced neighbor hoods but most will be in the low to middle income neighborhoods. When looking where others are buying ask local realtors, other investors or appraisers.

When they talk with investors inquire further several questions including what neighborhoods they like, what type of houses they purchase (3 bed 2 bath), as well as what they do (rehab, rent, wholesale). You shouldn't look at other investors as competition but attempt to work with them.

There are several types of markets for example appreciating markets, flat markets, and deprecating markets. Appreciating markets are markets that there is no enough houses or perhaps a very high demand for houses which then causes the price of houses to move up. The reason there is a popular for housing may be because of job growth, an incredibly appealing area, or several reason. Flat markets are markets that have no or little or no growth. This means that there is not a lot of demand; buy sufficient to fill every ones needs. Depreciating markets are where there is a lot more houses than individuals to fill those house. This leads to house prices to start going down. This can be because of a large employer leaving the location, a natural disaster or perhaps over building. It comes with an old saying buy inside a bust and sell in the boom. In depreciating markets you can pick up several deals, when it's in appreciating the house prices are going to be much higher and harder to discover great deals. The deal it's still out there you just have to know finding them.

Learning your companies are another key to success. Real estate Brokers and experts locally can be the best source of information for you. Learn to rely on them to find out what kind of market you are in. If you are in Billings Montana we are in a pretty stable market. Billings Montana has not seen the good and the bad that other markets have observed. I will have to say that I have been noticing some a downward trend and not much. Once the first time buyer credit is over with we may see a little more decline. Every market may vary by neighborhood, so make sure you know you market well. I know of the same houses only one mile apart selling for completely different prices.

6. Discover a Mentor

Having a mentor to assist you can be your biggest chance to learn. Mentors can help you with any questions you may have, walk you detail by detail through the investing process, give you moral support, you study on their proven system, and in addition network you with others in the business. Every successful real-estate investor that I know says they owe plenty of their success to the mentors they have along in their lives. I've had one of the best mentors around, my father. He is teaching me something totally new every day and pushing me to get successful.

When trying to find a mentor I would suggest network together with the investors at your local real estate investors club meeting. There's a real estate investing club in Billings Montana to suit once a month. You can find specifics of real estate investing clubs locally by searching for REA or property investors club then your area in the search engines. When you go to the meetings check around 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 working with you to get their career going. Offer the services you receive as a bird dog. Bird dogs are individuals who go out find deals or leads about deals and give them to other investors. A bird dog gets from $500 to $3000 dollars depending on the deal. Make sure that you have a very bird dog contract signed with the investors saying that if you realise them and deal plus they buy it that you get paid some money. Being a bird dog helps you to build credibility using the investor and they are prone to mentor you if you have something to offer them. If you want to contact me using a question go to my web site Big Sky Property Solutions LLC.

7. Your Property Team

Building a highly effective team can make your daily life as a real estate investor simpler. You are only one person and should not do everything or be an expert in every aspect of real estate. Going at a project alone may become one of the most frustrating experiences you will ever encounter. Lots of people have become frustrated and quite real estate because they try and juggle too many things. Make sure that when placing team together you provide everyone with win-win opportunities. If somebody knows that working with you will make them money they will put you as a higher priority on their list. But you ought to prove it for many years that you are the real deal.
People to have on your real estate team include

o Agents ( find the top agent for level of sales in your area and other agents who assist real estate investors)
o Real estate property appraisers (find an appraiser which includes done a few hundred jobs or higher and make sure they carry errors and omissions insurance)
o Real estate property contractors (good rehab crews that will get the job done in a timely manner, have 3-5 crews as well as on every deal get 3 estimates done. Ask for referrals from them and make sure they are licensed)
o Real-estate attorneys (every investor needs legal counsel, they can help to protect your assets, make sure you find one that works with investors)
o Home management company (can manage your properties and can give you leads on property they're managing that might appear for sale)
o Title companies (maintain your legal process and make certain there are no liens against the property you happen to be buying, choose one that does a huge selection of closings a year)
o Home inspectors(charge about $400 but will give you a great inspection and might save you thousands ultimately)
o And your Mentor

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

8. Just Do it

There's no better phrase out there then JUST DO IT! Once you've learned all you can networked with investors in Billings and learned property investing strategies there is nothing left to complete but get your feet wet. There isn't any better learning tool on the market then doing a deal. After you have completed that first deal you'll know what to expect and find out it is not as hard while you thought it would be. You will possess learned what you did right along with what was frustrating. Take that experience and ask yourself what would have made it run smoother. Apply that in your next deal. Then a next deal will be easier and it just get easier as you go. I am going to say that every deal is different from the last but that why is this business fun. You have to be creative and always go on learning and growing with your business.

The average person never uses what you learn. Don't be average apply knowing. When going out and doing your first deal become you have done 1000's of deals. The easiest way to change a routine is to act like it is a fact.

Five keys for achievement
1. Specialized Knowledge
2. Tools of the professional
3. Possess the mindset of a winner
4. Mentors
5. Money and also the knowledge of leveraging it (you don't have to have millions to buy real estate, there are many strategies available to use other people's money, or no amounts at all)

Don't be the product, buy the product!

Schweinderl