Eight Tips For Launching Your Real Estate Investing Career

Eight Tips for Getting Started in Real Estate Investing

Introduction

This article is just the basics for getting started in real estate investing. This is not a how to article but an article that gives you some information about things to do to get started. Everything in this article is tools that can be applied to helping anyone get started in real estate investing. I am going to give you my eight keys to getting started. Nothing is right or wrong but reflects the point of view of the author. Laws and legal practices vary from state to state, and laws can change over time. The author does not vouch for the legality of his opinions, nor is there any intent to supply legal advice. The author strongly encourages the reader to consult with professionals and an attorney prior to entering in any real estate transaction or contract. The author is not a writer but he is a real estate investor. There will be grammar mistakes and errors, so don’t be too critical of the grammar but focus your energy on what is being said. With that said prepare yourself to think a little differently and expand your mind. Let’s get started on an amazing adventure.

The Eight Tips are as follows

1. Desire
2. Goal Setting
3. Learning What To Do
4. Attending a Real Estate Investing Seminar
5. The Billings Montana Market
6. Finding a Mentor
7. Your Real Estate Team
8. Just Do IT

1. Desire

Before we get in to the bolts and nails of real estate investing in I want to talk to you about desire. If you are going to be successful at anything in life including real estate investing you have to have the desire to do it. Desire is defined as longing or craving, as 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 is going to be hard to do. When I go out and look at a property it brings me a lot of enjoyment. Every aspect 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 for the house. Real estate investing may not be for everyone but real estate investing can offer anyone the financial freedom we all crave for. If you do not have the desire for real estate investing that is ok, it can still help you to live your dreams and help you to get where you want to go in the future.

Why is real estate investing an amazing avenue for anyone to live out all of their dreams? Let me ask you a few questions. Do you have enough money to do anything you want? Do you have everything you want? No debt? A nice house? Great Marriage? The freedom to do anything regardless of how much it costs and the time it takes? If you have all of these things then you are one of the few people in America who does. Most people may be working fifty hours a week and making just enough to pay their bills. In today’s 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 piling up. If you cannot keep up with your monthly bills how are you going to plan for retirement or send your kids to college or have time to enjoy life. The answer to all of these questions is becoming financially free. Now it’s not going to be easy everyone will have to get off the couch and out of their comfort zone. Real estate is proven to be one of the fastest ways to get your out of the rat race of the nine to five and begin living the life you deserve to live. Everyone wants something different out of their life. Some dream of traveling the world, spending more time with family, volunteering, golfing, laying on a beach, giving back to the community, or anything that will make them happy. There are thousands of things that make people happy.

Making it in real estate takes a person who has a strong desire to change their lives for the better and think big. Anyone can become a great real estate investor. It is going to take a lot of work and can be a struggle at times but in the end it will be the most amazing feeling ever. The 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 out there. Second they get out there and network with anyone and everyone. Some people might be like me and have a hard time talking to other people. If you are that is ok, anyone can learn how to become a people person, it just takes hard daily work. You have to push yourself past your comfort zone. The third thing is that you cannot be afraid to fail. Everyone has failed at something but the most successful people out their learn from their failures. The fourth thing is that you have to put a good team together. I will go into putting a team together in a later chapter. The concept 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 can also make sure that you are not working yourself to death. You do not want to be the person doing everything in your business. Doing everything is a receipt for failure. You have to put together good people who you can trust and rely on. The fifth thing is that you need a mentor. Sixth and final is the desire to do it. No one can become successful at something if they don’t want to do it and don’t get satisfaction out of what they are doing.

2. Setting Goals

Having goals is one of the most important aspects of achieving what you want 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 the wall somewhere or in the bathroom mirror. You want to review your goals daily and read them out loud to yourself. This way you remind yourself everyday why you are building your business.

How should you start to write down you goals? First off you should think big, and by big I mean HUGE. If your goals are too small you will easily achieve them and have nothing else to look forward too. You should start off by asking yourself the question if I had all the money and time in the world what would I do, what would I buy, how would I spend my 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 world, the best cars, a castle, owning a small country, running for president, having the biggest real estate investing business in your area or in the country. Whatever your dreams and what you want out of your life, write it down. Some of my goals are becoming free, traveling the world, having a Ferrari, having 10 vacation homes all over the world. Right now I am just trying to get you out of your comfort zone of thinking and let your imagination run.

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

For year one I like to first make a list of what I want to achieve this year and I will give you an example of how to do that. For year one you want to be very specific first you want to list what you want your income to be at the end of the year, next how much cash in the bank you want (this 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 and family, giving to your school or anything you can dream of. As long as what you give brings joy to others who need it more than you. Next list what bad habits you have that you want to eliminate. Weather is be quitting smoking, spending too much on junk, drinking too much, working too much, not spending enough time with family, too much TV, not exercising and many more. We all have bad habits that need to be changed in order for use to grow as human beings. Under each of these bad habits list out some steps that you can take in order to quit them. If you bad habit is being lazy and not exercising enough what can you do to change that. Well you can get a gym membership or a home work out program. Commit yourself you following through with a plan to work out 3-5 days a week. For you to change these bad habits you have to be totally committed and follow through with a detailed plan you set for yourself. After you have your plans in place you should start listing several things you want to achieve or do in the next year. This can be start a successful business, spend time with family, travel to 2-5 places and so on. Now under each of these you should also write a detailed 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 have a write on page on what you see your life being over the next year. Doing this is a great exercise to really see what you want 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

Bad Habits that will be changes:

Over Sleeping 1. Go to bed at 11 p.m. 2. Use a timer and set it for 8 hours 3. Set the timer on the other side of the room

Buying things that you don’t need: 1. Going out shopping less 2. If you have the urge to buy something think to yourself is thing item going to help me to achieve my goals of becoming financially free? 3. Tell friends what you are doing, so they can help to stop you.

What I want to Achieve:

Start a successful Real Estate Investing Business: (you should write a detailed step by step plan of everything you need in order to achieve your goal)

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

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

For long term goals you don’t need to be as specific right now, but you should list them and under them list a few steps or smaller goals that need to be achieved before you are able to achieve them. With the long term goals always think big. Another good exercise for long term goals is to make a collage of you goals. Put pictures of the house you want on it, places you want to travel, a picture of your family, a number of what income you want in or anything you can think of.

3. Learn

Knowledge builds confidence and destroys fear. If you are starting any kind of business you need to learn the ins and outs of that business. The best way I have found to learn about real estate investing is to read all about it. But once you know it you have to apply what you have learned. Learning and reading is just one step to take. There are thousands of books on the market about real estate investing and everyone has something you can learn from. You don’t just want to read real estate investing books though. You also want to fill yourself with motivational and leadership books. Every successful person that I know if a reader and they all spend at least thirty minutes a day reading something that 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 to start with and will expand you mind)
2. Be a Real Estate Millionaire by Dean Graziosi
3. Flip your way to financial freedom by Preston Ely (this is an E-

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The Keys to Success to Investing in Real Estate

Most real estate professionals flunk within the first few months of trying to create a business enterprise out of real estate investing. The trick begins with a beneficial marketing plan and then practicing a disciplined effort to the marketing plan on a even basis. There is a lot more required to succeed, and you will encounter more tips, tricks and unique real estate marketing techniques in this article.

Is there anyone in your town that doesn’t recognize that you buy homes or that you are a real estate professional? If so, you aren’t performing as well at marketing or rendering real estate investing information about your real estate investing business enterprise as well you could be. I find out real estate investors telling all the time that they aren’t receiving seller phone calls and subsequently aren’t receiving the leads they need to find the real estate business deals they require to earn a living. I say increase the marketing and the sellers will Call. Not only that but if you are canvassing the world (or at least your area) that you buy problem real estate holdings, eventually you will be acknowledged for what you do and sellers will telephone you strictly on your reputation. this is what is called cost effective marketing.

One real estate professional was in a home, garden and hardware store a few calendar weeks ago and went past a couple of guys in an aisle. A conversation was heard while he walked by, I overheard one state, “That is the real estate man”. Now I had never known either of those men and have no idea who they are but that experience lets me acknowledge that I must be doing my business at letting the world to recognize my business is buying real estate in that area. There are many ways to let the area know that you are in the real estate investing profession and getting information out there that helps people realize you buy foreclosures, distressed real estate, do real estate short sales and have got a lot of real estate information and experience to flip properties. Some methods are cheap and some are more expensive. You are going to have to attempt many things and acquire a feel for what brings about for you the best results in your region to get the calls you require to transact real estate deals. I have tried many forms of marketing methods for real estate commercial enterprises of all varieties and have come back to a few that consistently create enough leads for me to purchase the 2 or 3 real estate holdings and houses I want to purchase every single calendar month. They are as follows:

Classified Ads

The classified advertisement in the most prominent newspaper in the region is by far the heaviest producer of leads for local real estate investors that I have determined. I understand it is costly and I understand there are instances it does not generate phone calls but if you are going to persist in the real estate investing business sector just place it in there and leave it. Get used to it making up part of the toll of performing the real estate business. You may expend about $350.00 a calendar month for my 4 line ad and that is the commercial range. I’d consider running it 365 days a year to constantly cue everyone that you are a real estate professional and you purchase real estate in their region.

Over the past few or so years I have watched many “real estate investor” ads come and go. Most folks put them in for a many or even just a couple of calendar weeks and then remove them or try just placing them in on the week ends. Real Estate Marketing just simply does not work this way. Put your real estate ad in the paper and leave it in there. It will more than make up for the price, trust me, and you will see after you finish your first deal. If you are distressed because there are real estate investors ads from many other investors in there, don’t be. They are there because they are getting responses. Just be sure to and actually answer your cell phone and keep it on all the time otherwise you’ll be squandering money.

When a fresh ad for real estate investor information shows up in my newspaper, I will always call on the advertisement. 9 times out of 10 I get a message device or answering service. This is a significant turn off to somebody who needs a resolution to their real estate trouble now. They want to speak to a person who can quiet their anxiety over their current issues with their home and tell them everything is going to be ok. Your answering device won’t do that, they need a human being. As for what to put in the advertising, you will have to work on this one. I have tried various idea and the one I have now hast not changed for over 4 years. I haven’t switched it because I get responses. My ad is:

We Pay CASH FOR HOMES In 24 Hours! Any area, price or condition Call xxx-xxx-xxxx

Now I have had other real estate professionals jockey for place and interchange their ad copy to be leading of mine in the column but it has not made whatsoever difference, at least as far as I can discern. Don’t worry about those things, just get the advertising out there and leave it. It could possibly take a bit of time, perhaps a several weeks to get going but sellers will telephone. As soon as you have your classified advertising running, then you should start working on your other marketing techniques right away. If you only go through one idea a week, within a few weeks or a couple of months you will have a significantly powerful real estate purchasing process.

Ads in the “Freebie” Papers

You might also run advertisements in the freebie papers in your local region or the region you want to conduct real estate investment deals. These are the “Thrifty Nickel”, or whatever they are named in your region. We run both a column ad and a display in this newspaper and expend about $175.00 or so a calendar month for these ads. They pull in seller leads reasonably well and have always rationalized the costs. Remember that these guys are usually open to talking terms on your rates and you will probably get a better rate if you commit to a longer advertising agreement.

Bandit Signs or Road Signs.

Bandit signs are great. They are some of the best lead producing tools around. I have yet to put out a bunch and not be bombed with calls right after I arranged my marketing. I just don’t position them out that often. I might place out a few to a half dozen or so a calendar month and the ones that continue and don’t get taken down continue to pull in phone calls. At an average price of less than $4.00 per sign, they are one of the greatest real estate marketing and advertising values available. Check the net for sign manufacturers for discount signage costs. I use 18 x 24 signs and set them at high traffic crossings around the town I wish to purchase houses in.

I also position a sign in the front yard immediately after purchasing any house. I have purchased several homes in the same regions as a result of marketing this way.

You can either use wood stakes or the wire stakes with your signs. I like the wood stakes because they do not bend like the wire ones, in addition, they are more less expensive and you can find just about any reasonably sized stick of wood or stake at your local hardware store for a really good value. Just get long lengths and trim down to fit. Then just nail the sign to it with the roofing nails with the orange or green plastic tops or you can use screws. There are many variants on what the wording on the sign can say. Keep in mind that traffic will be moving so you want to keep your message short and simple so it may be read. Plus your telephone number must be big, large and easy to read.

If you search the sign advertisement content, you will discover that it is same resemblance my paper ad. I like to brand my advertising because I believe that helps with identification that is probably why the two guys noticed me as a Real Estate Professional..You want to have contrast, so a white sign with dark blue letters usually is the best draw. Some folks swear by black on yellow or black on orange. Again, I say it’s not what or how you say it rather simply that you’re out there marketing and placing out signs that counts. You’ll build a ‘brand image over time if you stay logical with your real estate marketing endeavors. When dealing with bandit signs, be sure that your local code enforcement laws are aware of them. In some areas or counties they can lax on them but a few miles down the road in another county or city, they can be super strict and will ticket you in a minute, pull the signs down and lead off looking for your next posters to go after you again. Some retail merchants in high tax areas can’t put out any A board signage without having them sized and then fined.

Flyers and Bulletin Board Postings

Flyers and related collateral are another cheap way to get the word out that you are a real estate investor buy property, foreclosures or distressed properties. Just create a flyer with any one of the free on-line flyer software internet sites telling people that your are a real estate investor and how to get in touch with you. Make copies for few cents apiece and you have some really inexpensive real estate marketing and advertising. It really is that simple. Then place these flyers on every bulletin board in your Town or region you would like to buy your property, foreclosure or distressed home.. I also recommend that you place some of them in those plastic sheet shielders so the rain won’t ruin them and put them up on phone poles around neighborhoods I like to buy property in.. While not as prominent as the bandit signs, on poles actually in the neighbourhood they still attract phone calls. I carry a file with me in my automobile and put them up whenever I stop at a grocery store or major discount shop or really wherever. Some of the other area to put them are:

· Laundromats
· Taped to the inside of telephone Booths.
· On the counter of any business organization that will let you place them at.
· Bulletin boards at any local or major rebate store (lots of traffic)
· Grocery store bulletin boards
· Fax to Mortgage agents, call first
· Fax to Real Estate Agents, call first and they may get a lot of these.
· Take them Door to Door in target regions

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