To succeed as a Real Estate Investor, is not too hard. Just be consistent to boost your real estate investing business.
As real estate investors, we are surrounded by noise in this industry. We have YouTube, blogs, podcasts, investor forums, and real estate meetings in our towns or meetup groups.
Every one of these marketing channels has its own goals and agenda that can distract us from our personal business goals. Consider the case of one real estate investor. He faithfully attended real estate meetings in Houston. The local business clubs had presenters every month, and the group members discussed different real estate topics.
One month, everyone was talking about wholesaling houses and how to make $10,000 per deal. The next month, discussions focused on fixing and flipping houses, with people claiming to make $25,000 or more per deal.
The following month, rental properties were the hot topic. Rental properties could help you create long-term wealth.
Then in quick succession, subject-to deals, owner-finance homes, apartments, mobile homes, note-buying, AirBnB rentals, investing in unimproved land, and so on. You get the picture.
The topics covered are all well and good, but the constant leaps from one to another rattle your brain and make you lose focus. Our investor started thinking he would wholesale houses. He spent hours reading blogs, listening to podcasts, and watching YouTube videos. He invested in an online course.
The next month, hoping to make more money, he thought flipping houses. Again, he repeated all the same steps on this new topic: Yread more blogs, watched more videos and attended another class.
The third month, doubting himself about the time, effort and money he had already invested, he acted on a hunch that note-buying was easier and much simpler. He started all over again.
Does that sound like you? After, perhaps, a year of this constant switching, finally you realize you have spent a lot of time and money and still do not know anything about investing in real estate. Worse, you have not even completed a single real estate investing transaction.
Sadly, many real estate investors quit within six months to a year. They leave the business with higher credit card debt than what they started with, and they never closed a single deal.
Why tell you all this?
To help you avoid being another casualty as a real estate investor.
You know your current situation. Research which investments will be the right for you, and then pick one and ignore the rest, for now.
Become the best at the one investment method you pick. Be 100 percent consistent for at least 12 months. Wait to see great results before branching out from that single method to a new one.
Some investors start with as little as $250 a month to spend towards real estate. By making a commitment to be consistent, to focus on only one strategy at a time, that small investment can pay off.
Commit to one investment — wholesaling houses, for example — and watch your business grow so fast you cannot keep up with leads and the houses. A realistic goal for wholesaling houses might be 35 homes in the first year, all with $250 a month to invest.
Learn to filter the noise. Only read, watch videos, listen to podcasts, and take classes related only to wholesaling houses.
Ignore every other real estate investing technique for one full year. Unsubscribe to all email notifications, podcasts, videos and classes not related to your one investment strategy.
Become the best wholesaler you can be. After you put a year’s worth of great deals under contract, consider branching out, perhaps to fixing and flipping houses.
Now you start again, learning to fix and flip houses for another 12 months, while still wholesaling. Every 12 months, add a new investment strategy to your portfolio.
After several years, examine what works for you and what does not. Perhaps you find yourself wholesaling only a handful of houses a year. Maybe you are mainly flipping house and renting properties. As you acquire new skills, you can pick and choose which investment methods work best for your situation.
Success in this business do not happen overnight, but if you are consistent, you can see great results.
To summarize:
- Pick one real estate investing technique and be consistent every day for one full year
- Don’t waste time and hard-earned dollars but jumping from investing strategy to strategy; pick one and stick to it
- Be consistent with your marketing; create a schedule
- Returns business calls regularly
- Build your team of people to advise you
If you follow these simple steps you will succeed as a Real Estate Investor
As writer Robert Collier said, “Success is the sum of small efforts repeated day in and day out.”
If you follow this advice, you will be completely prepared for a successful real estate investing business. The information in this blog can get you one step closer to your goals, and so can a visit to Smart Real Estate Investing.
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