mine is simple. get a direction or specialty. whether it's something that you know the best, or something that you'd prefer to do most of the time and choose that. then just focus on that. i spent so much damn time trying to read every method of investing and trying to advertise for every method that nothing got done. once my mentor spoke to me, she said "man, you're smart and you're gonna make a lot of money in this, but you gotta decide what the hell you want to do - you can't do it all!". i know that i have this problem and always have - very impulsive, almost ADD like.
but pick your poison and concentrate on that. if you pick short sales for instance, don't pass up on a definite sub to, but concentrate on finishing up your short sales. that's all.
jackman put is loud and clear! You will talk with a lot of people who are successful in a lot of different investing methods, but if you try to do them all, you'll get lost in the mish-mosh. Focus on 1 or 2 ways on investing. Become a Specialist and work your area with tenacity! Pick the area that interest you the most, (subject-to, lease options, short sales, preforeclosures, wholesale, bird-dog, Hud properties, VA properties, Sherrif sales, etc.
Swallow as much information about your specialty area as you can, and then market like crazy to your target area, repeatedly!
goldmine,
Most of my stuff is near you-- in Stockton. Build a team in an area and then start acquiring. In fact, you can build a team as you make acquisitions. You want to leverage off of the abilities of your team so you can "cookie cutter" your acquisitions. Central to my team is my RE agent who has become a very close personal friend.
What you do will depend on your circumstances. I made the decision to put cash out there on my Stockton purchases because I could do it faster and wanted to take advantage of the hot market and very low interest rates.
Additional thoughts--Don't buy negative cash flows. If you can't find positive, look elsewhere. My newest area for investment is in the Midwest.
Your going to hear "NO" a lot more than you hear "YES" but when you walk away with a check for 10k, 20k whatever, all those NOs won't matter
[addsig]
read a book or study a course.
mine is simple. get a direction or specialty. whether it's something that you know the best, or something that you'd prefer to do most of the time and choose that. then just focus on that. i spent so much damn time trying to read every method of investing and trying to advertise for every method that nothing got done. once my mentor spoke to me, she said "man, you're smart and you're gonna make a lot of money in this, but you gotta decide what the hell you want to do - you can't do it all!". i know that i have this problem and always have - very impulsive, almost ADD like.
but pick your poison and concentrate on that. if you pick short sales for instance, don't pass up on a definite sub to, but concentrate on finishing up your short sales. that's all.
i hope i was clear. that was a great question!
Don't put off starting today. That is what I would change know what I know now.
jackman put is loud and clear! You will talk with a lot of people who are successful in a lot of different investing methods, but if you try to do them all, you'll get lost in the mish-mosh. Focus on 1 or 2 ways on investing. Become a Specialist and work your area with tenacity! Pick the area that interest you the most, (subject-to, lease options, short sales, preforeclosures, wholesale, bird-dog, Hud properties, VA properties, Sherrif sales, etc.
Swallow as much information about your specialty area as you can, and then market like crazy to your target area, repeatedly!
Best of success!
BAMZ
Avoid real estate investment analysis paralysis (study courses but can not move off the couch) GET STARTED today!
Eric & Rosa
[addsig]
Thanks guys,
All the tips and advice are eye opening.
I guess that the most powerful words I'm picking up here are the " JUST DO IT! "
Once we pass the "just do it! " stage, then the panic decreases
Keep it coming!!
goldmine,
Most of my stuff is near you-- in Stockton. Build a team in an area and then start acquiring. In fact, you can build a team as you make acquisitions. You want to leverage off of the abilities of your team so you can "cookie cutter" your acquisitions. Central to my team is my RE agent who has become a very close personal friend.
What you do will depend on your circumstances. I made the decision to put cash out there on my Stockton purchases because I could do it faster and wanted to take advantage of the hot market and very low interest rates.
Additional thoughts--Don't buy negative cash flows. If you can't find positive, look elsewhere. My newest area for investment is in the Midwest.
Hope this helps you.
Regards,
Ed