Qualities Of A Real Estate Investor
Disliked Qualities Is difficult to communicate with Lacks knowledge of the customer’s needs Is overly aggressive Makes promises that cannot deliver Skills you have to master: How to consistently find motivated sellers How to be a master negotiator How to quickly analyze deals to know the deals How to structure a variety of deals: short sales, lease options, cash sales, "subject to" deals, selling on a wrap mortgage and the list goes on How to write up the deals and understand the contract part of investing Get your priorities set - This is pertinent for a busy investor's schedule Daily schedules Block your RE time Don’t be a perfectionist Learn to say no Learn to prioritize Turn off your TV & computer You Must Have An Escape Plan as an investor and know what you will do with the property! Flip for profit But what if you cant? Hold & Rent But what if you cant? Trade it But what if you cant? Now you must: Refinance For Cash Out & Hold or Dump Your Plan must be well thought out by using the "What if factor" Do, Learn, Regroup; Do, Learn, Regroup is the key to your initial success!
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Get up 15 minutes earlier and know what you are going to wear
that day.
Develop the habit of making good notes. Keep reference notes
to guide you in your activities.
Be decisive - act fast.
Don't get bogged down in details. "Don't major in minors."
Look for short cuts to make things easier for you, i.e. work
smarter and not necessarily harder.
Learn to take a break. One of the worst time stealers is to be
harassed and tired. Take frequent catnaps to conserve your energy,
like Winston Churchill and Margaret Thatcher did.
Stop day dreaming and just do it.