Okay, so there are so many people in today’s day and age that are jumping into the game of real estate. Most want advice on what they need to do to “get rich quick”. Unfortunately, there is no such thing. I mean seriously, if that’s what your heart desires, then you have a better chance at hitting the lottery. However, if you would like 5 good common sense tips that will help you in your real estate ventures….keep reading. Some would even call these vital keys to real estate investing. I would also call them 5 vital keys to life. Let’s get to it.
1. No Need To Be A Genius.
You don’t have to know everything to start, so don’t get frustrated. It’s easy to get bogged down when people are throwing words, acronyms and numbers at you that you don’t understand. Don’t let that stop you from taking action. There’s no rule that you need to know everything before you can be successful. Take it one day at a time and work on doing your best. So many people are fearful to start, because they think that they don’t know as much as the next person. However, they let their temporary lack of knowledge, get in the way of actually learning and applying something new.
2. Be A Genius.
Get educated. Wait….what? Didn’t I just say you don’t have to know everything? Yep, but it doesn’t mean that you don’t have to know anything. If someone uses a word and you’re not quite sure what it means, ask them….or at least go and look it up. The definition of that one word could mean thousands of dollars to you. Never stop learning and growing, just don’t let the fear of not knowing enough keep you from taking action. There are so many resources available to you that you can use to get educated. Listen to podcasts, read an old fashioned book, ask a trusted professional, search it up online, network with people in your industry….and the list goes on and on.
3. But My Friend’s Cousin Said….
Don’t listen to just anybody. Okay, so you told me to get information from a variety of different resources…..now you’re telling me not to listen to half of them? All I’m saying is that not everything works for everyone in all situations. Make sure you only follow the advice of those who you can trust and have a proven track record in the game of real estate. Even then, don’t just go into a deal with blinders on. Assess the situation and make a firm decision based on your own conclusions. Never let someone else dictate your future.
4. Dabblers Are Dreamers Not Achievers.
Don’t Dabble…Get serious. So many people have a “get rich quick” metality these days. While real estate is great way to earn wealth, it takes time and dedication to get to the top. And dedication….means stop dabbling and get serious. Treat your real estate business as an actual business, not as a hobby.
5. Your Network Is Your Net Worth.
Network with local investors. It’s great to have those other resources like books, podcasts and the internet at your fingertips. However, nothing compares to having people at your side, with a multitude of real life knowledge and experience of your local market. Attend local REIA meetings and get associated with those in your area who can help you.
If you would like more great advice on real estate, then please visit our official House Recruiters Blog.
– Andrea Babbino
CEO, House Recruiters, LLC.