When I Started In Real Estate Investing, I Didn T Know These Things Either

Category: Finance, Real Estate.

The number- one determinant of your success in real estate investing is your desire: your motivation as reflected in your goals and your plan. I don t believe that.

Many people think success in real estate investing hinges on your understanding of contracts, and financial concepts, laws. The most successful people I ve met have a lot of desire. Many aren t familiar with a lot of the concepts related to real estate such as wholesaling, limited liability companies, lease optioning, advanced analysis, or different types of contracts. As a matter of fact, many of the super successful investors actually don t know everything about real estate investing. They simply have a lot of desire. They don t worry about it- they just keep working their action plan.

They go out and make things happen. When I started in real estate investing, I didn t know these things either. The most important part of your real estate investing career is desire and motivation- whether you ve been in real estate for 10 years, or you, just starting out ve spent the last 10 years just thinking about getting started. But I did enough activities to experience enough successes. Now it s your turn. Remember, there are no wrong answers. Write down what motivates you.

Why are you interested in real estate? - Is it to make more money, be your own boss, be able to, become financially independent take more vacations, get rid of your boss, create wealth for future generations of your family, build a retirement savings, make up for losses in the stock market? Maybe you want to make an extra 20000 and 30, 000 or even just 5000 extra a month. How much money do you want to make? - Now be realistic, if you re just getting started. What will you do with that money? - Pay off some debt, purchase a toy, take a trip, invest in the stock market, write down what, work part time difference that would make for you and your family. Remember, your# 1 determinant of success is your desire and your motivation. What will be your motivating factor? - A picture of a beautiful island off the Pacific ocean, a brand- new Ferarri parked out front of your three car garage mansion, or that 5 carat diamond Tiffany ring your wife has been dreaming about- now take whatever that motivating factor might be and put a picture of it on your desk and look at it every day, determining that motivation will remind you of why you re getting into real estate.

This visual reminder will encourage you weeks down the road. Just reread that card with your goal written on it and look at the picture of what you want. If you re having a bad moment, don t get frustrated. You ll quickly be motivated again to keep on going. It will reignite that fire.

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