One of the first questions you need to ask yourself, as an aspiring real estate investor, is what resources do you currently have at your disposal for real estate investing? This will give you a better idea of how to create a personalized plan or blueprint that helps you making the most of what you have.
As a real estate investor, your best resources (other than money) are time, experience, education, and relationships. Let me break them down a little further:
One question to ask yourself as you begin your investing journey is, how much available time do you have? Realistically you need time for finding the property, finding the financing, managing and renovating the property (if needed or desired), managing outside investors, etc. If time is not one of the resources you have, then partner with someone who has that resource more available!
Here’s the thing- the more experience you have, the more time and money you will save. With...
Recognizing and challenging any limiting beliefs about real estate is the first step in becoming a successful real estate investor. So many investors severely limit what they accomplish or worse, they don’t even get started, because they believe one of the following myths:
A lot of potential investors I speak to say “I’d love to invest in real estate and I will as soon as I’ve got more money.” Or “I’d love to invest, but I don’t have time to find a property or be a landlord.”
People think they’re limited because they have limited resources. I thought the same thing.
My husband and I were searching for a 4-unit property to buy in Los Angeles and were stuck and unable to find the right investment because we were only thinking that we had to use our own capital, credit, or available time.
Tony Robbins says, “There’s no lack of...