Property
25 Game Changing Advice
From Real Estate Investors.
#8 Will Shock You
We sat down with a group of high-net-worth real estate investors and collected real estate advice from each individual.
These guys are some heavy hitters in the real estate game but
stay humble and keep a low-key lifestyle. I’ve highlighted our
favorite ones.
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Never get greedy. The best deals are the ones where
everybody wins.
In real estate, there is such a thing as good debt.
We live in a world of abundance; there are more than enough
real estate deals out there for all of us.
Don’t wait until you know it all to get started. None of us know
it all.
It’s always a great time to be in real estate, you simply have
to pay attention to the economy and real estate fluctuations to
know how to direct your investments.
Don’t wait to buy real estate, buy real estate and wait.
There’s never been a better time to be in real estate.
How a Home Security System
can benefit Your Property
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If you’re not getting good deals, you don’t have enough leads –
you need better/more marketing.
Working too long on one “deal” trying to force it to work means
it’s not a deal and you’re still working on it because you don’t
have enough leads.
Marketing is not an expense, it’s an investment.
Set up your real estate investment entities (LLC, S-Corp, etc.)
early in your career to best protect you and your investments
as well as to prepare yourself to take advantage of all the
many tax benefits real estate offers.
It’s not how much money you make that matters, it’s how much
money you keep.
Don’t let friends, family, or co-workers give you real estate
advice or talk you out of real estate investing unless they have
more money than they know what to do with. If that’s the case,
do what they’re doing.
Free contracts are worth what you pay for them. Have your
contracts approved by an attorney who will defend them in
court. If you have to ask why, you’re new to the business.
If you own real estate, it’s not a matter of “if” you go to court,
it’s only a matter of “when”.
Inspections are not an expense, they’re an investment. We
have spent money to repair hidden problems that an
inspection would have uncovered.
If a contractor needs a draw advance to buy more materials
for your job, you can be pretty sure they’re using the money to
buy materials for another job.
You will pay for education, either ahead of time from a mentor
or by the mistakes you make as you go through the process.
When negotiating, spend more time listening than talking.
If a potential tenant doesn’t have enough money for their
deposit and first month’s rent, they won’t have enough money
to make the monthly payments.
If a potential tenant asks you to reduce your rental amount,
they won’t have enough money to make the monthly payments.
If a potential tenant says their child support/unemployment
income will enable them to make the payment, they won’t have
enough money to make the monthly payments.
If a potential tenant says, “the Lord will help YHXZ