You no doubt want to be a successful investor , but you need to know how to move beyond the wishing stage . I have some tips to help you get started and learn what to do to keep yourself on the right path . We ’ ll take a stepbystep look at how you too can go from just a dream of being a real estate entrepreneur , to having your own real estate portfolio that is your key to financial freedom for life .
First , you must set goals . Don ’ t just think about them , but instead put them in writing . The act of writing has the effect of making your goals more real and getting them into the subconscious part of your brain so that they are always there in the background , motivating you .
Another important point to understand to prepare yourself for success is that risks and sacrifices are involved . You already know that just about anything that has big potential rewards means that you need to push yourself out of your comfort zone , and this is no different .
Simply put , if you don ’ t make the effort , you won ’ t experience the reward . Here ’ s the level of effort that I
suggest : at least one hour per day devoted to studying real estate investing concepts and their realworld applications .
On weekends especially , you have the opportunity to explore the real estate market in your own area by touring neighborhoods , looking at houses , networking with people , and building up a base of knowledge about prices , amenities , desirable areas , and more . You ’ ll sacrifice the time that you would have spent napping or watching TV , but the potential payoff is longterm financial independence for yourself and your family .
As I mentioned , there is risk involved . Any investment that can make money for you can also lose money . That ’ s a fact of life , but there are ways to tip the balance sharply in your favor . You can protect yourself by ensuring that contracts are written to your advantage , by paying attention to both what is in a contract , and also what ’ s not . It is imperative that you read and understand everything that is contained in the contract , including all clauses , and also foresee any contingencies that are not mentioned . You may even choose to have a real estate attorney to help you review property contracts to be sure that there are no “ gotchas .”
Photo by Jackson David from Pexels
Driving for dollars is just one way investors seek real estate deals .
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