GET EDUCATED LEARN CAUTIOUSLY
Perhaps you ' ll need to further your education or take special training courses , but it may be worth it . Just be cautious and don ' t be in a hurry and rush into anything before fully investigating the success of students who have trained with the educator that you ' re thinking of working with .
Now virtual learning has really opened up the opportunities to get educated on any subject you wish . I just signed up for additional course work for my real estate sales license renewal and broker ' s coursework , and it ' s all online . What an exciting time that we are able to expand our mind and knowledge like never before .
Some knowledge can be expensive . Remember the goal of learning is to open up a world of opportunities , not to take on more debt . Before taking on educational loans or signing up for expensive courses , find alternative ways of finding the information you seek from reputable sources .
While it ' s important to gain knowledge , trust your instincts and know that not everything may be applicable to your lifestyle . I write " learn cautiously " because many people can dish advice and claim expertise , but only a true master can back it up with concrete facts , such as degrees , certifications , accolades , assets and experience .
STAY LASER FOCUSED
Once you have done the work on your finances and education , the fun part begins . It ' s time to invest in real estate . I recommend starting out by zeroing in on your market and the type of investment you want , which will largely depend on the funds you have available to invest .
Focus on a market and really justify why it is you want to invest in that area . Is it a highgrowth location ? Is it still affordable for you to buy in ? Is it an investorfriendly market ? Why did you choose that market in particular over others ?
Choose the area you want to invest in , and start growing your network . Savvy investors actually build their networks in their chosen market even before they invest . I always recommend investors visit a market before investing . Drive around the city and choose which parts of it are your preferred locations . Focus on specific areas and meet the local experts . Meet local property managers , even if you don ' t need one now , you may in the future .
Seek out an agent / broker who has experience working with investors because not all of them do . I like to work with professionals who also invest themselves because they know the challenges that come up .
As mentioned , stay laser focused . When we started investing , twenty years ago , we were not laser focused we jumped from one market to the next , trying to gain quick appreciation . While we didn ' t lose any money , we probably would have made more had we focused on a couple of markets instead of so many . Plus , it would have saved us a lot of stress too .
ACTIVATE A LONGTERM MINDSET
Being the driven human beings that we are ( or we wouldn ' t be in this business ), we want it all ... and we expect it as soon as possible .
But instant gratification can be contrary to success in real estate investing . Most investors I ' ve met scraped money for many years to be able to acquire a down payment to purchase a property . They worked hard and made sacrifices in order to save . They pushed instant gratification aside in order to plan for their longterm financial future .
It ' s important to activate a longterm mindset and find happiness today without dwelling on the things you still don ' t have . Remember your health is truly your wealth , take good care of it . Longevity and health experts advise us to eat healthy , exercise regularly , spend time in nature , surround yourself with loved ones , pray / meditate , limit screen time , and volunteer or actively seek to be of service .
Certainly , it ' s not easy or fun to have
to forgo those desired shiny objects today , but if you plan it right , you ' re able to purchase those things soon enough ... for cash instead of credit and it ' s going to feel even better !
I hope this letter can help you on your journey to true passive cash flow as a successful real estate investor . Please contact our office if we can help you or to share your feedback . We love hearing from our readers .
Until next time ...
Linda Pliagas
REALTOR ® Office : 805.693.1497 email : info @ realty411 . com Licensed in California DRE # 013555699 The REAL Brokerage
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