04 Nov How to be Successful in Real Estate Investing
Real estate investing often sounds like one of the best ways to reach your financial goals. But learning how to be successful in real estate investing can seem daunting.
There are a million real estate agents you meet all the time, and they all think they know the secrets to becoming a successful real estate investor. Then there are all the articles and gurus online, and it’s hard to know who to listen to.
That’s why we’re going to be upfront with you in all our materials. We want you to know that you can start building a successful real estate investing business no matter your background.
So what are the first steps in doing that? Keep reading to find out.
Achieving Success in Real Estate Investing
One of the questions our students or prospective students ask us all the time is, “How can I be successful in real estate investing?”
Well, in my opinion, it's mastering the basics.
Here's what I mean. Last week, I was spending some time with my family, and my son who's about to turn four has an electric Jeep–I don't mean like a remote control Jeep–I mean one that you actually sit in and press the pedal and drive it.
Now, I was watching him drive around in his Jeep in the backyard, and the property we have was originally owned by a landscape architect. So, as you can imagine, there are flowers everywhere. There're flower beds everywhere. There're bushes everywhere, giant plants, weed grasses, you name it.
As I was watching my son drive around in the backyard, he was crashing into absolutely everything. And, I found myself yelling to him from the porch, saying, “Cut the wheel!”
Eventually, what he does is he crashes into a bush, and he's yelling to me, “Dad! I'm stuck.” So, I said, “Put it in reverse and cut the wheel.”
Now, as you can imagine, being a father, I was a bit annoyed. But my wife turned and looked at me and said, “You act like he knows how to drive.”
Right there, it clicked.
And, I was like, “Oh my God! I forgot to teach him the basics.”
I came down off the porch, and I say to him, “I’ve got to teach you the basics here, so you stop getting stuck.” So I went and showed him the steering wheel, and if he turned it one way, he would go right, and the other way, he would go left. Then I showed him how to push the stick to put the Jeep in reverse and the pedal on the ground that would help him move forward or reverse.
I told him, “These will all help you go forward.”
The Basics Can Foster Your Success
At that time, I realized that when it comes to real estate investing, the focus on the basics will determine your success and will determine how far you're going to be able to drive this vehicle of real estate investing. So when I look at this business as a whole, real estate is about two things. It's about knowing the basics–how to make calls, how to do follow-ups, how to set appointments and attend appointments, and how to structure deals.
The basics are what support your business. Once you know the basics, from there, it's consistency.
So if you're consistently doing the systems that we teach, you're going to have massive success in creative financing. And a great place to start is just to go to our website and dive in because we teach you the basics–each and every one aspect of real estate investing you need to know to succeed.
So how to be successful in real estate investing is simply by mastering the basics. Unfortunately, if you don’t, you won’t be able to move your vehicle much further than you are today.
Want to know more about creating a successful real estate business? Check out our YouTube channel, where you can discover the basic principles of investing in real estate.
Build a Good Foundation for Real Estate Investing
Being successful in real estate largely depends on mastering basic skills. That means understanding how to set appointments and show up for meetings, how to make calls, how to do follow-ups, and how to structure deals.
All these elements are essential for building a strong, profitable business.
One of the most important aspects of creating a business that lasts is understanding the types of real estate deal structures. Our company loves doing deals with owner-financed homes. But for your business, another deal structure may work better.
It all depends on what your personal needs and goals are.
To discover what deal structure works best for you, first, you have to know and understand what the deal structures are. Then you have to decide what your risk tolerance is, figure out your schedule (how much time you have to dedicate to the investment), what your work ethic is, and at what stage your business is.
By asking yourself these questions, you will build a solid foundation to create a lasting business.
Don’t forget! Get your free copy of our Real Estate Investor’s Blueprint. Just fill out the form to the right and we’ll email you our step-by-step guide to getting into investing and owning more homes without using your cash or credit.