Top 20 Tips For New Real Estate Investors.

Top 20 Tips For New Real Estate Investors.

Here is a list of the top 20 tips for new real estate investors from ..

  1. Focus on learning as much as you can
  2. Don’t over analyze to the point of taking no action.
  3. Learn your market, do your homework
  4. Market to find motivated sellers.
  5. Market to find motivated buyers.
  6. Market to find and obtaining Funding.
  7. Make offers! If you are not making offers, you are not growing.
  8. Set goals and write them down. There are six areas of life to set goals in. Without a clear idea of why you want to accomplish what you are attempting to accomplish you will most likely either stay stagnate or fail. When setting them don’t allow your goals to conflict one another.
  9. Don’t just buy business cards pass them out. The best prospect group you can give cards to is you center of influence. People you know. Don’t be shy about expressing your decision to be a real estate investor.
  10. Answer your telephone or return prospect calls ideally within 15 minutes and at most a day. All it takes is one missed call to lose out on a deal.
  11. Ask questions of everyone. Don’t worry about being embarrassed about feeling stupid. You’re only stupid if you don’t ask.
  12. Everyone who tells you, you can’t or shouldn’t are great objection handler opportunities. Practice on the naysayers.
  13. You don’t have to spend thousands on training with a guru to get a good education in REI; you can get lots of good info for free. Just make sure if you do get a Guru to get a good one!
  14. Don’t get overloaded, only focus on one aspect of the business at a time.
  15. Surround yourself with great people! Advisers, attorneys, title agents, mentors, other investors…who know more than you do.
  16. Try not to use any of your own cash or credit until you know what the heck you are doing.
  17. Learn how numbers work for you or work against you. REI deals come down to numbers.
  18. Learn how to work with people. You cannot do REI deals without interacting with people. Real Estate Agents like to state “Location – Location – Location” but for those just starting out in real estate investing your mantra should be: “Network – Network – Network”!
  19. You are in the problem solving business. The more problems you successfully solve the more successful you will be.
  20. Find someone who is successfully doing what you want to accomplish, copy them!!!

 

My top tip would be to focus on CORE, money making activities in the business.

  1. Marketing to find motivated sellers.
  2. Marketing to find motivated buyers.
  3. Finding and obtaining Funding.
  4. MAKING OFFERS!

 

No offers = no deals. I would set goals to make X amount of offers each week.

 

Just get that first deal under your belt. After that the adrenaline kicks in and you wonder why it took you so long to get that first deal completed. As more deals roll across the closing table – it gets better and better.