Often when I counsel students I ask, “Why did you choose to invest to real estate?” The most common answer is: “To make more money and build personal wealth.” Next I’ll ask, “How do you propose to do it? …What is your investment plan or strategy… Are you using it now and how long will it take?”
Most people have great difficulty explaining their investment strategy. That is one of the major reasons why investors get themselves in a financial pickle. The biggest problem is: not enough planning is done before the deal is closed. That mistake often leads to overpaying. Most often, overpaying means no cash flow or negative flow.
Investors who begin without much money need a clear vision of who they are (poor) and what their buying capacity is (not much). Once you can clearly visualize where you stand as an investor, it should come as no surprise…cash flow must be your top priority if you intend to stay an investor for long.
My success has come from keeping things simple and sticking to basics. That means thoroughly analyzing the expense money going out and the income coming in. You don’t need to know the internal rate of return (IRR) on a duplex to make a profit. You’re far better off knowing if both toilets will flush. Later on when the money rolls in you’re accountant can tell you about the IRR.
JUST RELEASED: After teaching my LIVE 3-Day REAL ESTATE INVESTOR TRAINING SEMINAR for 27 years, I just converted it to an online home study course with a BONUS……..
All 3 days of the LIVE seminar audio are included in 18 easy to follow chapters, 564 digital pages (all downloadable to view as a physical copy or create a course binder).
Click here for full details and the huge benefits this course can offer you.
Now, no cost of the LIVE seminar: Seminar fee, air travel, hotels, meals, rental cars ($2000 -$3000).
View on PC, Mac, table or smartphone, anytime anywhere
This NEW ONLINE COURSE, REAL ESTATE INVESTOR TRAINING is a road map for financing and fixing these properties.