Rookie Real Estate Investors: Be on the look out for These 3 Mistakes
How to be a Real Estate Investor - You’re all wet behind the ears “and all what not,” and new to the real estate investment game, and you’re probably wondering what are the typical rookie real estate investor mistakes? What you ought to really be asking is, “How can one avoid making those mistakes?” Inside your defense, you need to recognize (you betta recognize) the mistakes first before you avoid them, and you need a crash course on goal setting. So here we go….
Mistake #1: How you can Be A Real Estate Investor. The Honeymoon Phase.
How to Be a Real Estate Investor 300x201 Rookie Property investors: Be on the Look Out for These 3 MistakesWhen you first start out, you’re all full of piss and vinegar and newbie dreams, ready to rock the real estate investment world, but quite obviously that start out hot and heavy, the fire quickly burns out and passion fades into the sunset like Mel Gibson’s career. Heck, most quit before they even figure out how to be a real estate investor.
So, how can you avoid the burnout? Lay off the wacky tobacky (for starters), but more appropriately, set short-term goals for yourself over the long-term. That may appear to be an oxymoron, but here’s the skinny; know your long-term goals, but then break them down into 90-day chunks that you easily measure, analyze, and extract valuable lessons from. Shorter-term goals are more achievable and foreseeable, so you’ll keep on track and charged up to continue striving for success.
Mistake #2: Analysis Paralysis. Obsessive Compulsive Analysis.
We’ve all got a lil’ “OCD”, that is no “BFD”, but if spent more time analyzing an offer than checking out properties, you’ve got issues. If Pinch Butt 300x201 Rookie Property investors: Be on the Look Out for These 3 Mistakesyou have to smack it, flip it, and rub it down, it ain’t a good deal dude, so move on with your life, and take your time looking at potential properties. You’re in the stage we seasoned pro’s call; Analysis Paralysis. My good buddy, Steve Cook once informed me, “You can’t steal houses in slow motion.”
Here’s the main element; create “good deal” guidelines, and follow them. If your deal doesn’t meet those guidelines, then it’s hasta la bye bye baby. Simple stupid, but take it from me, your property coach, goal setting can help you avoid the endless cycle of unproductive obsessive analysis.
Mistake #3: Going It Alone. Get a Real Estate Coach.
A good deal isn’t gonna fall within your lap like your girl at the strip joint. You make your own destiny, although not without some sound guidance. The forex market does not reward mistakes. Ok, it’s not nuclear physics. You gotta bust your ass, focus like a laser on your market, hone your deal spotting skills, and have solid, knowledgeable people. Seriously, should you don’t have a real estate coach in this market; like Craig Fuhr - you’re setting yourself up for a short ride about the dead-end bus. Set your get together right and eventually, The great Karma Gods will give you the wink and pinch on the ass that you deserve
How to be a Real Estate Investor
Mistake #1: How you can Be A Real Estate Investor. The Honeymoon Phase.
How to Be a Real Estate Investor 300x201 Rookie Property investors: Be on the Look Out for These 3 MistakesWhen you first start out, you’re all full of piss and vinegar and newbie dreams, ready to rock the real estate investment world, but quite obviously that start out hot and heavy, the fire quickly burns out and passion fades into the sunset like Mel Gibson’s career. Heck, most quit before they even figure out how to be a real estate investor.
So, how can you avoid the burnout? Lay off the wacky tobacky (for starters), but more appropriately, set short-term goals for yourself over the long-term. That may appear to be an oxymoron, but here’s the skinny; know your long-term goals, but then break them down into 90-day chunks that you easily measure, analyze, and extract valuable lessons from. Shorter-term goals are more achievable and foreseeable, so you’ll keep on track and charged up to continue striving for success.
Mistake #2: Analysis Paralysis. Obsessive Compulsive Analysis.
We’ve all got a lil’ “OCD”, that is no “BFD”, but if spent more time analyzing an offer than checking out properties, you’ve got issues. If Pinch Butt 300x201 Rookie Property investors: Be on the Look Out for These 3 Mistakesyou have to smack it, flip it, and rub it down, it ain’t a good deal dude, so move on with your life, and take your time looking at potential properties. You’re in the stage we seasoned pro’s call; Analysis Paralysis. My good buddy, Steve Cook once informed me, “You can’t steal houses in slow motion.”
Here’s the main element; create “good deal” guidelines, and follow them. If your deal doesn’t meet those guidelines, then it’s hasta la bye bye baby. Simple stupid, but take it from me, your property coach, goal setting can help you avoid the endless cycle of unproductive obsessive analysis.
Mistake #3: Going It Alone. Get a Real Estate Coach.
A good deal isn’t gonna fall within your lap like your girl at the strip joint. You make your own destiny, although not without some sound guidance. The forex market does not reward mistakes. Ok, it’s not nuclear physics. You gotta bust your ass, focus like a laser on your market, hone your deal spotting skills, and have solid, knowledgeable people. Seriously, should you don’t have a real estate coach in this market; like Craig Fuhr - you’re setting yourself up for a short ride about the dead-end bus. Set your get together right and eventually, The great Karma Gods will give you the wink and pinch on the ass that you deserve
How to be a Real Estate Investor