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Real estate investing is one of the most rewarding, profitable, and solid businesses available in today’s world.
It’s a business that no matter what the economy is doing, savvy investors can earn a well above average living while doing less work than the people working 40-80 hours a week slaving away in a cubicle.
Real estate investing is a GREAT business!
But…
Isn’t there always a “but” after the good stuff? But… over 95% of ALL people who try real estate investing FAIL within the first 12 months of business.
That’s higher than the restaurant business!
This high failure rate isn’t a result of the normal things people attribute failure to like:
* Not smart enough
* Not enough money to get going
* Not enough support from a community of other real estate entrepreneurs
* Bad economic times in your area
* They don’t know how to do certain real estate strategies
Those things above are all reasons I’ve heard time and time again from struggling and failing real estate investors.
That’s NOT it… and I can tell you this with 100% confidence from my own personal experience.
95% of all real estate investors fail within 12 months because of one simple flaw in their approach.
The 5% who succeed go into real estate investing treating it like a true BUSINESS… while those who fail go into real estate investing treating it like a hobby or a way to make “quick money”. That’s a huge difference.
Real Estate Investing IS a business just like any other business you see on main street such as the local hair salon, your insurance guy, and even Fortune 500 companies. Businesses require a plan, funding, marketing, systems, and execution. Without these you are just toying with a hobby and are leading yourself down the path of mediocrity and/or failure.
Getting Started In Real Estate Investing
I don’t want to sound like a downer with all of that “failure” talk you just read. Real estate investing is an awesome business! But… I don’t want you to get trapped into that mindset I talked about where you think you can toy with real estate with no clear business plan, marketing plan, business systems, etc. I went that route for 2 long years before I ever bought my first property.
The System Of The Mediocre and Un_Profitable Real Estate Investors
1. See a late night infomercial or online ad for “make a million bucks in 2 months with real estate” and order the crappy course that teaches only the basics for $397 (with the mindset of “this is my ticket to easy riches!”)
2. Think that all they have to do is read this course and they’ll make their million and be happy forever
3. Get halfway through the course and don’t finish it, then go buy another course that other one was “crap”, then buy another one, and another, and… (you get the picture)
4. Take all of these real estate strategies that you learned and hit the streets trying to apply these “strategies”
5. Knock on 15-20 doors… or send out a few hundred post cards
6. Get discouraged by the responses they got (probably a bunch of rejections)
7. Give up for a while and return to their regular job
8. Go to the courthouse steps and bid the heck out of a property and pay 95% of value for it and try to flip it… with no luck
9. Keep the house and rent it out… but get nightmare tenants who totally trash the place and don’t pay rent
10. They finally evict the tenants… and now have a property that is trashed, worth less than they bought it for… and now they try to sell it on the market with a realtor
11. Lose $25,000 on the property and give up because “real estate investing doesn’t work”
That sounds like a pretty great system doesn’t it? I know, I was a little dramatic with some of the things… but believe me, these are ripped right out of emails I get every day from people struggling to make it in real estate investing.
The System of the Successful and Profitable Real Estate Investor
1. See a late night infomercial or online ad for “make a million bucks in 2 months with real estate” and order the crappy course that teaches only the basics for $397 (with the mindset of “how can I use this information to help me reach my goals?”)
2. Learn the basics from the course and begin to formulate how they can use that information to build a lasting and solid real estate investing business
3. Evaluate their life and figure out where they want to be in 5, 10, 15, 50 years. They create a life plan that gets down on paper what they want out of life, how they want to live, what their perfect average day would be like, how they would like to work, what kind of work they’d like to do every day, etc.
4. Use that knowledge they learned from the course to find a real estate investing strategy or strategies that perfectly match their life and lifestyle goals… which is far more important that just making a “ton of money”. They realize that if the real estate business doesn’t help them get where they want to be in EVERY aspect of their life… it’s not the right route to go.
5. They sit down and create a business plan to map out the structure, focus, mission, marketing, finances, and future of their real estate investing business.
6. They create their business and set it up with the state just like any other business… because, afterall… it is a real business… so why not treat it like one.
7. They create a start up budget to get the initial marketing off the ground… because… once again… it takes a bit of capital (whether it’s money, time, etc.) to get a real legitimate business going… no matter what the late night hucksters say. Whether the budget is $50 a month for a classified… or $500 a month for postcards, signs, business cards, etc… it doesn’t matter. They have a budget and have a clear plan on how they will create a great return on investment for that start up budget.
8. They create a specific action plan that has 1 goal in mind… to focus solely on that 1 strategy until they become a master at it.
9. They faithfully execute the strategy and begin to build a team of experts around them who can take care of the work that the entrepreneur isn’t the best at… or simply doesn’t like to do (realtor, banker, kids to post the signs, a book keeper, a contractor for rehabs, etc.)
10. They look for new opportunities and have the business systems they’ve created keep the business running smoothly.
11. They are profitable, happy, have more free time, and now have a solid business that is an asset in of itself and can be sold in the future (remember, a hobby can’t be sold… but a business can)
Now, doesn’t the second one sound much more appealing?
No Matter How Big You Want To Get… You Need To Do It Right…
Whether you want to fix and flip 50 houses a year… or just want to buy 1 rental property a year… you need to create a solid business if you want to get the most out of real estate investing. Trust me… I know from experience because I was on the wrong side of this equation for 2 years before I figured out that those late night infomercial guys were great at teaching me strategies… but without knowing how to set up a solid investment business… and align that business with my life goals… I was up crap creek. And you are too.
What Steps Do You Need To Take First?
There is a certain order that you should go about it if you are serious about being a successful real estate investor. Yep, there are other ways… but this process is the route that is the most failsafe and effective that you can take. Heck, I tried all of the other routes for 2 years until I stopped treating real estate investing like an “opportunity” and a “hobby” and started following the steps you’re about to follow for free.
The first step you should take is to ensure you get the most up to date information, tools, action plans, statistics, etc. all along the way by joining my little investing newsletter. It’s nothing big and I don’t hammer you with emails and product pitches like those other sites. What you will get is timely and highly actionable information, tutorials, resources, tools, and plans that you can immediately use in your real estate investing business… and I try to mix in a little of my corny and sometimes funny personality (I guess that’s for you to decide ;-) . Anyhow, after you join the newsletter I’ll shoot you over some awesome tools that I use in my business to get you going.
Then, take the 3 steps below to get started in your real estate business the RIGHT WAY the first time. And even better… I’m doing everything I can to keep the information here at The REI Brain free for you.
1.
Set Your Life Success Foundation:
Really dig into your inner being and figure out what the heck you want out of life… EXACTLY what you want out of life. This is the most important… and very first action you need to take. I know, it sounds corny and stupid… but you’ll cut years off of your path to success and will live a much more rewarding life… I promise. I call it the “Life Success Foundation “Set Your Life Success Foundation <<
2.
Set Your Solid REI Business Foundation:
How many successful businesses do you think started without a clear plan? How about marketing… do you think successful businesses had to market to get their business going? And systems… what would happen if McDonalds never wrote an instruction manual for how to make a Big Mac? Man, that would be a disaster!
For far too long people have been brainwashed by the late night infomercials and some dishonest (or just plain clueless) real estate investing “gurus” making real estate investing seem like an easy get rich quick strategy that you can put minimal effort into, no money, and you’ll be a millionaire. As we all know, anything worth while takes some dedication and an investment to make it happen. Whether that investment is your time, money, or both… it’s hard work to build a solid investment business… but not quite as hard when you do it the right way.
So, ditch that misleading notion that real estate investing takes little to no effort… and adopt the reality that real estate investing is a business (just like a restaurant or any other business out there) and it should be treated like one (BECAUSE IT IS!!!). So, set it up like a real business and be ready to invest time and some money at the start to get it going… if you don’t think it’s worth 3-10 hours a week (to start) and $100 to $1,000 a month for marketing and other business expenses the first few months… you should go out and try to find another business that has the potential real estate does that you can start up with that little time and cash. Good luck finding one (you won’t find one). Bottom line… real estate investing IS business and no matter how big or small… you need to treat it like one or you’re wasting way too much of your time and money (even if you only own 4 units… or you buy 10 houses a month).
3.
Learn and Apply The Real Estate Investing Strategies:
Yep, kind of backwards to what you’re used to isn’t it? I mean, learning the strategies is the 3rd most important part… I bet you’ve been doing nothing but studying up on strategy after strategy haven’t you?? I know you have ;-) Hey, there’s nothing wrong with that… you’re just a bit ahead of the game when you get to step 3.
In any business there are different ways to make a buck. In real estate investing there are strategies like wholesaling, rehabbing, rental properties, short sales, foreclosures, etc. These are nothing but ways to make a buck just like your local hair salon cuts hair, sells shampoo, does manicures, etc. The trick is (that most people don’t get… and leads to failure) to match up your life plan (from step #1) to the right real estate investing strategies that will help you get there.
For instance, I didn’t realize that wholesaling and flipping wasn’t for me until I’d been trying to make money doing it for over 2 years (I didn’t make much… trust me). Not because wholesaling isn’t a good business… it is… I know people who make well into the 6 figures working less than 20 hours a week. It wasn’t until I took the time to figure out what I wanted out of life that I realized buying and holding multi-unit rental properties was more of a fit for me and my lifestyle. Once I matched the strategy up with my life and lifestyle goals… I was on my way and bought my first property 2 months after that when I was 21.
One mistake you can make and most new investors make is to try to learn everything. DON’T. Find the 1 or 2 strategies that best fit your life and lifestyle goals… learn them… immediately execute what you learn… and master them. You’ll become 100x more successful if you master 1 or 2 strategies rather than trying to be a “jack of all trades”.
Real estate investing is one of the most rewarding, profitable, and solid businesses available in today’s world.
It’s a business that no matter what the economy is doing, savvy investors can earn a well above average living while doing less work than the people working 40-80 hours a week slaving away in a cubicle.
Real estate investing is a GREAT business!
But…
Isn’t there always a “but” after the good stuff? But… over 95% of ALL people who try real estate investing FAIL within the first 12 months of business.
That’s higher than the restaurant business!
This high failure rate isn’t a result of the normal things people attribute failure to like:
* Not smart enough
* Not enough money to get going
* Not enough support from a community of other real estate entrepreneurs
* Bad economic times in your area
* They don’t know how to do certain real estate strategies
Those things above are all reasons I’ve heard time and time again from struggling and failing real estate investors.
That’s NOT it… and I can tell you this with 100% confidence from my own personal experience.
95% of all real estate investors fail within 12 months because of one simple flaw in their approach.
The 5% who succeed go into real estate investing treating it like a true BUSINESS… while those who fail go into real estate investing treating it like a hobby or a way to make “quick money”. That’s a huge difference.
Real Estate Investing IS a business just like any other business you see on main street such as the local hair salon, your insurance guy, and even Fortune 500 companies. Businesses require a plan, funding, marketing, systems, and execution. Without these you are just toying with a hobby and are leading yourself down the path of mediocrity and/or failure.
Getting Started In Real Estate Investing
I don’t want to sound like a downer with all of that “failure” talk you just read. Real estate investing is an awesome business! But… I don’t want you to get trapped into that mindset I talked about where you think you can toy with real estate with no clear business plan, marketing plan, business systems, etc. I went that route for 2 long years before I ever bought my first property.
The System Of The Mediocre and Un_Profitable Real Estate Investors
1. See a late night infomercial or online ad for “make a million bucks in 2 months with real estate” and order the crappy course that teaches only the basics for $397 (with the mindset of “this is my ticket to easy riches!”)
2. Think that all they have to do is read this course and they’ll make their million and be happy forever
3. Get halfway through the course and don’t finish it, then go buy another course that other one was “crap”, then buy another one, and another, and… (you get the picture)
4. Take all of these real estate strategies that you learned and hit the streets trying to apply these “strategies”
5. Knock on 15-20 doors… or send out a few hundred post cards
6. Get discouraged by the responses they got (probably a bunch of rejections)
7. Give up for a while and return to their regular job
8. Go to the courthouse steps and bid the heck out of a property and pay 95% of value for it and try to flip it… with no luck
9. Keep the house and rent it out… but get nightmare tenants who totally trash the place and don’t pay rent
10. They finally evict the tenants… and now have a property that is trashed, worth less than they bought it for… and now they try to sell it on the market with a realtor
11. Lose $25,000 on the property and give up because “real estate investing doesn’t work”
That sounds like a pretty great system doesn’t it? I know, I was a little dramatic with some of the things… but believe me, these are ripped right out of emails I get every day from people struggling to make it in real estate investing.
The System of the Successful and Profitable Real Estate Investor
1. See a late night infomercial or online ad for “make a million bucks in 2 months with real estate” and order the crappy course that teaches only the basics for $397 (with the mindset of “how can I use this information to help me reach my goals?”)
2. Learn the basics from the course and begin to formulate how they can use that information to build a lasting and solid real estate investing business
3. Evaluate their life and figure out where they want to be in 5, 10, 15, 50 years. They create a life plan that gets down on paper what they want out of life, how they want to live, what their perfect average day would be like, how they would like to work, what kind of work they’d like to do every day, etc.
4. Use that knowledge they learned from the course to find a real estate investing strategy or strategies that perfectly match their life and lifestyle goals… which is far more important that just making a “ton of money”. They realize that if the real estate business doesn’t help them get where they want to be in EVERY aspect of their life… it’s not the right route to go.
5. They sit down and create a business plan to map out the structure, focus, mission, marketing, finances, and future of their real estate investing business.
6. They create their business and set it up with the state just like any other business… because, afterall… it is a real business… so why not treat it like one.
7. They create a start up budget to get the initial marketing off the ground… because… once again… it takes a bit of capital (whether it’s money, time, etc.) to get a real legitimate business going… no matter what the late night hucksters say. Whether the budget is $50 a month for a classified… or $500 a month for postcards, signs, business cards, etc… it doesn’t matter. They have a budget and have a clear plan on how they will create a great return on investment for that start up budget.
8. They create a specific action plan that has 1 goal in mind… to focus solely on that 1 strategy until they become a master at it.
9. They faithfully execute the strategy and begin to build a team of experts around them who can take care of the work that the entrepreneur isn’t the best at… or simply doesn’t like to do (realtor, banker, kids to post the signs, a book keeper, a contractor for rehabs, etc.)
10. They look for new opportunities and have the business systems they’ve created keep the business running smoothly.
11. They are profitable, happy, have more free time, and now have a solid business that is an asset in of itself and can be sold in the future (remember, a hobby can’t be sold… but a business can)
Now, doesn’t the second one sound much more appealing?
No Matter How Big You Want To Get… You Need To Do It Right…
Whether you want to fix and flip 50 houses a year… or just want to buy 1 rental property a year… you need to create a solid business if you want to get the most out of real estate investing. Trust me… I know from experience because I was on the wrong side of this equation for 2 years before I figured out that those late night infomercial guys were great at teaching me strategies… but without knowing how to set up a solid investment business… and align that business with my life goals… I was up crap creek. And you are too.
What Steps Do You Need To Take First?
There is a certain order that you should go about it if you are serious about being a successful real estate investor. Yep, there are other ways… but this process is the route that is the most failsafe and effective that you can take. Heck, I tried all of the other routes for 2 years until I stopped treating real estate investing like an “opportunity” and a “hobby” and started following the steps you’re about to follow for free.
The first step you should take is to ensure you get the most up to date information, tools, action plans, statistics, etc. all along the way by joining my little investing newsletter. It’s nothing big and I don’t hammer you with emails and product pitches like those other sites. What you will get is timely and highly actionable information, tutorials, resources, tools, and plans that you can immediately use in your real estate investing business… and I try to mix in a little of my corny and sometimes funny personality (I guess that’s for you to decide ;-) . Anyhow, after you join the newsletter I’ll shoot you over some awesome tools that I use in my business to get you going.
Then, take the 3 steps below to get started in your real estate business the RIGHT WAY the first time. And even better… I’m doing everything I can to keep the information here at The REI Brain free for you.
1.
Set Your Life Success Foundation:
Really dig into your inner being and figure out what the heck you want out of life… EXACTLY what you want out of life. This is the most important… and very first action you need to take. I know, it sounds corny and stupid… but you’ll cut years off of your path to success and will live a much more rewarding life… I promise. I call it the “Life Success Foundation “Set Your Life Success Foundation <<
2.
Set Your Solid REI Business Foundation:
How many successful businesses do you think started without a clear plan? How about marketing… do you think successful businesses had to market to get their business going? And systems… what would happen if McDonalds never wrote an instruction manual for how to make a Big Mac? Man, that would be a disaster!
For far too long people have been brainwashed by the late night infomercials and some dishonest (or just plain clueless) real estate investing “gurus” making real estate investing seem like an easy get rich quick strategy that you can put minimal effort into, no money, and you’ll be a millionaire. As we all know, anything worth while takes some dedication and an investment to make it happen. Whether that investment is your time, money, or both… it’s hard work to build a solid investment business… but not quite as hard when you do it the right way.
So, ditch that misleading notion that real estate investing takes little to no effort… and adopt the reality that real estate investing is a business (just like a restaurant or any other business out there) and it should be treated like one (BECAUSE IT IS!!!). So, set it up like a real business and be ready to invest time and some money at the start to get it going… if you don’t think it’s worth 3-10 hours a week (to start) and $100 to $1,000 a month for marketing and other business expenses the first few months… you should go out and try to find another business that has the potential real estate does that you can start up with that little time and cash. Good luck finding one (you won’t find one). Bottom line… real estate investing IS business and no matter how big or small… you need to treat it like one or you’re wasting way too much of your time and money (even if you only own 4 units… or you buy 10 houses a month).
3.
Learn and Apply The Real Estate Investing Strategies:
Yep, kind of backwards to what you’re used to isn’t it? I mean, learning the strategies is the 3rd most important part… I bet you’ve been doing nothing but studying up on strategy after strategy haven’t you?? I know you have ;-) Hey, there’s nothing wrong with that… you’re just a bit ahead of the game when you get to step 3.
In any business there are different ways to make a buck. In real estate investing there are strategies like wholesaling, rehabbing, rental properties, short sales, foreclosures, etc. These are nothing but ways to make a buck just like your local hair salon cuts hair, sells shampoo, does manicures, etc. The trick is (that most people don’t get… and leads to failure) to match up your life plan (from step #1) to the right real estate investing strategies that will help you get there.
For instance, I didn’t realize that wholesaling and flipping wasn’t for me until I’d been trying to make money doing it for over 2 years (I didn’t make much… trust me). Not because wholesaling isn’t a good business… it is… I know people who make well into the 6 figures working less than 20 hours a week. It wasn’t until I took the time to figure out what I wanted out of life that I realized buying and holding multi-unit rental properties was more of a fit for me and my lifestyle. Once I matched the strategy up with my life and lifestyle goals… I was on my way and bought my first property 2 months after that when I was 21.
One mistake you can make and most new investors make is to try to learn everything. DON’T. Find the 1 or 2 strategies that best fit your life and lifestyle goals… learn them… immediately execute what you learn… and master them. You’ll become 100x more successful if you master 1 or 2 strategies rather than trying to be a “jack of all trades”.
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