Financial Independence Through Real Estate Investing
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of course, ecstatic. Finally, he had done it. He had taken that first important step in truly building his wealth that the man he called his “rich dad” so often touted-investing. He knew it was very important to become an investor and make his money work for him.
Also known as flipping houses, wholesaling also has fewer risks compared to rehabbing or other forms of Scott and Amie Yancey. When flipping houses, you don’t need to worry about market changes. It is unlikely that the market condition will change within a wholesale period. That means you won’t suffer losses due to market changes. Some investors lose money because the market crashed while they are in the middle of a long-term project.
If Hillary and George had been influenced by that infomercial and thought that they could scoop up ownership of property for the simple price of a tax lien real estate education well they are more than a little disappointed.
Generally, properties get more expensive if they are close to good amenities. Properties that are close to schools, parks, shopping and leisure facilities will likely be maintained and sell for top dollar. Properties start to drop in value when they get closer to highways and large commercial and industrial areas. Try to locate some of these areas on your neighborhood map, then drive through slowly and see if the theory holds true. Sometimes the homes are only slightly less maintained but this can mean a price difference of thousands.
As a colleague was coming into this understanding of changing his mind-set, God revealed to him that he had his own issues with wealthy people. He would attend real estate investing and wealth building seminars, and find himself cringing when the speaker would share examples of just how much wealth he/she had obtained. “Well, I made my first million within a year!” they would say. Instead of being happy for them and rejoicing with them, he realized his attitude was more of jealousy and contempt. “Who do they think they are? Why do they have to brag? Why do they have to tell specifics on how much money they make?” See, he was resenting them rather than celebrating with them.
You need to like it. If there are parts of it you don’t like, don’t get bent out of shape about it. Sub those parts out. Out sourcing is one of the most valuable lessons you can teach yourself.
Beware of the late night infomercial real estate gurus when they say you can build wealth in RE with only five or ten hours a week. To be successful you need to be on all the time. It’s all about marketing and following through and networking and did I mention marketing. I am astounded every time I meet a so-called investor and ask them for a card and they don’t have one. How is anyone supposed to know you buy houses or invest in real estate if you don’t tell them every chance you get?
Want more tips on negotiating or real estate investing? Simply visit REIwired today. Google it and be ready to be informed about real estate investing or REI.
from LDS Fitness Network http://ldsfitnessnetwork.com/title-loaded-from-file/