#1. Keep your finger on the pulse.
Stay on the lookout at all times for great deals. Network and make connections with new people regularly so that when deals come up you know before they are on the market. You make money when you find a great deal on a piece of property, so don’t overpay just to get into the market or to add another door to your portfolio!
Look for local groups that get together and support each other, lots of times you will find not only other real estate investors, but accountants, brokers, lawyers and other important pieces to your business. Put yourself around other successful people! (check out www.PPREIG.ca or http://www.reincanada.com these two have great members sections so that you can learn from the comfort of your own home as well as attend great live events)
#2. Don’t wait for the right time to get into the real estate investing profession!
So many people think that they should wait until they are retired to start, this is false. Others will say things like, when the market gets better, it won’t get better than right now. Take stock on what you have to lose, most likely it is not much. You can also purchase real estate as an investment using other people’s money and there are so many investors out there waiting to meet you! There is never a better time than now to start building your path to financial freedom through real estate investing.
Don’t let your fear of losing keep you from playing the game!
#3. Build the right portfolio.
Learning how to build your portfolio is very important, and a profitable one is the only kind you should have. Do your homework and learn how to present a deal to obtain more doors with the purchasing power of JV partners. Go and look at as many properties that you can so that you start to learn what a great property is and what isn’t. If you want to fast track yourself, you can hire a coach or a mentor that can help to guide you in your new journey too.
I offer a coaching program that will allow you to quickly build a portfolio using mostly other people’s money.
#4. Learn how to leverage.
Successful real estate investors don’t stop. They make investments and then take the money earned/leverage out to purchase more. You can even use certain investments that you already have in order to purchase real estate as an investment. My golden rule: The more doors that you can add to your portfolio the more potential you will have for profit.
Did you find this valuable? Are you ready to take action today?
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