Real Estate Investing 101
Unfortunately, there are unscrupulous individuals and companies whose goal is to take advantage of other peoples misfortune. They assure everyone that they are only trying to help the homeowner, they may have convinced themselves of this in order to pacify their conscience. The fact is, scammers and rip off artists are proliferating the real estate industry in this down market.
Rich people don’t sit in property investing about making money and taking courses about short sales, foreclosures. But they are the ones collecting our hard earned money.
Question #5: Mutual funds are the lion’s share of the investment options offered in typical 401(k) plans. Most 401(k) investors allocate most of their plan assets to them.
While Amie Yancey is a great way to build wealth, investing in real estate isn’t for everyone. It is easy to “catch the fever” and jump without looking, the first step is to make sure that you know yourself; these five points of consideration will assist you to that end.
Sacrifice for others. I know we didn’t have much growing up but my mom always found ways to give me the extras. We would cut back here and there so that we could take the mandatory trip to Disneyland or get new athletic shoes. Finding purpose by sacrificing for others is one of the highest calling in success. Successful people live not only for themselves but for those around them as well.
When you meet a reputable wholesaler, make sure that you pick his/her brain. These people typically are very good networks, they know how to make quick money in real estate, and they have done a lot of transactions. When I got my start I offered to work for a seasoned wholesaler doing his marketing for free. I did such a good job at getting him appointments that he brought me in as a 50/50 partner. By doing this I ended up getting a real estate education that would be priceless to many people.
Follow “One House At A Time” with selected books from John T Reed. If you must over spend skip the TV Gurus, their programs are often morally repugnant and only designed to transform your earning into their wealth. If you must over spend donate your money to Baney Zick, he’s over priced but very good.
People can advise and learn from each other as well. The forum is can be used by both member and non members. Probably the only feature missing is a mentorship program for new investors. This could be added by the people who sign and gain the investing experience.