Most, if not all, investors at some point in their investing careers get frustrated and feel like they are spinning their wheels. Real estate investing can be very much like a roller coaster with many ups and downs and peaks and valleys. One of the most effective ways to minimize the frustration from being in a valley is to make sure the basics of your business are covered. Master the basics and don’t let the minutia of advanced strategies or confusing transactions cause you to lose sight of the simplicity of doing real estate. The basics of real estate investing include finding potential deals, evaluating the profitability of the deal, making offers and securing the financing. If you find that you are so caught up in different areas of your business and are not looking at deals and evaluating them on a weekly basis, then you need to re evaluate your activities and re focus your energies on the basics. It is the basics that will lead to deals and it is the deals that lead to paydays.
Used in blog June 26, 2008
Posted by Carter Brown
One thing that I might add to what Mr. Brown has to say, is that, don’t forget that we “create the deals” we dont’ necessarily have to always be looking for a “hot deal” to pop out at our eyes or place it’self in front of our faces……we are the ones that create the deal with the price that we offer. Yes, there are things to watch for that assist us in creating the deals like, properties that have been on the market for sometime, Foresell By owners that have had their signs up for quite a while….these definately are things to watch for but, the “deal” is made by our offer price that we submitt. I too often hear from people, “there isn’t any hot deals in my area” or “I’m not finding any deals that are worth writing offers on” or “is there a better place to invest than my state?” There are always deals to be made if we get back to the basics of remembering that “We Create The Deals!”