With the end of one year and the beginning of another, what better time to reflect and, as a mentor, offer 6 pieces of advice to REI to start 2020.
This is the most obvious one— just about everyone I know wishes they had started earlier. Time is on the real estate investor’s side. We all know the market has its ups and downs, but the sooner you get in, the easier it will be to ride out the bumps. If you have thought about being an REI (Real Estate Investor), get your feet wet or jump in.
A friend said he owned properties in five states. He would put more money into fewer markets if he had to do it all over again. It was a lot of work to manage properties in so many locations. He thinks he could have grown faster if he hadn’t been as stretched by managing this number of locations.
I have built a team over the years, but I probably could have grown faster if I had done this sooner.
The commercial projects have done very well. I wish I had started this expansion sooner, as there is less competition from buyers in the commercial space.
Especially today, technology can be a fantastic tool for investors. But getting the right technology and knowing how to use it and leverage it to its fullest can be a challenge.
A mentor can be an invaluable asset. Believe it or not, there are people out there who are willing to share their expertise—just out of the goodness of their being—without wanting anything in return. If you can find one, stick with them, and learn as much as you can. Especially if you are on your own, having someone to bounce ideas off can be a tremendous asset.
Some investors find a great deal but chicken out and settle for something smaller. Then they kick themselves when they look back. A practical – and often overlooked – strategy for overcoming fear is to make sure you’re not risking more than you can afford to lose.To grow and achieve greater success, you have to risk something. Just make sure that you can bear the loss if you don’t succeed the first time. My advice is to begin by taking on smaller challenges and work your way up.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. We offer the simple truth about your home and how we can help you sell it fast.
Give us a ring. We would love to help you understand the process and to answer all of your questions. You can reach us at 402 999.0577.