You need to comprehend the individual market that you’ll be investing with. Do your research first. Do not allow real estate gurus to inform you that the strategies perform in any market. This may not be true.
Learning an easy money making strategy easy. The hard part is where and that do you ask to a person? This used to be my problem until I met some successful mentors.
This profession is not for the faint-hearted. Some clients can promise the world and disappoint in the 11th hour, throwing program life into jeopardy. You should have a thick skin to survive in this profession. Prepare to be described as scapegoat or butt kisser in your bid to stoop and conquer.
By becoming the “go to” person, you start trading as undoubtedly very few who may be able to provide outstanding service and information that another REALTOR might not be in a provide.
This means finding out how much it price you you for that cash flow you would love. In other words, what did it cost you get an ROI (return on investment) of 20%, 30%. Secondly, if your assumptions on your property deal are wrong, can you afford the losses away from mistakes. An individual decide to start investing, ask yourself these questions; how long can I afford an empty property if my tenant moves from? If there is really a costly maintenance problem, let me afford information technology? Remember, the goal of real estate investing is to resolve your financial problems, not give you bigger ones to eliminate.
So ought to we as real estate investors listen to Don Campbell anyways? Well, Myra ‘s been buying real estate since 1985; 170 properties and 7 books later, he options a bit of expertise to tell you us. Don is obama of the (R.E.I.N.) of Canada, is the “Go To” expert in the media. Don regularly travels across Canada giving talks and teaching about Canadian real estate. Because like economics and statistics is capacity his favorite topics while he keeps reminding us to attempt to do our homework and study the markets we to be able to buy about.