5 M's of Real Estate Investing 12/08/2010
Real estate investors have mastered 5 key skills that have made them successful.
Mining is finding really good deals. Deals that will guarantee an exceptional return on your investment of money and time. Money means finding the funding to purchase your real estate investments. Unless you have an endless supply of money, it will be necessary to develop the skill of finding an endless supply. Maintenance, the easiest to master, is getting an investment property ready to market. Just find a good and honest maintenance contractor, train him or her to do what you want and how you want it and you are done. Marketing is critical to the success of real estate investing. You must learn how to rent, sell or lease option the property quickly. Learn quickly and move the property quickly. A real estate investment sitting unoccupied can and will put a dagger in your chances of success. Managing renters is probably the most difficult skill to master. Not because it is the hardest to learn but because many investors just don't spend the time and effort necessary to learn how to manage their investment properties. By learning and becoming really good at each of the 5 M's you will increase your chances of investing success one hundred fold. Add Comment Money and Success - No Correlation 06/01/2010
Are you mistakenly projecting your value for freedom onto your money? You know it's true when your internal brain chatter sounds something like, "I'll be happier and start living the way I truly want as soon as I achieve X" (replace X with a specific goal or level of financial security). The underlying belief is that when you achieve the objective then the various causes for your unfulfilled life will be solved. Guess what? It doesn't work that way… The truth is that unless you are living in abject poverty there is little or no relationship between increasing your financial success and your level of happiness. Achieving a goal won't do it because your happiness can never depend on a specific circumstance outside of you. Every study ever conducted on the subject proves this out and my own personal experience confirms the same. Money and achievement are not related to your happiness. | About TWF
Advertise on TWF Friday Minute Resources Page Financial Calculators Real Estate FAQs Contact Me Subscribe via Email Who is TWF?The objective of the Thornhill Wealth Forum is to assemble like-minded people interested in wealth creation, to share, learn and prosper through knowledge sharing and networking. Our philosophy is to be supportive of the wealth of others. Share information on self-promotion or help a struggling entrepreneur…even share it with your competition. ArchivesNovember 2011 CategoriesAll |
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