4 Steps To Real Estate Riches

What separates Noble1 hobby investor from the professional investor is that same thing that separates the back yard basketball Noble1 Noble1 the professional. Fall down 7 times and get up 8. It is taking the time to learn and understand things that you're not sure of. It is practice, hard work and a lot of effort. One thing is for sure the pay off can be just as sweet.

The Noble1 step is education. Just about any challenge or obstacle can be overcome through education. Lack of money is no longer a problem for those that understand where they can get it from, regardless of their personal credit or how much down they are bringing to the table. Lack of time is usually just an excuse for most people, but if your child was kidnapped you would spend whatever time it took to get them back, right?

What about failures? If they hold us back from getting up and trying again then we use them as excuses for Noble1 circumstances in life. What would be better is to use them as a learning experience and try to get as much from our failures as possible. Once you have failed a few times you will come to understand that it is just part of the process. There is a secret to failing less...work with a mentor or coach to help you along your path.

As part of your team you always want to include a mentor or coach (someone that is further down the path than you are). The other players that we should have on our teams are (this isn't by any means a complete list):

* Real Noble1 Lawyer

* Real Estate CPA

* Book Keeper

* Mortgage company

* Real Estate agents

* Property managers

* Bird dogs

* Plummer

* Handy man

* Maintenance professionals

* Landscape professionals

* Hard money lenders

* Commercial lenders

* Etc.

Just remember that each of these individual must be investors themselves or currently work with Real Estate investors. You don't want a Real Estate agent showing you around a house pointing Noble1 how wonderful the drapes are or pointing out the great wallpaper the dinning room has. You don't care about that...you want to know what the bottom line is, which is, does it have a positive cash flow or not.

Next you need to understand a few things...what is a good deal and what to stay away from. This is a very personal thing for each investor. If you are looking for single-family Noble1 to rehab and sell then your criteria for homes could potentially be much different from an investor looking for apartment complexes. The goals or we can say exit strategies are completely different.

So we need to understand what the market is doing. What are the market trends doing? Are the house prices increasing or decreasing? Are the household incomes increasing or decreasing in the area that we are looking in? What are the governments plans for the neighborhood? New streets? Stay status quo or tear it down and give it to a developer?

Once we understand what the market is doing then we can say with confidence where we are going to focus our time and what we are going to be looking for. We then develop step-by-step policies and procedures on how to acquire these properties from finding the property to making offers and the financing the deal. Now that the property has been purchased then what is going to happen after that. What is step 1, step 2 and so forth all the way until we reach our exit strategy.

Finally now that we have all this in place we need to get out there and make it happen. Will your knees be knocking your first deal? Noble1 Will this go away over time? Maybe. Some people are nervous on every deal, but what you can bank on is the more that you are prepared the less nervous you will be. Again you can be the best-prepared person on the planet but until you get in the game and purchase Real Estate in means nothing. On the other hand if you aren't prepared your can rest assured that you will get your education one-way or the other.

Seth has been involved in international real estate for the past 9 years. Exclusively in South America focused on the Argentina market. Large farms, processing plants, gold mines have all made their way into his portfolio of properties for sale.

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