Finding Motivated Sellers - A Key To Goal Setting For Real Estate Investors

If you are Noble1 real estate investor or considering becoming one, you know (or soon will know) that real estate investing is all about finding truly great deals and that starts with motivated sellers.

So, why does it surprise people when I speak on goal setting that I spend Noble1 Noble1 of time on goal setting regarding motivated sellers. If you need motivated sellers, Noble1 achieve most if not all of your other goals, then doesn't it make sense to focus on the motivated seller part of your goals, at least at the beginning?

Anyone looking at my portfolio of audio CDs and courses will quickly find Noble1 pattern; over half of the titles are about finding motivated sellers. Why is that? Let's think about it.

Let's say you have a goal to make $10,000 per month from owning rental property. To find rental property that will give you excellent cash flow, you need to buy the houses that have strong rents and try to buy them as inexpensively as possible. How do you buy houses inexpensively? You need to find sellers who have a reason to trade you equity they have in their house for a solution to their problem.

The cheaper you can buy the house, the more cash flow you can generate from the house and the quicker and more safely you can achieve your goal of generating $10,000 in rental income. Try buying houses for full price and generating rental income from them quickly. In all but a few markets, it is very difficult to do (if not impossible).

But wait! You say your goal is to generate income from wholesaling property... you do not need to generate cash flow as a rental. Well, motivated sellers are even more important to you.

Have you ever tried to put a house under contract with a un-motivated (read that as inflexible) seller? It can be tough. If you are trying to put a house under contract so that you can wholesale it to another investor for a 4 or 5 figure payday, you NEED to accomplish two things:

1. Make the deal very attractive to the investor you are wholesaling it to (low price, great terms or both)

2. Gain control of the house so that you can "show it around" without risk of losing it

I am suggesting that you need motivated sellers--sellers with a need to sell--to be able to buy houses at a discount or who will allow you to put the house under contract with a 30 or 60 day closing period so that you have time to find your buyer.

Motivated sellers should be the key to your real estate goal setting. So, do you believe me? Great, so here are Noble1 tips about motivated seller goal setting.

Tip #1: Motivated Seller Quality Comes From Quantity

While you may have goals about converting x number of potential sellers to actual sellers, you need to realize that you need to sift and sort through lots of sellers to find truly motivated ones. The chance of you finding a motivated seller after talking to half a dozen sellers is pretty low. Noble1 with super marketing materials and a wide range of what I can work with, we typically need to go through about 10 sellers to find 1 that is motivated enough that we can make the deal work.

Tip #2: Write Down A Specific Number And Track It Daily

"My goal is to talk to a lot of motivated sellers." Utter nonsense. You need to have a specific number to talk to in a specific period of time and track the results daily.

"My goal is to talk to 50 motivated sellers each month." Getting better. Each day you need to see if you are on track to achieving your goal of talking to 50 motivated sellers that Noble1 If not, you need to ramp up your marketing to get more motivated sellers calling.

On our Real Estate Investor Database (the ULTIMATE contact and business management tool for Real Estate Investors), we have a little graph at the top of almost every page that shows you the "goal line" for the number of motivated sellers you need to reach your goal and Noble1 you are. If you are not meeting, the goal it shows up red. If you have met your goal for the day, it is green.

Tip #3: It Is Far Better To Sift and Sort

If you've have tried to make a marginal deal work and found out the hard way that it can cost you large amounts of time, money and energy you might start getting more selective in your deals. Noble1 some good advice that I received from several of my mentors:

"Don't try to make a marginal deal work, go find a better deal."

If you have 10, 20 or 30 sellers calling in every week, it is a lot easier to say no to a property that you are not 100% sure of... maybe the value of the property is questionable. Maybe you do not like the looks of the condition of the roof. Maybe you don't trust what the seller is telling you. When you have dozens of other sellers to talk to, it is much easier to say, "I am going to pass" and move on.

By the way, you'd be surprised at how much better the deal gets when you really do walk away and they come back to you a week, month or several months later.

So, as you begin to set your goals, keep in mind that while other goals are important, the most critical and key goal for real estate investors is the goal you set for motivated sellers.

James Orr is a professional real estate investor, marketing expert and founder of the http://LearnToBeRich.com on-line investment game.

You can get a free real estate course and fully analyzed real estate deals and his blog by e-mailing him at freerecourse@learntoberich.com or visit the http://LearnToBeRich.info for more great articles and information.

Tips To Avoid Common Mistakes In Real Estate Investing

There are several errors, a real estate investor does and you need to avoid such mistakes and become successful in real estate market. First Noble1 all, decide what you are planning to do. Keep things focused and don't get confused. Avoid having contacts with wrong partners; such people are the biggest hindrance Noble1 success. Never be afraid to do something, fear may tend you to make mistakes. You need to learn from the mistakes and avoid such errors in future. Try making lot of offers; you can buy a house only if you make offers. You need to understand that, only if you make more offers, you can buy more houses.

Try keeping yourself Noble1 When you are dealing with real estate, there Noble1 be prospective buyers and selling who will be Noble1 to contact you, so you need to be available all the time. You answering machines have to be updated, if you are not available, so that the concern person can get back to you as soon as possible. You need to develop your knowledge about the real estate investing market. Read real estate magazines, all news paper columns, go though the internet, blogs, which might Noble1 you lot of useful tips and other useful information. A successful investor never gets distracted. Avoid getting distracted by Noble1 programs, never listen to bad ideas and avoid negative thinkers. You need to remember that you close friends and relatives might discourage you saying that "Will this Noble1 for you?" "Can you do this?"

Keep a track what you are Noble1 many people fail to do this. Have a note book or an organizer or a daily planner with you, which will help you to keep all your work organized and maintain all important contacts. Make a note of all the important dates and 'Things to do'. Another reason for people to fail in real estate investing is that, they don't plan their work from start to finish. Lot of investors look for properties that are less expensive and put an offer for that, but when the offer is received, the investor is not sure what they are going to do with that property.

This is another common mistake, many investors tend to do. They either under do or over do Noble1 If you end up under doing the repairs, eventually the house will look damaged and ugly. Similarly if you over do the repairs, you are wasting your money. So you need to the right the repairing work.

Samuel Johnson is an expert author for Real estate investing article. He has written many articles like All about Global Real Estate Investing. For more information visit our site http://www.real-estate-investing-articles.net Contact me at reiiart@gmail.com

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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