So by now you're probably wondering why and how all these skill sets and blessings have fallen into my lap... Well the truth is THEY DIDN'T. In fact, before starting to achieve my successful streak, I was out over $160,000 for a formal education, and had absorbed every guru/teacher's seminars with detail... And still, I was unable to really do anything because I suffered from these four devastating mistakes...
Some might be tempted to take these as signs of failure, however being the smart investor you are, you know that trial and error are what separates those that simply make projections and suggestions, from those that have been there, done that, and simply 'know' what's best from personal experience.
So, here it goes - not rocket science, but mess these up and you'll NEVER make it in this industry.
1. The market: Never invest unless there is a STRONG rental market with good potential for long-term positive cash flow/income. Weak markets often predict short term risky returns with little room to maneuver.2. Do NOT overspend on your investment. Meaning that if you can't get it at a great price, DON'T TOUCH IT! No matter how much 'future appreciation' a property might have, this is asking to get burned later!3. STOP CHASING the same dime. Motivated sellers CAN be a little goldmine if you focus on them exclusively, however this is going to eat up your time, and you are going to find yourself in a bad deal sooner than later. I have a turn-key system that goes far beyond the success of quick movers & shakers.4. Too much talking, not enough walking. This was the hardest one for me to get over, stopping my research and simply TAKING ACTION! Too many people talking a big game, and even if they truly know what they are talking about, nothing attracts success more than being a motivated go-getter that doesn't talk too much, but acts fast, swift, and often.
If some of this stuff translates into your life, and or you can relate to it with your current career path, then it's time you consider a true change for the better.
Unfortunately, most families in the United States are finding it more and more difficult to make ends meet. As more and more committed citizen's lose their jobs and security, millions of people have been pressed into looking for alternative means to money. All this because our economy needs people to 'work' for 'the man' in order to keep the hamster wheel going...
This is unfortunately what happens when you work for someone else. Your security and future lies in the hands of your employer. Do you really feel that YOU are in control of your life in this setting? You're NOT, just ask any of the millions that have been handed a pink slip after xx loyal years working for a brand they didn't like to begin with, but it paid ok...
So STOP this insanity before it even starts. Don't wait for some economic analyst to tell you that 'things are only going to get worse from here', take action today, and gain control again by yourself.
Being your own boss has SO MANY perks and advantages that go far beyond the money you can make... It's the feeling of waking up knowing you are in charge, knowing that it's YOUR time, YOUR efforts, and YOUR rewards 100%. You can work from your bedroom, your beach-house, cottage, or heck if you've had a great month you can NOT work at all for a few weeks and enjoy some fun in the sun or another vacation...
Let's be realistic though, most people are scared to death to simply stop and drop everything to pursue un chartered territory right? That's perfectly fine, I even suggest that for those on the fence, you get into this by getting your toes wet at first - this business model is fully doable on a part-time basis, and once you have the fundamentals down that's all the time you will need to devote in order to gain full time pay (and then some). Cautiously and slowly growing your wealth and earning enough to finally leave the nest for good, and never return.
You can become a skilled real estate investor without even having to be on location for most of your deals. This is the beauty of remote access and virtual assistants... I'd also like to add that NO MATTER HOW BAD the recession gets, it's times like these that turn our markets upside down which opens up a plethora of opportunities out there for property investors. Basically, right now there is an absolute gold mine out there which I and many others are capitalizing on. In fact we are doing a good thing by keeping the RE economy sector moving forward and stopping a domino effect of further chaos to some degree... So no, there is no need to ask "Charrissa, is your business suffering right now?". Because the answer is no, my business is booming during this downturn.
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