Beginners Guide to Success Newsletter

Put your "millionaire mindset" on. Let's review common attributes that are essential for your
success in real estate investing. Take these components "to heart" and apply them every
single day in order to achieve your goals. Let's get started.

1. Do you have the persistence to look at hundreds of properties in order to narrow
down a deal that matches your passive income goals? If not, I suggest you evaluate your current level of commitment and go back to the “main reason” why you want to become financially free! Don’t worry… I’ve developed a formula that will enable you to look at hundreds of properties weekly or even daily in order to achieve your investing goals!

2. Can you give yourself a commitment to practice the formulas and strategies that are
essential for success in your daily, weekly, and monthly routines? When Dolf De Roos (a famous real estate investor who never even had a job) stated, “The deal of a lifetime comes along once a week”, he was absolutely correct. You won’t find them if you don’t know where and how to look!

3. Honesty and integrity are vital for starting and maintaining a successful business.
Will you be honest when explaining your investment goals to friends, family and
peers? What might they do to hold you back and how will you face their criticisms?
A successful businessperson is respected, admired and most importantly

4. Can you maintain a positive attitude through good times and bad? This is part of
the game and the sooner you realize this, the sooner you will reach your goals. This
was the hardest part for me to comprehend. I believed that if I did something exactly
as explained that I would never run into any problems, and that everything would
turn out perfect. I was far from right. In my book I made it a major point to give
everyone stories of how I’ve turned negatives into positives and how quickly things
can change. The most important part is to “keep cool” and stick to your game plan.
No investment should be evaluated emotionally, and decisions made during the
stages of acquiring an investment are treated the exact same way!

5. Are you willing to implement "continuing education" as a strategy to achieve your
short and long-term goals? The last component is vital because, “he who thinks he
knows it all is bound to fall”. Are you willing to take on new educational projects that
will be completed in specific time frames? This can help you achieve success in the
most efficient way possible!

If you’re getting excited than great … you should be! If not, I understand. Things can be very overwhelming and I will be the first one to admit that it took a long time to recognize the tools enabling my success. I have to admit that I wanted an “easy way out” or a “quick fix”, but I found through trial and error what works. This is what I want to share with you. I don’t like seeing people fail and I want to do everything in my power to create tons of successes!

Let’s move on to the next lesson titled typical beginner mistakes. We won’t go into a ton of
detail here but I want to get my point across on some major issues. The rest will be covered
in gruesome detail within my book “Real Estate Investing Smart from the Start©”.

Typical Beginner Mistakes

Over Analyzing*

I am a “stickler” for performing the necessary due diligence when evaluating an income
property. Some people think that I take it a little too far by dragging economics and market
indicators into the mix, but when an opportunity “presents itself” I can take advantage of it immediately by having my game plan in order. Can you pull the trigger and recognize an opportunity or will you always find a reason to pass it up? We’ll identify this and how to truly evaluate your risk factors in my book coming out in September 2003!!

No Game Plan*

I was guilty of this for a long time, so I know how you’re feeling if you fall into this category.
I thought… when a good deal comes along I will just jump on it and start my real estate
investing career. This is the exact reason I made most of my mistakes! Investing is just like any competitive sport. If you go out there and think you can be ahead of the game with a little knowledge and practice without a strategy and competitive analysis....your competitor is going to annihilate you! Think of your competitors as the thousands of investment property sellers waiting to take your hard earned cash... knowing that you don’t know what you’re getting into. They know that you’re a beginner and you most likely do not have a game plan. They know that you will be easy to take advantage of. I’m going to show you how to prevent

Working with Lenders*

The first step you must take before “prospecting” for potential lenders is conducted during your self-evaluation described in more detail in the next section below. I wanted to go over this information twice as a reminder of how important it truly is!
After the self-evaluation you must determine what lender will work best with your specific
loan request. My suggestion is to utilize a mortgage broker that will be aggressive and shop your loan request to numerous lenders … making your life easier and giving you a better chance of obtaining the money you need in order to close the deal.

The best approach is being extremely honest right up front about your overall financial
condition and credit score. The initial phone call or e-mail will allow the mortgage broker to
determine which lender will work best with your specific individual situation. You will be
amazed at how much respect you’ll receive when you display this level of professionalism!
Mortgage brokers enjoy working with an organized, honest & accountable person. It
makes their jobs easier and they will work harder to get you the loan.

IMPORTANT TIP:

If you want to go a step further and make an extremely memorable impression on a
mortgage broker tell them about your overall game plan! If they see an opportunity for you
to be a steady client who can give them residual commission you will win their support. You will also be incorporating an important lesson in becoming financially free ...developing your team of advisors. This is and should be a major part of your overall game plan.

Where are You Now Self-Evaluation*

This is an important step that you must take seriously! Too many beginners forget this step
and then wonder why everything doesn’t work out as expected. I know because I did the
same thing! I was more interested in content instead of context! Let me explain.
I was more concerned with going out there and “making it happen” without truly evaluating where I was and where I wanted to go. It’s like going to the Super Bowl without a playbook and strategy expecting to “wing it” and win! You must make this step part of your game plan and we will be covering this topic step-by step in my book, so you can take advantage of this critical action item!