Real Estate Investing Jump Start

There are a few simple steps you can duplicate for success:
Establish your real estate business


  • Determine the business set up

  • Develop a business plan

  • Order business cards, letterhead, and any office supplies and equipment


Set long-term and short-term goals; determine the results you want to achieve; focus on the goal and not the journey. Goals must be:


  • Specific and measurable

  • Use action words

  • Believable and achievable

  • Include target completion dates


Set up your letters to property owners and telephone scripts


  • Call 20 motivated sellers per week

  • Research and inspect properties


Visit Courthouse


  • Obtain property information and valuation at the County Tax Assessor’s office

  • Locate deeds and mortgages at the Recorder’s office

  • Become familiar with researching data


Locate and identify legal newspapers


  • Study types of legal proceedings, lawsuits, judgments, etc…

  • Use Trustee’s Sales and Sheriff’s Sales to find upcoming foreclosure auctions
Attend a foreclosure auction


  • Learn process and terms of the auction

  • Identify what the financial requirements are when purchasing at an auction; which mortgage holder is foreclosing; what happens if a bid is successful; and what are the penalties for non-performance


Establish a working relationship with a realtor. This relationship:


  • Can help you obtain property comparisons known as comparables or COMPS

  • Can be mutually beneficial. You can provide leads to the realtor for listings and sales


Make business contacts


  • Build your power team of: bankers, title companies, attorneys and accountants

  • Join real estate investment club in your area


Spread the word that you are now a real estate investor


  • Distribute business cards

  • Build a referral network


Practice completing contracts and agreements


  • Familiarize yourself with the necessary real estate forms


Attend real estate Training classes and seminars often

Attend with a positive, willing to learn attitude



  • Take extensive notes and ask questions

  • For hands-on training, inquire about "Mentor Programs"


Find a coach that will help you with


  • Answers to specific questions

  • Review of your property proposals

  • Writing an offer


SETTING GOALS
Do you have a target or a goal? Taking responsibility for your actions is a vital element in developing self-discipline. There are some common personality traits that might account for the differences between the "haves" and the "have-nots."

The "Haves":

Desire/Drive
Commitment/Dedication
Education
Courage
Optimism
Determination
Discipline
Experience
Perseverance
Organization

The "Have-Nots":

Fear of the Unknown
Procrastination
Lack of Education
Complacency
Poor Self Control
Fear of Success
World of Scarcity
Skepticism
Low Self-Esteem
Hopelessness



Never share your goals with anyone unless you know they not only believe you can achieve these goals, but they also want you to reach them.

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