Real Estate investing has been a popular source of income since the beginning of our country’s history. It’s taken many forms over the years. Investors have profited by holding onto property as landlords, wholesaling, rehabbing and flipping, etc.
Though you can make pretty good money and QUICK CASH Real Estate Investing is not a get-rich-quick scheme. If you’re just becoming acquainted with real estate investing, please take the time to go back through each of my investing how-to articles. Your first investment in this business is in YOURSELF.
Here are six tips successful investors must know as they build their businesses. Following these steps will catapult you far beyond the competition.
1. Be Knowledgeable
Your most valuable tool is your education. Knowledge is power. The more you know, the more you’ll grow. As an opportunistic investor, the work you do now learning about different investing techniques and strategies will help you avoid the pitfalls and streamline your experience as a successful real estate investor.
Know your business and what role you want to take in it and then stick to it. Real estate investing can be quite lucrative if you are educated, informed and patient.
If you think it’s expensive to work with a coach or be educated using resources like REIClub.com, just think about what it costs you when you don’t invest in yourself. Knowledge is power.
2. Be Visible
There are a variety of marketing methods that will help fuel your success. Set aside even a small budget and begin immediately. Your marketing efforts will magnetically attract clients and prospects.
You’ve probably heard before that people do business with those they know and trust. If this is the first time you’ve heard this adage, it’s the cornerstone of any business.
In order to be known, you’ll need to get noticed. A great way to be noticed is to use attention-grabbing advertising. Use as few words as needed to get your message out.
The most important element of building your investment business and closing sales is earning trust by Telling The Truth.
3. Be Honest
Sales people aren’t always received with open arms. Some are perceived as sneaky and crafty, with only their own best interests at heart. Cultivate a solid reputation and you won’t have trouble building your business or receiving referrals from satisfied clients.
Once you begin working with people BE HONEST. Let prospects know you work with associates and this is how you earn a living. You’re in this business to make money, but also to help people. Always look for win-win opportunities.
4. Be Thorough
Your telephone questionnaire will equip you with the information you need to make good decisions for you, your buyers and sellers.
Take your time.
Learn which questions to ask and how to ask them. Don’t be afraid to ask sensitive questions. Prospects will often volunteer much of the information you need if they feel comfortable with you. Make them comfortable!
5. Be Creative
Take into consideration all of the information you gather from your telephone questionnaire and learn to do the math. The answers you get will lead you to the best opportunity for all parties involved. There are all kinds of real estate investment deals you can make. Be creative, but be smart. Sometimes the best deal is to walk away.