Real Estate Investing: It’s not in the property

Real Estate Investing: It’s not in the property

RECBL - Real Estate News

Thomas Edison was quoted as saying, “Genius is 1% inspiration and 99% perspiration.”

If you are new to real estate investing you probably have a ton of questions. Real estate investing is more than just the purchasing, owning, managing, renting and/or selling real estate for profit. Real estate investing, realistically, is a career and way of life.

There are people whom have chosen a path, who’ve pursued degrees to become lawyers, doctors and even bartenders because those career areas are compelling and give them reason to live a certain lifestyle.

I am not talking about getting a license to become a real estate agent so you can become the middle man of property transactions. I am talking about becoming a real estate investor which does not require a real estate license but does require skills such as patience, a willingness to succeed and most of all knowledge of the industry you call real estate investing.

To become successful in the real estate investing industry, here are 10 must-haves to help get you started in your new lifestyle.

Know Your “WHY?”
Ask yourself the main reason you are choosing real estate investing as your career and lifestyle. You may say money but go beyond the obvious and dig deep. Is it to help yourself, your family and/or your community? Is it to create a legacy which will continue long after you’re gone? Understanding your “WHY” will support your passion, drive, motivation and focus. Keep your “WHY’s” written down and close to you at all times so you never lose focus of your purpose for your choice.

Create Realistic Goals
This can be a tough one, however, if you have spent time on your “WHY” your vision for your goals will develop easier than you may realize. And in the same manner you have written down your “WHY’s” and kept them close to you, write down your goals and place them in plain view throughout your home so you can read them at every turn. In everything you do have purpose. Your goals are your roses, stop to enjoy them and remind yourself as to the purpose of your “WHY’s”. Maintaining that focus and passion will forge your goals into results.

Find a mentor
This step is probably one of the most challenging. Finding a mentor requires you to test your comfort zones and allow yourself to become a clean slate for someone to help you become what you have never been before. This step requires more than just visiting your local REI meetings and introducing yourself to a seasoned real estate investor. This step is about finding someone who is passionate about mentoring. Remember, a mentor is both an experienced and trusted advisor. A mentor is as passionate about teaching and mentoring just as much as you are about learning and being mentored. You want to find real people, with real knowledge who provide real estate mentoring and who produce real results in real estate.

Create a to-do-list
You’re probably thinking, “How many lists am I going to have to make?” The answer is, “However many lists it takes to help you get started and keep moving forward.”

Start with creating a simple to-do list. Make the list aesthetically pleasing so you are able to read it easily. You can create a daily, weekly and monthly to-do list. Whether it’s on a piece of stationary or your smart phone, make sure to create a list which inspires you to stay motivated and focused in order to get your tasks completed.

Create a minimum of three columns.

• First column: Task – what is task you want to complete (e.g. attend 3 REI meetings)
• Second column: Time – what time are your tasks to be completed? (e.g. REI meetings at 6:30 pm)
• Third column: Due Date – how soon do you want this task to be completed (e.g. Dec 1, 4 and 6)

This is just a rudimentary beginning and you can develop your own list to meet your needs. However, as you accomplish each task mark them off the list. At the end of the day you create a new list and move everything forward. Do the same thing with the end of the week and month. You’ll instantly see progress which will help you stay focused and motivated and before you know it, your goals become concrete accomplishments and results will follow.

Become the Socialite
Announce yourself into the market by telling people who you are and what it is you do. Your mindset makes a huge difference in how people will accept you and what you do. If you want to be a real estate investor then you must believe you are a real estate investor. Whether you’re a novice or pro is irrelevant, it’s all about your belief in yourself. You must embrace the real estate investor mindset and work ethic.

Advertising and Marketing Yourself
Vehicle signage, business cards and flyers still work, however you want to get your name on the Internet. Social media can help tremendously in this area. You can reach more people in a shorter period of time. Facebook, Instagram, Google+, YouTube are all fantastic ways to help get the word out about yourself. If people don’t know who you are or what it is you can do, breaking into the real estate industry can be even more challenging. The Internet is the number one area to get your business to the next level. Eighty six percent of first time home buyers hit the Internet first in search of their dream home. This step is definitely a to-do list item especially due to the positive impact it can make on your introduction.

Build a buyers list – Lead Generation
This is a critical step and everyone is trying to do this. This reason this step is so important is because you want to have a network of people who are looking for real estate, just like you. You want to find cash buyers who are accustomed to buying real estate for cash. You want to know what other real estate investors are buying and where they are buying. This step is all about lead generation. If you are looking to find real estate cash buyers there are many different ways from software purchases, real estate lead providers, visiting the county recorder’s office and getting a list of all cash sales in the last 30 days in your area. The goal is to find real estate cash buyers and their parameters so you have an idea of what to look for so you can find it, lock it down and flip it for a profit.

Deal or No Deal?
Now you are in the meat and potatoes of the real estate investing industry. Finding a deal may look easy for some and that’s only because they have done everything else already to make sure they can get to this point. The only way you are really going to be able to determine whether or not you have found a deal is if you run the numbers. Remember, if the numbers don’t make sense, then your deal is not a deal. Also, the deal not only has to be a deal for you, but also for the real estate investors you have connected with. You want to make sure you are able to win-win-win situation for you the seller, you and the buyer. It’s a balance you will have to learn to implement correctly.

Get an Agent
Some say this is a must. You probably remember reading earlier that a real estate license is not a necessity and it isn’t, however having a great real estate agent who knows and understands the areas in which you are interested in can be a real game changer. Also, you want to be able to find a real estate with an investor mindset as well. (You’ll understand this more in depth as you meet different agents.) An agent with an investor mindset will have a bettering understanding of you and your goals. You may have to meet with a few agents to determine who you feel comfortable working with but in the end it pays off and you can build a long-lasting relationship.

Continue your pursuit for your goals
This article opened with a Thomas Edison quote and we will close with a Thomas Edison quote. Thomas Edison was also quoted as saying, “Many of life's failures are people who did not realize how close they were to success when they gave up.” True, true, true!

You will experience obstacles in your pursuit for your goals. Obstacles are not dead ends. Obstacles are milestones on your path to success. Most people experience rejection and give up. If you give up you will never realize how close you were to success. When you experience obstacles, remember your “WHY’s”. Reach into whatever pocket you have your “WHY” list so you never lose focus of your purpose for your choice.

You can try doing all of this yourself or you can connect with a network of investors who can teach, train and mentor you in all of these areas. This is your opportunity to make a difference, not just for yourself but to accomplish the bullet points you have on your list.

Don’t wait, click here to connect and get started.

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Emerging Trends: Women Entrepreneurs and Single Women

Emerging Trends: Women Entrepreneurs and Single Women

RECBL - Real Estate News

With new trends developing at a rapid pace, driven by housings changing landscape and the prevalence of technology, it’s essential to know what lies on the horizon. Two of the most important and fastest-growing markets today are women entrepreneurs and single women.

Women Entrepreneurs
According to Ernst & Young (EY), women are starting businesses at 1.5 times the rate of men in the U.S. While the number of women entrepreneurs is growing at a rapid pace, the National Women’s Business Council (NWBC) reports that 89.5 percent of women-owned businesses employ no one other than the owner and data from the SBA Office of Advocacy shows that 60.1 percent of all firms without paid employees are home-based.

These growing women entrepreneurs want a place to call their own for their personal and professional lives, a sanctuary for themselves and their families, as well as a stable location from which to grow their business. Homeownership for these women entrepreneurs is precious; they’re capable risk-takers making an impact in the home-buying market just like in the business world.

Single Women
Single women homebuyers are on the rise. As the National Association of REALTORS(R) (NAR) reports, single women comprise 17 percent of homebuyers in the U.S., compared with 7 percent of single men. Moreover, according to the Census Bureau, of the 116 million currently occupied housing units, single women comprise 13 percent; in contrast, single men make up only 4.8 percent.

With a (slowly) decreasing wage gap and increased presence in high-paying jobs-between 1970 and 2010, women civil engineers increased by 977 percent, pharmacists by 434 percent, physicians and surgeons by 334 percent and lawyers and judges by 681 percent-women’s buying power is growing substantially. Furthermore, the Department of Labor (DOL) reports that the unemployment rate for women is 4.8 percent, a significant decrease from 9 percent in November 2010. In addition, Census Bureau data shows that on average, women are entering marriage at age 27, compared to age 21.5 in 1940.

This independence coupled with increasing wages and labor-force participation is helping women transform their homeownership dreams into reality. A home is a woman’s sanctuary, a place to call her own, an invaluable asset that cements ones professional progress and economic foundation. The desire to own a home is an enormous driving force in women; they’re doing what it takes and sacrificing in order to become homeowners.

Where are single women buying? A recent survey from Owners.com found that the top 10 most popular metropolitan statistical areas (MSAs) for single women to buy homes share affordability. Specifically, these markets are 70 percent more affordable than the next 10 markets.

There may be a buzzing market of women homebuyers in your city, so make sure you’re prepared to serve women clients. Leveraging your female agents, or your presence as a women-owned brokerage, can maximize your appeal to women buyers looking to work on their home search with women. The business is here and growing. Are you ready?

DesirEe Patno is president and CEO of the National Association of Women in Real Estate Businesses (NAWRB).



For more information, please visit www.nawrb.com.

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Think Like A Flipping Female

If you are just starting out, becoming a real estate investor can be challenging. In today’s women’s entrepreneurial world, there may be even more challenges. If you are a woman with an entrepreneurial spirit, The Flipping Females can provide you the guidance and mentoring you need. Flipping Females, real people, real results, real estate investment mentoring.
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