New in Real Estate Investing? Here is what you need to do to in first 30 days

The first 30 days is essential to your real estate investing success. Here are the minimum action items that you need to do.

Move around with compatible people

Creative real estate is nontraditional that simply means most people don’t like it. Thus most people speaking to you may say it won’t work. Most attorneys and other professionals would criticize it, as it sounds unusual. You need to keep in mind that these people are unsuccessful or do not know to do business in this field.

The first thing you need to do is to join a local real estate association (REIA). These local associations help you keep your thoughts in the right place and to prove that it really does work. If in case you do not find a group, form a “mastermind” group, which meets up once a week.

Have a Team

Do not wait for people to come and join your team. You should find the following players for your team:

  • Attorney – Preferably one, who does real estate investing deals for himself as well as for others.
  • Insurance Agent – Find one, who knows land contracts, landlords, etc.
  • CPA – Find one CPA, who is aggressive and has his own real estate.
  • Contractor – One who would give you free estimation’s and knows how to “cut corners” in the right places.
  • Mortgage Broker – One who is confidence, very creative and experienced with real estate investors.
  • Partner – Only in case you require it for money or experience.
  • Mentor – Someone you could always call to smooth out the rough spots.

Keep Educated

“If you think education is expensive, try ignorance” is a popular saying. You could lose more money with just a mistake than you could learn how to avoid one. Even if you have been in a business for years together, you need to keep you self educated on current trends and laws. It is better to attend real estate seminars which provides good information, gives way to more income and prevents a lawsuit.

Treat This as a Business

People are attracted to real estate investing because of the fast buck that it promises to the investors. In fact real estate profit takes months even after years of cultivating customers. You need to treat it like other business. Give it time, effort, attention and perfect professionalism, and you would find it flourish to its best.

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