Finding success in a new career field can be a challenge, especially when that field requires a lot of self-motivation and drive in order to rise to the top. That’s the challenge you’re facing if you’re a real estate investor. Many get involved in the real estate investing field as a part-time business opportunity but it’s an endeavor that can quickly evolve into a full-time gig. In today’s article from The Short Sale Gal Kristine Zelazo, we’ll explore a few traits and techniques that the top real estate investors utilize.
Succeed as a Real Estate Investor By Developing a Routine
When you begin to work as a full-time real estate investor, you’d be wise to establish a daily routine. Routine is important and it can add structure to your day. This is important for helping you to maintain your focus and maximize productivity. Routine also helps you to maximize your productivity.
Some also find it helpful to book appointments during the morning, as this gives you the motivation to get out of bed in the morning. Many find it easier to follow through when there’s someone holding them accountable. So if you struggle with finding the motivation to get started, get into the routine of scheduling your calls and appointments early in the day.
Succeed as a Real Estate Investor By Forming Alliances
The most successful real estate investors are avid networkers, forming partnerships and alliances with other investors, rehabbers, mortgage brokers and others who can help along the way.
Business partnerships and professional alliances can lead to some wonderful new opportunities that you would have otherwise missed. You can also join together by cross-marketing each other, connecting with potential buyers, sellers and other industry professionals.
Making professional alliances and forming those new connections won’t just happen spontaneously. You’ll need to work at and cultivate those relationships. So go out of your way to attend local networking events and form new, fruitful partnerships.
Succeed as a Real Estate Investor By Being Realistic
Many newer real estate investors find themselves overlooking some potentially profitable investment opportunities just because they’re not perfect or ideal.
The reality is this: you’re rarely going to encounter the “perfect” buy. Each property has its downside(s). If you wait it out and hope for a better deal to come along, you miss out on making money on a fairly good (but less-than-perfect) deal. So be realistic and don’t place yourself in a situation where you overlook a great deal because you’re looking for an incredible deal.
Also, stay realistic when it comes to how much you’re going to spend on rehabbing a property and how much you’re going to sell it for. One of the easiest ways to lose money as a real estate investor is to under-estimate the cost of rehabbing, while over-estimating the potential sale price. Therefore, ensure that at least one or two of your partnerships is with an experienced contractor who can give you an accurate figure on rehabbing expenses before you make an offer on a property.
Need Help Getting Started in Real Estate Investing?
If you’re getting started in real estate, consider working with a real estate investing mentor like The Short Sale Gal, Kristine Zelazo. Getting started in real estate investing can be somewhat challenging, but when done right, you can stand to make significant profits. You’ll have lots of advantages in this regard when you work with a real estate investing and short sale expert like Kristine Zelazo, better known as The Short Sale Gal.
Based in Florida, Kristine works with both buyers and sellers and she is an experienced negotiator. So if you’re an investor seeking to get started in buying short sales and need a great mentor or wish to pursue a short sale transaction for the sale of your property, turn to Kristine Zelazo, the Short Sale Gal!
To get started with selling your home, simply complete the home pre-sale form to provide Kristine with additional information on the property in question. Then, call 786.570.0360.