My name is Don Mayer and I have been investing in residential real estate since 1988. Throughout the years, I’ve had many and varied experiences that I want to share with you. Experiences that I believe can help you in your investing journey.
Along with my experiences, I also have plans to write about topics that would be of interest to new investors like, “How-To-Do It” articles, mistakes to avoid, investing strategies that work in today’s market, product and course reviews, and much more.
Cash Poor real estate investing is investing using little or none of you own money. Whether or not you have any money is not in question. The idea is learning investing techniques that make it possible to put deals together with little or no cash out of your pocket. It will of course be necessary for you to put money into the deal. It will have to come from somewhere. If you don’t have any, you can borrow it or partner up with someone. It is always better to have some money put aside for your deals. You don’t want to go into a deal “broke” so to speak. You will usually have some marketing costs and escrow expenses on each deal.
Blogs “Coaching” Focus
My blog will provide down-to-earth usable information. Information that you can understand and apply in the market place. There are other blogs, internet sites and Gurus who talk about investing topics, that are more “pie-in-the-sky”, rather than investing strategies that you can actually put into practice. These investing ideas are discussed up to a point, but then you are left hanging with little or no information on the next step to take or what dangers to avoid.
I’ve seen many presentations that generate a lot of hype and excitement, but lack the true ingredients necessary for success. Ingredients that involve more of a step by step process and when necessary some hand holding. Granted, some new investors can take the ball of new information and run with it, without much help. Then again, other new investors need more. They may need more of a personal touch. Someone else who knows where they currently are in their investing journey and the difficulties and challenges they may be facing.
I want and intend to be that “someone else”, who can come along side and enter into whatever struggle is being experienced. Believe me when I say, “I’ve been there”. But the struggles are only part of the process. A large part of the growth process to be sure, but we can’t neglect or forget the joys, excitement and rewards to share! That first property that you flip, the first lease option assignment, when you hold that first check made out to you for several thousands of dollars!
Patience and Determination
This what real estate investing is all about. The joys, disappointments, setbacks, and rewards that come with the day-to-day investing life. Always remember, real estate investing is a process not an event. Smart investing takes time and patience. It can’t be rushed. You are developing an investing style that begins with the first step.
An important point to keep in mind, is not to expect your first step to be a giant leap forward, like some who report outrageous fast cash being made in a very short amount of time. This is usually advertising hype to get your greed glands wide open. Keep your feet on the ground! Yes, there at times when exceptional deals happen, where someone will put together a deal that makes them a lot of money quickly. However, this is the exception not the rule.
Most new investors enter the market slowly. They need time to digest the learned experiences. Quick profits without much work can be a disaster down the road. Unrealistic expectations for future similar deals may not materialize and throw the investor into a tail spin.
As the saying goes,” Rome wasn’t built in a day”, and neither is a real estate empire. With time, knowledge, and application you can build whatever size real estate empire you desire. It can be big or small. You can work in the market place part time or full time. It is whatever you decide. I will be here to help you and walk with you on your journey to real estate wealth.
Okay, enough said for now. By the way,congradulations! You have just taken your step by reading this article. Now, what to do next.
1. Write out your reasons why you want to be a real estate investor. Be specific.
2. Think about what investing strategies appeal to you (those you are aware of) and put your thoughts about those strategies on paper.
3. Think about how much time you plan to devote to your investing (if necessary, discuss this with others in your family) and write out your
4. Watch for my next post, The Best Investing Strategy For Success.
Until then, think investing.
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