I would like to first introduce myself to you. My name is Todd Clark and I am a Realtor. Like you I have seen those late night commercials and even made some investing mistakes in the past. Let me tell you something as an investor myself, why spend thousands learning from a guru what you can learn for free with a little time and effort? Did you know that 97% of people who buy the books and CD's on the internet, just end up placing them on the shelf when they get home to never open them again?
What most people lack is motivation! Motivation is what got you to buy the book or CD at the seminar in the first place. What happens is you get in a rut at work and tell yourself you need to make a change. You see the commercial that night and either orders the books or CD's that night or run to the free seminar next week. They tell you how you are going to be rich and never have to work again. You spend thousands of dollars, buy everything and then get home go to sleep and never do anything with those books again.
Wha you need is the motivation! How can you do this? Find a great Realtor that understands investment property, such as myself (Yes shameless plug) and let them be your motivation. I'm not saying I'm going to force you to buy property after property. I'm just going to give you the motivation and the knowledge how to make money with investing at no cost to you. Why would I do this? Because I know if you start to understand how to make money investing from me, we can be of a great service to each other.
Now for the common investor mistakes and how to avoid them.
1. Buying thousands of dollars in signs, post cards, and flyers and not having a plan to back them up if someone should call on one of you ads.
2. No tlearning how to identify properties that have investment opportunities and if possible have a buyer for the property prior to you even putting an offer on the property. (I presently have one buyer that we'll actually buy fixer properties that fit the criteria of an end buyer we already have lined up. We have it SOLD before he even buys)
3. Not deciding what your niche is and stick with it! Is it plexs, fixers, rentals, foreclosure or short-sales? Stick with oneand focus on that and only that. Once youhave mastered that one niche and are making lots of money then you cantake onother niches. But, master one before going on to another.
4. Reinvent the wheel! There have been a lot of investors before you and many have great ideas that work. Find the one that works for you and maybe modify it a little to suit wants and needs. But, don't try to start from scratch. I have built a team of investors that believes you get by giving and they are very open about sharing what has worked for them and what hasn't. Why would they do this? I've been told there isn't enough time or money in the world to own every property and it makes them feel good to help others. That is why they got in this business in the first place. The more I give, the more I seem to get back and it makes me feel good to help others like you.
5. This is the big one! Don't spend more than you have! Don't max out credit cards or empty your saving account to try to make a deal. More times than not, that is a sure fire way to put yourself in bankruptcy court. There is more than one way to get this done than putting yourself in to debt. Just ask, someone has a way, you just need to learn it.
You can even buy your first investment property tomorrow with no money down and no credit.
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