From the desk of C.J Lauria
In my many real-estate-investment-related articles, I have at times stated that we are faced with the “perfect storm” for wholesaling investment properties. While the current state of the economy and housing market is prime for real estate investing, there is another factor that we have not yet considered. I would like to address the present financial status of the many desirous of starting a home business in the real estate industry. As many of my readers know, my company, Invesdoor™, came up with the “Mentor for Life”™ plan for entrepreneurs across the country. Each week my team interviews scores of sincere entrepreneurs looking to break into the exciting world of real estate investing. Historically, one had to have a huge “war chest” of cash and excellent credit to successfully accomplish branching out into this type of career. What my team discovered is, that there are a plethora of very intelligent, motivated folks across the U.S. that are themselves victims of the economic reversal in the housing market. Yes. Many who are looking for a real estate mentor and apply to enroll in my mentorship are themselves ones who have suffered damage to their credit and possibly even lost their own homes. That is why wholesaling is a prime avenue for newcomers into the REI home business arena. In fact, you need neither a lot of cash or good credit to make a good living as a wholesaler. Of course, real wealth will come through actual ownership of investment properties in time. However, in the meantime, with the proper mentoring someone with neither a bunch of money or great credit CAN break into this industry. I suggest a long-term plan, maybe 2-5 years if one wishes to become completely financially independent. It is possible. It is being done right now. Certainly, without proper guidance, it’s not likely that it will happen anytime soon…if at all. The key is first your attitude, then finding a seasoned mentor that you can afford with excellent teaching skills. You can find self-proclaimed mentors anywhere, but do they really have valuable experience to offer and are they skilled in the art of teaching. If you find a real estate mentor with those qualities you may have struck gold. There are some factors, though, that you will want to be on guard for. I will address those in my next article.
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