Thursday, 19 October 2017

Four Qualities Needed As a New Real Estate Investor

Written by Posted On Friday, 16 June 2017 15:27
Are you thinking about becoming a real estate investor? Do you wonder if this is something you can do? You are not alone! Many potential new investors wonder if they have what it takes to be an investor, especially if they need to continue their day job.
 
Here are four qualities new investors need. If you have these, then your chances of success are far greater.
 
Quality #1: Dedication
 
There isn't a goal around that doesn't require dedication, and real estate investing is no exception. In order to find success, you are going to have to be dedicated to:
 
• Research • Learning • Visiting properties • Making contacts • Following leads • Spending time
 
The more time you dedicate to the process, the more successful you will be. Think about where you will find the time, especially if you continue to work. It may require using lunch hours, staying up late, getting up early, or working on weekends. If this sounds perfect for you, then you have the dedication needed to move forward and begin receiving a reliable cash flow from your investments.
 
Quality #2: Perseverance
 
In addition to dedication, you are going to have to persevere. When things don't go as planned or when things get tough, you need to have what it takes to stick with it. When buying properties, there are a lot of things that can feel like a hassle. For instance, you can only see houses in the evening, but the person showing the house can only show in the morning. Having perseverance will help you find solutions. Those without perseverance tend to quit when problems mount.
 
In general, you need to prepared to look a way more houses than you buy. Many will simply not meet your specifications. However, if you can persevere, then you will find the right house and begin to see a great ROI.
 
Quality #3: Organization
 
Buying property can be very hectic. There is a lot to do and to coordinate. That is why it is important to be organized. One of the best ways to be organized is to have systems in place so that you aren't reinventing the wheel with each purchase. Other things to do to be organized include:
 
• Setting alarms • Finding a good paper or app planner • Balancing time / Making time for family, fun, and hobbies
 
 Quality #4: Know How To Delegate
 
You simply cannot do it all. That is a fact. That is why it is important that you know how to delegate tasks to people that can do what you cannot.
 
There are many things a real estate investor can hire out to others. These include someone to:
 
• Negotiate purchase prices • Locate properties • Sell your property • Do the legal paperwork • Inspect and assess the properties • Repair and renovate • And more
 
If you are going to work full-time while beginning to invest, you will find that a team approach will be far more successful and enjoyable than trying to do it all on your own.
 
If you have these four qualities, then you are primed for success in the field of real estate investing. To learn more, feel free to contact me. I'd love to help you get started.
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John Trautman

John Trautman has spent his entire adult life in real estate. Purchasing his first property at 23, he learned the process of flipping and real estate holding from the ground up. Real estate continue to be his passion while he spent eight years as an account executive and later a vice President for Washington Mutual in the mortgage division. Holding the position of President’s Council and several years of President’s Club, he learned the lending business from the mortgage office perspective and lender perspective. Throughout his life he has also been a small business owner, commercial real estate holder, property designer, and house flipper.

During the downturn, John followed the deal to Detroit, Michigan, where he invested in single family rentals and multi-family dwellings. Once his returns were realized, he moved quickly to Arizona to invest in another distressed market.

His passion for making a deal and real estate has lead him to create a hands-on real estate investment mentoring club called Real Estate Knowledge Institute

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