Achieving a goal always starts with action. Whether it’s BIG or small, nothing happens until you do something. There’s even a school of thought out there that says even doing something not completely right is better than doing nothing at all. Real estate investing follows that same set of laws. It’s easy to go to a semniar or watch a get rich quick video on YouTube and feel like you’re doing something. But it’s not until you pick up the phone to schedule a showing or knock on the door of the for sale by owner that you’re really taking action. The #1 question we get asked at The REIA of Macomb is “How do I get started?” We’ve decided to dedicate this month to “Getting Started”. Every training article that get’s released, our Live Event on August 25th, & even our Tweets, Instagrams, & Snapchats will all focus on how to get started investing in Michigan real estate.
The spotlight of this article will be on your “Core”. Now I don’t mean doing sit-ups and crunches. Your Core is what type of real estate investing you’ll excel at. No one knows you as well as you know yourself. If you’re a natural salesperson you-should be talking to people. If you’re a handy person-you should be looking at rehabs. If your a data analyzing maniac, maybe-you should parter with that salesy person I talked about earlier. Wherever your strengths lie is your Core.
Just because you’re strong in one aspect doesn’t mean that you can’t become great in another. It’s just with limited time you should focus on your strengths first, the add to your arsenal as you have success. Situations will arise that will push you well past your comfort point, and that
s great, that’s how you grow.
Most guests and new member of The REIA come in wanting to wholesale. Wholesaling has many definitions but most newbies think of it as finding a deal on a piece of real estate, putting it under contract, then selling that contract to an end buyer who will close on the property. The end buyer pays they wholesaler. It’s the lowest cost route into investing which is why so many folks start out wholesaling. So what does it really take to wholesale? Well there needs to be a decent price on a desirable piece of property. Then there needs to be a signed agreement between the wholesaler and the seller. Then the wholesaler takes that agreement and shops it around to investors like you and me.
Sounds crazy? Not at all. At every real estate networking event you’ll find dozens of hungry buyers who are looking for that great deal we’re talking about. Now here’s where taking action comes in. You have to go to these events, shake hands, ask for business cards, find out what exactly these investors are looking for, then when you find an opportunity you call them or e-mail them and let the, know what you have. It’s so easy to build a CASH buyers list in less than 3 months you should have over 100 names and numbers just by attending your local REIA’s. Now you may have to step out of your comfort zone to build this list. It may help if you do some research beforehand to help anticipate the questions you may be asked. I’ve met tens of thousands of real estate investors and probably 25% of them were new to the business so they didn’t know much. The ones who have succeeded are those who weren’t afraid to ask questions, look for deals, make offers, and eventually do some deals.
So this month The REIA of Macomb challenges you to take action, even if you stumble and find your path to Make It Happen!