4 Key Principles: Motivation, Education, Determination, and…

Let’s start be getting motivated. Whether you are planning to loose weight, run a marathon, or invest in real estate, motivation is where it all starts. We all know the feeling of excitement especially when the outcome of our goals is so obtainable, such as in the case of real estate investing.

How many times have you seen or heard a story of real estate investors making huge profits from simple business models. As a matter of fact I just heard one. It involves wholesaling distressed properties. Basically, buying real estate in bulk and then selling off the individual properties. In this case, a group of investors joined together and purchased homes for pennies on the dollar. They found a large number of distressed home in a small area. They were able to purchase homes valued at $60,000 for around $12,000 each. Of course this dropped the overall value of the area, but this was no problem. After they purchased the homes they lowered the amount owed by the distressed owners. They dropped the amount owed price to $30,000. The sellers could either continue to live in the home and make payments based on the $30,000 value or sell the homes and actually walk away with money in their pockets. Many owners sold their homes for around $45,000, paid the investors $30,000 and walked away from the stress and hassles of their distressed property. This is a simple plan with little risk, and huge profits for the investors

The second principle is learning how to do it. There are many networks of investors out there that will help. You can buy books, go to seminars, or hire consultants to help you. In the example case above, the hardest part would be setting up the business structure to include multiple investing pooling their money together. Of course this has been done many times before and you can easily find out how to do it.

The third principle is to believe in yourself. Be determined to succeed. You are going to run across many people that will tell you the plan will not work, or that you do not have what it takes to reach your dreams. Worse yet, many times it comes from friends and family. You have to put that behind you. I’m not saying ignore everyone that does not see your vision, but you will find people that have never before invested in real estate, tell you how to do it. Bottom line, listen and learn from the experts and ignore the ignorance.

Lastly, get out their and do it. You might stumble along the way, but if you learn from your mistakes, it will never be a failure. I believe in the 80-20 rule…20% of your actions bring in 80% of the gains. In other words, don’t waste your time getting ready to get ready. Buy the books, go to the seminars, but at the same time get out there. Your actions, along with your motivation, education and determination will help you reach all your goals.