Step One: Self-education
You do not need Real Estate experience to do this, though it does help. The only way to find a good deal is to look at a mountain load of bad deals. Once you have seen enough duds, you will know which one is worth taking a shot at. An experienced Realtor or investor can teach you how to do this. BEWARE, there are many snakes in this business. Unfortunately, the way most people find out is by getting screwed over. Some people never learn. I took every weekend seminar I could afford. The first one cost me $199. I left with invaluable, life-changing information. I will never forget that weekend and Wayne Morgan from Austin, Tx. Go learn something, anything, change your life and do what you want to do. Make a plan and go do it. TAKE ACTION!
Step Two: Take Action
You can wish and dream all day. A great idea is only great when you take action and stare fear in the face. You can spend your whole life dreaming and work yourself to death wishing you took that first step. I did, but I was lucky enough to lose $80k on a two-home deal by procrastinating. Not a day goes by that I don’t think about how that one transaction could have changed everything. It still stings, but I learned never to wait. I could have saved this family from foreclosure, and they would have walked away with cash and an opportunity to start over. Instead, we both lost. My fault, “never again,” I vowed. So, I kept searching and found this home I made $7,500 with. It only took me two hours of real work. I got the seller the price he wanted, and I found an investor willing to pay $7,500 over that price. Why would the investor pay me $7,500? He was going to make well over $40k when he rehabbed and sold this home. Win/win. That’s what I was taught. If everybody wins, do the deal. If not, well, you can’t run from karma forever. Greed will kill you. Don’t be “that guy.” I was told I couldn’t be an investor and hold my Real Estate license. “Too risky,” everyone told me. Disclosure! That’s all it takes. If everyone knows what is going down, there are no worries. The sad thing is, many investors take advantage of that truth and take people to the cleaners. SELLER BEWARE!
Step Three: Tell Everybody
Your welcome! “For what,” you ask? Here is one sentence that will change your life like it did mine: “Do you know anyone looking to sell a home?” Ask everyone you meet that simple question and you will find that every day you do, more often than not, find someone who really needs to sell. That’s where you come in. TELL EVERY BODY you buy houses and watch your life change. Why would I tell you this if it’s so valuable? Simple. If you want to become wealthy, you teach people to become wealthy. I want everyone to quit their job and do what they love most. Whatever that may be. I love napping. My goal is to raise enough capital to purchase cash-flowing properties that will pay me enough to take a nap whenever and wherever I want. “Success is doing what you want to do, when you want, where you want, with whom you want, as much as you want.” -Tony Robbins. Will you work 40 hours a week, for 40 years of your life, for 40% of your money? Are you doing what you love most, with who you love most?