Pull The Lever & Make a Wish

Is Real Estate Investing for you? Maybe So, maybe Not! In this day and time we all want to make money. I want to learn how to make money in real estate. I’m sure you know quite a few people that want to know all about making money with Real Estate Investing. Well folks it’s simple. Join one of those get rich quick money programs and sit back and watch the money roll in.

Ok, now that we have left that dream behind and come back down to REIality, let’s get down to it. It’s like any other investment you make. First, find something you can buy with the money you have. Look at what it would take to fix it up. Next depending on if you want to sell it or rent it how much you going to charge? If you sell it you got to take the brokers percentage into it and how much it would sell for. Subtract all the money you put into it and what you get from it and bingo you made a profit. Now if you want to rent it how much money can you charge a month? Remember you got to pay the mortgage and put back for repairs. So you have to charge enough for all of that and hopefully you’ll have a little spending money left.

Now I hope your dreams aren’t ruined, but folks this is a hard job. It takes determination and a mindset aligned with achieving Real Estate Investing Success. I know you see all these people on TV making tons of money while there on vacation, but lets get real for a moment. If you worked at McDonald’s do you think they would pay you while you played and never came to work? This is a job not a fantasy. This is the mindset that you need to retain. I’m not saying that you can never have any FUN in this business, but don’t ever think of Real Estate Investing as ALL play with NO work. It just does not realistically work that way.

Don’t go into Real Estate Investing with your blinders on, thinking you’ll be the next millionaire. Most fortunes are made from real estate, but as I mentioned, it WILL take Work! Your just making yourself look like an idiot and wasting peoples time if you don’t have the right mindset and approach. Read and study long before you ever think of buying your first house to invest in.

Think about the house you’re in now. How much do I pay for this house? How much did it take to build this house? How much money do I spend on repairs? Can I afford to lose my money if this doesn’t work out? What happens to the house I’m in? Will I lose my house going after a dream?

So with all your questions answered your ready to buy. Wrong! Are you sure you know what you’re doing? Ask around and see if any of your friends have done this or thinking about doing this? Bring them into the group let them help and split the difference. If you do make it the profits will be a little less but better than losing all your money.

Join the conversation.