10 Things You Must Know When Picking A Real Estate System
If you're new to the Real Estate Business, or looking to increase your profits and decrease your risk, you'll need to get some training
. But finding the right methods and systems to use can be tough!
There are 10 things you must know to avoid getting ripped off, lied to, and robbed of your hard-earned cash when picking a real estate system:
1. First, you need to learn up to date techniques.
Many so called 'Guru's' teach out-dated and dangerous techniques- but the truth is, those techniques haven't worked in 20 years! If you paid someone to teach you those, get your money back!
New Investors are often told to learn from someone who has "been there and done that"- but that's absolutely wrong! You want to learn current techniques and strategies from someone who not only did that, but is still doing it today!
2. You must know that the System you're using works in the Real World!
There's a lot of Seminar talk floating around in this business- and it's total crap! Nothing makes people in the Business want to work with you less than seeing 'and/or assigns' on your contracts! If you were taught that, see #1 for what to do. :)
3. You must know that the techniques you're taught will work WITHOUT risking your life savings or retirement money, and without putting your credit on the line.
Too many people learn how to buy houses with a system that only works if they borrow their life away or save up a huge down payment and pour it into Real Estate. You need to learn a System that will allow you to buy properties WITHOUT those risks.
4. You MUST be able to generate short term Cash profits!
If you can't afford to stay in Business, you won't be in business for long! You need spendable, bankable, pay-your-bills-or-buy-new-toys cash! The more the better.
5. You must avoid banks.
Banks will stop you cold in this business. In the real Real Estate Business, there are no banks, no committees, and no long drawn out loan approvals. You can't 'steal' in slow motion!
6. You must be able to build monthly cashflow.
Passive income is the true measure of wealth. 'Nuff said.
7. You must avoid becoming a landlord.
Tenants and toilets that are your responsibility to baby-sit and fix will stop you dead in your tracks.
It's called the Landlord Trap, and it's killed more careers that any other factor in this business.
8. You must avoid Liability.
As soon as you create wealth for yourself, someone thinks you owe them a piece. You must know how to buy and sell properties without exposing yourself to liability and lawsuits.
9. You must be able to get results quickly.
You should be able to get to your first deal within 30 days, and you MUST be able to get started without risking a fortune in down payments or on wasteful, inefficient ways to find deals.
10. It must be simple, easy, and fun!
Follow these ten rules, and you can be sure you avoid the most common traps so many beginning Investors fall into!
by: Jason Loucks
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