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The Beginner Investing
By Peter Conti
It’s no secret, each year thousands of people catch the home business bug and set off on an unknown course. It’s also no secret that investing in real estate can be one of the fastest vehicles for accumulating wealth.
Investing in properties is an excellent home business for mature, serious people. Great results can be had from devoting 10-15 hours a week to it. And I know of many very successful people who started part time. But...
It can be like looking up at a mountain when you don’t know what to do or where to start.
The beginner real estate investor is at the most fragile and critical stages of his or her investing career. Quite often failure, or deciding to quit after lack of initial success, results from a small handful of very basic reasons.
And they all point to one word...preparation. Lack of preparation leads to a host of problems down the road.
I’d like to share some heartfelt advice for you, the beginner investor. What follows is something I’d personally tell anyone who asked me what’s the very best way to start investing in real estate.
First, you need to make a totally honest assessment of yourself. The intent is to decide if investing in real estate is right for you.
Don’t even fall prey to the usual objection I always hear from people!
I don’t have enough money to invest. Or, my credit isn’t good enough.
There are lots of ways to get started if those two statements apply to you. You just need to have the right information to learn how to do it.
What qualities make you a good fit with investing?
· Maturity and a solid idea of reality. Investing is not hard to learn or do. But it does take effort. And you need to understand that it’s not an overnight wealth vehicle. Remember...reality.
But the flip side of that coin is this: Don’t think it takes decades to become wealthy through investing. There are thousands of stories, and many people I know, who built a six figure income and asset portfolio in several years, or less.
· You need to be able to make a commitment to investing.
· The ability to sustain focus, especially in the early stages. I’ll bet that maintaining focus won’t be a problem once you have several profitable deals under your belt.
Second, do some research and try to get an idea about exactly what you want to invest in. I’d highly recommend you don’t base this decision entirely on profit potential. And I’d urge you to get some experience before investing in advanced areas like commercial properties.
There are a number of options for the part time investor. And each one has it’s own pluses and minuses. But make sure they apply to you and no one else. Evaluate and decide what will work for you and your particular set of likes, dislikes, talents, etc.
Third...become educated! Once you’re at this point start researching and learning. You may need to incorporate this stage with the second in order to make a solid, informed decision.
But once you know what really appeals to you, then go for it.
Research and learn from successful, accomplished real estate investing teachers. Many of them offer excellent courses for investing in every area of real estate. Get to know them, subscribe to newsletters, join their forums and ask questions.
Fourth, take your time learning the material. There’s no need to rush or hurry. The more you learn and understand, the better your chances of success. Pretty straightforward advice.
Learn and don’t be afraid to ask questions about anything. We’re all here to learn in the investing community. And it’s a great community to be a part of.
Finally...TAKE ACTION. Of all the things I could ever impart to you, this is probably the single most important piece of advice.
If you’ve done a good job of the other four your chances of success will be greatly enhanced. Simply taking action one day at a time will put you miles ahead of the pack. And you’ll be that much closer to achieving what you desire.
Peter Conti, http://www.MentorFinancialGroup.com is America’s leading real estate investment expert. He has helped thousands of clients create financial independence using real estate through his many books, investing courses, boot camps, lectures, and personal mentoring. Peter still actively invests in single family homes and commercial real estate.
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