The Best Real Estate Investing Advice

Recently i did a radio interview and that is a partial transcript from that conversation. Make me aware what you think!

What is your better Real Estate Investing Advice? - Property for Sale

Don't stop. Never quit. Never give up. You're going to a hit a lot of open obstacles in this business - you can't let them stop you. Numerous investors get stopped by either ignorance or fear saying, "this is simply too hard" - "real estate fails for me" - "real estate does not work in my area." Then they get out! Don't do that. Find someone who can guide you through. Maybe it's someone in your REIA, another investor, legal counsel, anyone successfully doing the pain you are trying to do. Do the required steps to find answers to questions. You don't have to know everything today; you learn after a while. Take the time to figure it out - but don't get stopped.

Name on big obstacle.

Legislation - laws change and sometimes investors don't know the state of hawaii laws or say "our laws don't allow that" when actually they're unaware of the laws. Legislation may say you can't do something a specific way, nevertheless, you can in fact do it one other way. Again - learn, learn, know - just do not get stopped.

Best book you've read

I enjoy business books because we run a business. If you have greater than 2 properties, you have a business and need to help remedy it as such, instead of like a hobby. The great thing about business books is the fact that most business needs are identical, no matter the industry. "The EMyth" by Michael Gerber is astounding and "Think and Grow Rich" by Napoleon Hill.

Best personal growth experience and just what you learned from it.

My best ever personal growth experience probably originated in my worst ever life experiences. My three experiences were divorce and two extreme family health crises. Among the big things I learned throughout these was not to waste time - everyday is efficacious, even the tough ones. Jim and that i are so so busy every single day, our days are very full, but we like to it because it's all productive, all this serves a purpose, it serves others, and our activity constantly moves us toward our goal. We don't have to be at our goal to savor life, just being employed by it and making steps leads us tremendous joy. Don't sweat the small stuff because it actually is all small stuff over a life span - it really does pass as time is constantly march on. It's precious, don't waste it.

How I tie that into real estate property is by pointing out that, if you choose to wait before you make a purchase order, I promise that in five-years you'll be kicking yourself for waiting. Time is so precious.

Best success habit you practice

Not getting stopped. For that to occur, you must have a big enough "why?" You need a big enough reason to be doing this business - along with your reason's gonna change. Starting out, our reason for marketing ebay was to provide for retirement (as well as I wanted to get to that as soon as possible). Eventually, as we did start to have income to arrive for today, our reason had been a better lifestyle for ourselves and our family in addition to being able to give more, which feels really good. Now our reason would be to leave financial prosperity to the children and grandchildren

Best price you've done

Our mountain house. Concerning the time we started this business, we also bought a good house in our gorgeous Vermont mountains. As it turns out, we merely happened to buy it with private money because Jim was golfing with a friend one day and told him of a house we were seeking in spite of crazy lending regulations. After they finished golfing, his friend turned to him and offered to fund the deal. (We had been shocked and amazed he even had the bucks - we'd worked with him and known him for many years. If we didn't have money, how did he???) Finding private cash is easier than you'd expect - all you need to do is mention what you do...

But, the purpose of this story is niagra was 2005-2006 before the economy tanked. We bought the home and spent about $10,000 creating a face lift. Shortly into owning it, Jim explained we'd have to sell since it was not generating cash flow and, with our new company sucking up cash, we couldn't find the money to maintain the mountain house. I used to be devastated, however... We agreed on a sales price, that i thought was high since i didn't want to sell. It sold presently. We had to set the closing date with a time when we would bought it for 366 days. By holding it more than a year, we would just have long term capital gains to manage. We made $100,000 profit after loving it for Twelve months. That was crazy huge money for us and we had super enjoyed your home and the mountains a lot better than free all that time. We poured every dime of profit back to our investing business. This was another confirmation that property is an amazing approach to make huge money. - Property for Sale