We all want to find that magic ‘one nd sure way’ to succeed – and be living the life of the fittest, with envy on your side…Unfortunately, there are so many different ways to accomplish this goal, that there is no magic bullet. The unfortunate reality is – before we can find our one true way, we need to find out there are W collapses.
For those of us who are already out there and making money, we know this is not easy. It takes a commitment of massive amounts of money to start a certain type of real estate investing business.
However, there are many resources for looking for good deals which are generally associated with real estate investing. They do not have a magic bullet, (or at least one that I know of), but they do provide us with many good techniques and helpful steps to take. These resources include:
- classified ads
- the profession of real estate agents
- the various events/ motivate you
- the various methods of home valuation.
However, let me just share with you, the top-secret real estate investing method that I have used for years:
Now, I am going to share with you one of my biggest downsides with real estate investing, and I have personally learned to master it. I found it very difficult at first to lease properties, even though I had a reputation as a good landlord.
The main reason is, that it is tough to go out and find good deals, although I had a ‘bargain priced’ house to offer. There are many ways to find houses, but if you are looking in the ‘ Cornwall ‘ district, you want to make sure that heavy investment is not marooning you. The only way I got around this, was to find a good deal earlier, then lease this purchase out on an option period of virtually zero days.
This way, you have the practice of finding good houses to lease; with a little bit of drawing to decide whether or not you can even rent it out. If so, you have a (big) profit waiting for you in three or four years.
Unfortunately, I started by making huge gobs of money by the late 80s and then trying to get by with little profits till about the year 2000. I was still willing to take risks I had not attempted before.
When the housing bubble burst when I was having problems in the early 90s, I was as good as dead. I had built up huge amounts of equity in a fairly short time and had to sit on it for a while for lack of liquidity.
During this time, the one thing that helped me was my study of the tools of wealth management and Real Estate in particular. So, I made a couple of extremely wise real estate investment decisions, using a very simple tool that I first learned in my teenage years, and have since used ever since.
This was the first tool I learned, which helped me realize that I had made well over 100% returns in less than 6 years continuously using techniques normally used by investors.
This enables you to add more leverage on top of the knowledge you already have. Which in turn enables you to accomplish much more than you, do by learning something entirely different. For real estate investing, this generally means increasing the depth of your investment portfolio by adding more money to your ‘cash register’ currency.