Some people who doubt that there is a right time to get started in real estate investing worry that too many people buy houses to find a deal. Competition is everywhere. If you can’t understand that competition is normal in business, then real estate investing is not for you. Just take a look at the marketplace in Coke and Pepsi, Nike and Reebok, McDonald’s and Burger King, and a million other services and products out in the marketplace.
So if you see many investors competing against you, then know that it’s a rewarding business to be in because you are not the only one that sees the potential for profit. Plus, there are more than enough deals to make everyone rich, in due time. At any given time, there are hundreds of properties for sale in your own local market niches, enough for each investor looking for them.
Some investors know that events such as the September 11th tragedy, the huge number of job layoffs, and the decline in the stock market will kill the economy, and anything they buy will go down in value. But, once again, this need not be the time to fold-up your tent and quit before you get started. To be successful in investing, learn how to make money in “up” and “down” markets. Have strategies to utilize in both “up” and “down” markets to survive when the economy is bad or thrive when the economy is booming. And if everyone else is forecasting “doom & gloom,” it only clears out the competition as you have more market share to profit from, as this is a good thing!
Ask yourself: “When do I want to make money?” And the answer is usually right now!
Thus, go out and get your investing business going right now! And not base your actions on what others say because most of the population is not rich, only those few who dare to take the right risks and take the necessary steps to be successful.
Stay in ‘the Game,’ and stay ‘the Course’ (persist)
One of the major disappointments of the conventional ‘rental real estate’ approach is there’s just no money in it NOW, only after a long period of ownership. There’s not enough spread between the income realized from rent – versus – the expenses of mortgage payments and repairs for the investor to make any money today. You barely get by in the early years of your property’s ownership. You’ve got to have other income to support your lifestyle. You can’t just count on the rentals to support you.
- How a Foreign National Can Buy Real Estate in America
- Opinion: Investing in this country’s stock market is a smart money move
- What Is On An Income Statement And A Step By Step Process Of How To Make An Income Statement
- Real Estate Fund Woes Mounts as Brexit Fears Bite
- The Keys to Success to Investing in Real Estate
Most likely, in the beginning, you’ll be supporting your properties with your other income if you bought via the traditional way. That’s not too attractive. Many investors don’t have the stomach to endure the rough and tough financial stresses of the rental business. Even more so – people don’t want to hang in there to make it work in due time. Thus, if you persist, you will outpace your competition because they will no longer be in the business, and you will have “no competition.” This business is a long-term commitment, and over 80% of real estate investors have been in the business for that long go on to become millionaires. I’m saying to you this: Stay the course, and you will beat most of your competitors because you can ride the ups and downs of the Real Estate Game market in due time.
Opportunity is everywhere
This is ‘NOT’ a common statement I hear from new investors. True, it may work differently in some markets than in others, but investors make money in every city (large or small, metro-area or the rural-areas), every day of the week. You have to learn your market: the rents, the trends, the local customs, the lenders, the title companies, etc.
Then, learn the techniques and adapt them to your market. One thing is for sure; everyone needs a roof to live under, either renting or owning. People need to live somewhere. So study your market carefully, because there are tons of opportunities in every marketplace. You have to learn your market and be able to service your market accordingly. If you don’t believe this, read the ‘Success Stories’ of all my students achieving financial independence and earning big profits using my field-tested and perfected real estate investing system.
Typically, the main argument of real estate “Nay-Sayers” is associating real estate with toilets, bad tenants, property damages, tenant evictions, etc. – all the bad tasting things that may happen to an investor getting ready to jump into the real estate game.
For somebody who believes the only thing to real estate is getting a loan and buying a run-down duplex in a bad part of town, entering the real estate game most certainly could turn into a major nightmare very quickly. However, an individual open to possibilities and willing to learn various techniques and strategies will quickly discover that’s this methodology is not the most profitable way to be transacting real estate deals.