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October 01 2015

PropertytoBuySurrey

The Best Real Estate Investing Advice

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I just did a radio interview which is a partial transcript from that conversation. Tell me what you think! - Estate Agents in Surrey

What is your Best Real Estate Investing Advice?

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

Name on big obstacle.

Legislation - laws change and often investors don't know new york state laws or say "our laws never let that" when actually they're unaware of the laws. The law may say you simply can't do something a specific way, however, you can in fact do it yet another way. Again - learn, find out, know - just don't get stopped.

Best book you've read

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

Best personal growth experience as well as what you learned from it.

My best ever personal growth experience probably originated in my worst ever activities. My three experiences were divorce as well as extreme family health crises. Among the big things I learned with these was not to waste time - everyday is valuable, even the tough ones. Jim and that i are so so busy each day, our days are very full, but we like to it because it's all productive, all of it 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 enjoy life, just working for it and making steps leads us tremendous joy. Don't sweat small stuff because it in fact is all small stuff on the life span - it really does pass as time continues to march on. It's precious, don't waste it.

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

Best success habit you practice

Failing to get stopped. For that to occur, you must have a big enough "why?" You have to have a big enough reason to be doing this business - as well as your reason's gonna change. Starting, our reason for marketing ebay was to provide for retirement (and naturally I wanted to get to that at some point). Eventually, as we began to have income to arrive for today, our reason had been a better lifestyle to live in and our family along with being able to give more, which feels really good. Now our reason is always to leave financial prosperity to our children and grandchildren

Best deal you've done

Our mountain house. About the time we started ecommerce, we also bought a very nice house in our gorgeous Vermont mountains. As it turns out, we only happened to buy it with private money because Jim was golfing using a friend one day and told him in regards to a house we were hunting in spite of crazy lending regulations. When they finished golfing, uncle turned to him and agreed to fund the deal. (We were shocked and amazed he even had the cash - we'd worked him and known him for many years. If we didn't have money, how did he???) Finding private money is easier than you'd expect - all you need to do is mention what you do...

But, the aim of this story is this fact was 2005-2006 before the economy tanked. We bought the home and spent about $10,000 passing it on a face lift. Shortly into owning it, Jim informed me we'd have to sell as it was not generating earnings and, with our new company sucking up cash, we couldn't manage to maintain the mountain house. I was devastated, however... We agreed on a sales price, i thought was high since i didn't want to sell. It sold presently. We had to set the closing date into a time when we would purchased it for 366 days. By holding it more than a year, we would only have long term capital gains to handle. We made $100,000 profit after loving it for 12 months. That was crazy huge money for us and we had super enjoyed your house and the mountains better than free all that time. We poured every dime of profit back in our investing business. This is another confirmation that real-estate is an amazing way to make huge money. - Estate Agents in Surrey

Don't be the product, buy the product!

Schweinderl