Getting started as a real estate investor.
I can dedicate this article to assembling your real estate team. There are a lot of real estate educators who will talk to your about getting your team together. You need a real estate attorney, you need an accountant, you need contractors, you need a real estate agent, you need a closing company, you need a banker, you need private lenders, you need hard money lenders, blah blah blah. What you really need is a dream.
Don’t let people steal your dreams. In the real estate investing world there will always be dream stealers. Those people who will tell you that you can’t do it, just because they lack the courage to try. Sure you may fall on your face a time or two, but as long as you keep getting up, you are still in the fight. As long as you stay in the fight, you have a chance that your silly dreams will come true. So the next time someone tries to steal your dream, tell them to go play in traffic. You dream is what makes you special and your pursuit of your dream is what makes you a REIA member (well that and the fact that the annual dues are nly $109 and the value is much greater than that). So when you tell the dream stealers off, you are telling them off for all of us.
Now there are two critical elements that you need to become a successful real estate investor. The first is motivation. You need to be willing to work when other people play, so that you can play for the rest of your life. We are weird in that we choose to work hard and learn how to make big piles of money, while the normal people sit around watching TV. Even if they are watching real estate reality TV, they are just getting older while we are getting wiser.
There is also an element of bravery involved in real estate investing. There is always risk in any investment. In the Pittsburgh real estate market we have a lot less risk than most real estate markets and an amazingly safe investing market compared to paper assets like stocks. I see the bravery of facing that risk and taking action as a combination of education and action. The education eliminates a lot of the risk and taking action is the final step of putting your fears about real estate investing in the past.
This leads me to the second element that is required to become a successful real estate investor, education. The entire function of the Pittsburgh Real Estate Investors Association is to bring you all the best real estate investing education that I can find. Last month, we had a nationally known real estate guru Lou Brown and his street smart system, teaching us how to use trusts to buy property in PA. This month we have another nationally known real estate guru in Robyn Thompson teaching us how to make big money by flipping single family houses. (to register for this all day free event on May 23 email me directly at PittsburghREIA@aol.com).
As always, the Pittsburgh REIA club is dedicated to helping you make money and attain financial freedom.
To your success