It’s Time for a New Year and a New Plan!Posted on December 6, 2013 by
Here it is almost the end of another year and it’s time to ask yourself again, was this a prosperous year for you or not? If you feel that you haven’t had as prosperous of a year as you might have wished for you may want to ask yourself what you could possibly do differently next year to achieve your financial goals.
What are you thinking might be your problem or don’t you think about it? Did too much life get in the way, or were you too busy to make offers? You didn’t make offers because you couldn’t find any good deals, or you couldn’t find the money you needed to complete but a few transactions, if any? Did you have too much competition in your area, or were the prices simply too high and good deals evaded you because other investors got to the good deals before you and scooped up those good deals? Whatever your reason don’t you think it’s time to come up with a new plan that will allow you to capture some of those good deals others are so proud of?
In just a few weeks it will be time to make another New Year’s Resolution so if this hasn’t been what you had imagined as your most prosperous year, I thought this would be the perfect time to think about making some changes in your real estate business. One thing I can tell you for sure, there are good deals everywhere you look. There are plenty of good deals if you know what to look for and understand how to profit from the deals you find. So let me ask you, what does a good deal look like? Could it be a good deal simply because of the price you have to pay for the property? Could it be a good deal because of the payment amount you can negotiate with the sellers that will allow you to cash flow the property? Could it be a good deal because of the neighborhood the property is located in? All of these can be good reasons why you might have a good deal. It’s a good idea to know why any deal you do is a good deal in your eyes.
I see all too many so called investors today thinking a good deal is only about getting the most money from the deals they do. To those investors I have one question. Are you trying to buy EVERY HOUSE JUST TO MAKE MONEY? That strategy might work for some of you who need cash for immediate financial needs. What if those investors don’t need all of the cash they get from their deals? Have you thought about creating a steady monthly income stream? What about long term estate planning? It’s amazing how quickly your life passes and you wake up one morning and you no longer want to beat the streets looking for more deals. You want to just enjoy your life and be able to do what you want, when you want without worry about money. Do you want money coming in every month from the investments you make that will provide you income every month without having to get up and go to work every day?
It is my whole-hearted opinion that every real estate investor needs to be more diversified in their investing strategies. I truly believe being a one-trick pony is not the most profitable way to create wealth. If you were able to learn several ways to profit from almost any property you pass on the streets you travel, doesn’t it stand to reason that your income and equity just might grow faster and easier?
I have always believed that if you want to make more money and do more deals you need to learn more about what it takes to buy any type of property and make each deal as profitable as possible.
I realize from years of investing that you must know what you are about to buy and how you will dispose of every property to maximize your income. All it will take is a little more education from those who have walked the path you are trying to navigate and have learned the lessons you don’t really want to learn the hard way.
If you want to increase your income and net worth exponentially this coming year, might I recommend finding a quality mentor who has already learned the lessons you need to learn to achieve your goals? Start making your plans to make 2014 the best and most profitable year of your real estate career.
Happy Investing and Happy New Year