Real Estate investing is not as hard as some people may think. Maybe you have invested in the past, and it didn’t work out for you so you gave up. Or maybe you haven’t started yet because you don’t think you have the time, skills, or money. Whatever your reasons are, I encourage you to look again at this great opportunity. I have been investing in real estate for over 20 years and the income that it brings me allows for an amazing lifestyle. I have helped many people over the years and have found that there are common reasons why it isn’t working for some people.  

Not Taking Control

I meet so many investors that end up getting teamed up with the wrong people.  Every year I see investors lose large amounts of money because they invested in projects that went belly up.  This quite often is because the people selling the projects were just out to make a buck for themselves, they didn’t care at all about their investors.  Quite often they put in large administration fees or management fees for themselves and the chances of the investors making any money is slim to none. The way to avoid this is by taking control.  I strongly recommend having OWNERSHIP to whatever real estate you’re invested in.  When you invest in somebody’s fund you own a piece of their company, not typically the real estate.  The problem with this is that it’s very easy to bankrupt a company and in the end the investors are left with nothing. Once again, if you own the property you get to call the shots.  You decide when to sell, when to refinance, and when to hold for the long term.  This does require some education so that you know the best ways to make money in real estate and that’s where I come in.  I can teach you strategies on how to make money through such things as tax deeds where you can buy properties for pennies on the dollar.  I can also show you some strategies where you can use your retirement money and / or reduce your taxes through using real estate strategically.  

Not Treating Real Estate As A Business

I see this all the time. Too many investors treat their investing as more of a hobby or ‘something on the side’, especially if they have a full time job. Even if you have only one rental property you should be treating it as a business. What I mean by this is that, like any other business, you need to do things properly in order to turn a profit.  Remember, you are dealing with large amounts of money and this money could be used to go on vacation, put your kids through college, or give to charity.  Don’t throw it away by making bad investment decisions.  In other words, get educated and know what you’re investing in or better yet, if you don’t have time to do all this find someone who can do it for you.  For example, I work with investors from all over the world.  These investors put their trust in me to source great revenue properties in ideal neighbourhoods.  I use my crews to fix up the homes then do the work to put GOOD tenants in place and have them professionally managed.  In short, you as an investor, get to just reap the rewards.  You tell us where you want your rent cheques deposited each month and we take care of the rest. Contrast that with the ‘investor’ who spends a lot of time trying to find a ‘deal’, is continuously being ripped off by his contractors, and deals with 2 am calls from tenants saying the toilet is leaking.  This would lead anyone to want to quit investing in real estate.  My goal is to make your experience stress free.  That’s why you got into real estate in the first place, isn’t it?  You wanted to have a life of freedom and make your money work as hard for you as possible.  

Not Having A Long Term Vision

Start with your end goal in mind and build your long term vision from that. If you don’t have a plan, you will be floundering and it will take you much longer to reach your goals, if you ever do. What do you want to accomplish with real estate investing and set out milestones as a self-check to make sure you are on the right track. Do you want to build up a large portfolio? How would your business look exactly in five or 10 years? A great exercise is to envision the lifestyle that you want to live and then build your business around that. Ask yourself if you are doing things that are bringing you closer to your goals so that you don’t get off track when a new shiny object enters your vision. I help investors and business owners create strategies to help them create the lifestyles and the businesses that they love. I’d be more than happy to give you a free coaching call and put you on the proper path to success.  Contact me for a free strategy session to see how I can help you put your dreams and goals in place.

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