Jane’s story, and the multitude of stories like hers, is exactly why I created The Zen Investor. I wanted to help other investors – both beginners and pros – take advantage of my hard-earned property investment experience, my wisdom and passion for real estate. To locate properties which offer fantastic value, ease of entry, stability, and very strong cash flow. Add to this a pre-arranged management system and voila! You have a Zen investment, a problem free and a passive income stream that would even please the Buddha! Remember, investing is supposed to be fun and exciting as we build up our wealth, investing in additional properties increasing our portfolios and cash flow. Unfortunately for Jane this will not be the case.
This approach gave me a great opportunity to start a dialog and to give Mike an idea how much I would appreciate knowing how he became successful and to find out what he would do in similar a situation, how he handled the same challenge I was currently faced with.
The ones that were investors, he would strike up a conversation with. He’d let them know when a new property became available he would contact them to see if they had any interested in buying or flipping it. During his conversation he asked if they knew of a good accountant, lawyer and so on. As he asked each of them for one good referral, he began building a power team of the members he needed.
Unwise research. The most basic step when investing in a property is doing a research. This is very a vital part in order to have enough knowledge in property investing and to recognize succeeding important steps before making a move. When you are planning to purchase a property, ask first and try to identify which one is worth for your money. A meticulous research should be still more precise.
With leverage, you can actually make a huge return in your expense. This is because you’ve gotten less capital tied up while in the earliest destination. In the event you get an asset for only 20 %25 down, you can individual and regulate huge amount of appeal.
After the class was over, the young lady stayed in touch with me. I had asked her to keep me informed as to the progress of her deal. It took her around three months, but in those 3 months she successfully purchased the property, fixed up the property, marketed the property, and made a profit of ,000! By the way, she had no money, no credit, and no job, but she was still able to make this kind of profit.
You should also read the newspaper every day to find your target. It’s not easy, but if you put a lot of effort there you will get the result. Watch for property sell off ads due to deaths, divorce, or immediate cash requirements. Try calling people who want to avoid real estate brokers since it will cost the seller commission. Since the owner is saving money on the commission, they probably can offer lower price.