Keep control of your business and realize that there’s no such thing as an equal partnership. I like this saying, which I think came from Confucius: “Happy wife makes happy husband.” Here’s an example of this. (more…)
Expecting to Have Equal Partnerships in Your Real Estate Investment Deals
Posted by at September 23, 2012Overcoming Fear and Pride
Posted by at September 19, 2012
If you’re not getting what you want in life, it’s for one of two reasons: fear or pride. Are you saying things like, “Why should I go wholesale a house? I’ve never done it, and I’m scared.” Now ask yourself: When has fear served you? Or have you ever said, “I’m too good to send out 100 envelopes a week. I’m too smart for that.” If you’re not getting what you want in real estate or in life, see if fear or pride is holding you back. Get clear. (more…)
Not Having a Written Plan for Your Investment Business
Posted by at September 15, 2012
You’ve likely heard about the study of Harvard and Yale graduate students: Over the course of 30 years, 3 percent of the students in the study financially outperformed the other 97 percent because they had written plans and goals. (more…)
Starting Your Real Estate Investment Business (3)
Posted by at September 11, 2012
I’ve wholesaled more than 200 properties in the past three years, 80 percent of them to one person. You can flip a house to someone once and make $12,000, or you can flip a similar house for a $9,000 profit to a person who’s likely to buy five from you every year for the next 20 years. (more…)
Starting Your Real Estate Investment Business (2)
Posted by at September 7, 2012
I promise you, it gets to be easier, better, and more fun. I work with partners in a lot of real estate deals. They put up the money, and we split the profit 50-50. For example, Michael will put up $50,000 on a house that we’ll fix and sell for $80,000. (more…)
Starting Your Real Estate Investment Business
Posted by at September 3, 2012
If you get into any business, particularly real estate, get in for the long run. If you don’t make at least a five-year commitment to your business, don’t even bother getting started. I’ve never met anyone who got into a business for less than a year and did well. (more…)