Most wouldn’t argue that there’s quite a few things to learn to become a highly successful real estate investor.
The ability to work when you want, investing and profiting from the single biggest wealth-builder throughout history comes at a price, after all.
Still, if you can master just one thing to set you on the right track to success, what would it be?
Baron Rothchild, an 18th-century British nobleman and member of the Rothschild banking family, is credited with saying that, “When there’s blood in the streets, buy property.”
He would know. He made his fortune buying real estate in the panic that followed the Battle of Waterloo against Napoleon.
Like Rothchild, you must seize the waves of opportunity that come in the real estate market, when they appear.
In most markets, you can make strategy adjustments and still succeed, so long as you know what those adjustments should be.
Economists are talking more and more about a potential recession that is coming our way.
Most real estate investors will not know what to do when this happens. They will not know how to make money when the economy changes, when money tightens up, when they can’t easily flip their properties.
But we’re going to take a look at the number one thing you should master in order to profit and succeed through an up, down, or sideways economy.
With it, you’ll be primed and ready to snap up a ton of properties and profits over the next 24 months.
So the question is, “What is the ideal system for cashing my first big-profit check in real estate in the next 30 days, and repeating it as often as I want over the next 12 months?”
Warren Buffet said it well, “You make money when you buy, not when you sell.”
He’s implying that you must be able to FIND GREAT DEALS and focus on buying them.
In real estate, the buying part comes extremely easily when you find a great deal.
If you can find great deals, investors, private lenders, and hard money lenders will throw money at you.
If you can find great deals, you don’t even need financing, you can wholesale properties to investors and pocket checks multiple times per month and not need financing.
You can wholesale a property after spending no more than 10 hrs of your time and zero risk.
If you can find great deals, that can be bought at a super-deep discount, then there’s plenty of meat on the bone to make profit however you want.
So then, the number 1 million-dollar skill you must develop as a real estate investor is not…
- Deal funding
- Renovation skills
- Negotiation skills
- Closing skills
The top skill is the skill of finding great deals.
Finding great deals is the Coca Cola ‘SECRET SAUCE’ of real estate investing.
So, the question becomes, “How do I find great deals?”
You have to find highly-motivated sellers. Most people are not desperate to sell their home. They want to list their property at a retail rate and let the property sit until the right buyer comes along. These people are in the strong position and likely won’t settle for selling their home at a 40 – 60% discount.
You need to find people who need to sell their home more than they need to make a profit from it. There are several types of sellers that qualify as highly-motivated, which include:
- Financial hardship
- Medical hardship
- Downsize and relocate
- Needed fast results
- Couldn’t keep up with repairs and maintenance
- Estate sell
Real estate investors use multiple strategies to find these types of motivated sellers.
- Direct mail
- Bandit signs
- Contacting banks for REOs
- Contacting title companies
- Contacting estate and bankruptcy attorneys
- Driving down streets looking for signs of a distressed property and contacting the owner
These are some of the best-kept secret strategies used by successful real estate investors to find deeply discounted properties.
The best way to reach your full potential as a real estate investor is to build your success team.
That’s why you should connect with the team here at Utz Property Management to learn more about how we can help you achieve your goals as a real estate investor.
Schedule your PROPERTY PROFITS STRATEGY SESSION today.
In This FREE 1 Hour Session, an expert real estate investment coach from our team will work personally with you to…
- Examine your current real estate investment portfolio/plans to see what’s working and what’s hurting. Discover where you’re making money and losing it.
- Search for the diamonds in your backyard, the low-hanging profit opportunities that can be made with minor tweaks.
- Present the best path for tweaking your investment game-plan so you can build wealth faster, with more predictability and stability.
Schedule your PROPERTY PROFITS STRATEGY SESSION today.
