Advice for Aspiring Real Estate Investors

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It’s no secret that there’s plenty of money to be made in the real estate investing arena. There is, however, a rather large learning curve to get through before you start cashing those checks. Following are six tips to help your journey through the learning curve be a little less bumpy.

Find the Experts in Your Field and Copy What They are Doing

Whether you decide to pursue short sales, REO wholesaling, rehabs, or rentals, you should be taking advice from those who are successful at what you are trying to do.  There’s no sense in reinventing the wheel- instead, figure out who the successful investors are in your market, and mimic what they are doing.

Get in the Habit of Making Offers

As my friend and mentor, Steve Cook says, “An offer a day keeps the bill collector away.”   Bottom line- if you aren’t making offers, you aren’t doing deals.  If you develop this habit early on, you will reap the benefits down the road.

Distance Yourself From the Naysayers

The last thing you need when you are just starting out is someone chirping negativity in your ear.  Do yourself a favor and put as much distance as you can between yourself and those who try to discourage you.  If the Negative Nancys happen to be close friends or family that you can’t easily distance yourself from, then make it a point to avoid the topic of your investing endeavors while they are around.

Pick a Farm Area and Become an Expert at it

Trying to learn the market values of every neighborhood in your city can be an extremely overwhelming and daunting task.  Instead, pick a small farm area and become an expert at it.  Once you have mastered one neighborhood, then move on to another.

Be Consistent

Whether you are marketing for motivated sellers or making offers on REO properties, you need to remain consistent with your efforts.  Keep in mind that you will most likely get many rejections before you get your first deal, so make a commitment to yourself to keep going until you get that “yes” that you are looking for.

Set Realistic Expectations

Although some of the real estate gurus out there would like you to think that you can become an overnight millionaire, the truth is, the road to real estate riches takes time.  There is a learning curve involved that everyone has to work through, and it’s best if you realize this from the get-go.  It’s great to have lofty goals, but you don’t want to set yourself up for disappointment by expecting too much too fast.

I hope these tips will be helpful for those of you who are just getting started on your real estate investing careers.  Good luck, and happy investing!

Photo: JOE M500

About Author

Formerly a bartender, Steph Davis is now a full time wholesaler in Tampa, FL. If you'd like to get an idea of what it's really like out there in the trenches, head on over to her blog:!


  1. In looking back over my last two and a half years of investing, I would say #1 find a great real estate investing club and learn as much as possible from investors that you trust the most. Find an experienced mentor who is not out to make money off of you. At the same time, don’t expect something for nothing. Figure out how you can serve your mentor. #2 Do go to work with that mentor’s advice in mind, so that you don’t end up losing money.
    .-= Steve-Success Factors´s last blog ..Have You Discovered These 5 Keys for Thriving? =-.

  2. You’re right on when you say that it does take time invested and effort. For new real estate investors, I’d recommend starting out by considering wholesaling a few properties and building their dream team network. Having some dream team members that have done it before really helps new investors have a much greater chance of being successful.

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