Top 5 Real Estate Lesson's from 2013

1. Start Small: Without money, I had to find a way to get started in RE, I got started with educating myself and my first deal is a four unit apartment development project, I am working towards right now. I will share more about this transaction once its more appropriate. The ULI Real Estate School – This has been a great resource for me.

2. Create your own opportunity: I had to create my own opportunity; and a crisis can be the best time to do this. There is always opportunity you just have to recognize it and be willing to seize it. A crisis makes your need to take action urgent. Sometimes that is the impetus you need to get started.

3. Stay Local: Any business depends on relationships. Naturally, your best relationships are within your local community. Being able to know which lawyers, contractors, architects or engineers you need are best obtained through relationships you have that you can rely on. I needed a lawyer and through existing relationships I had the right lawyer for my situation.

4. Defend your credit: Your credit is not only your score, it’s your credibility as well. In order use other people’s money for equity transactions. You need your credibility. In order to get debt financing you need your credit score. So be fanatical and defend both of those things because once gone their very hard to get back.

5. As Warren Buffet says “If you buy things you don’t need you, soon you will sell things you need. This needs no further explanation.

Thanks for a great 2013. Here is to a phenomenal 2014.