3 Stages to Real Estate Investment Success (same as a medical doctor)

It’s the 21st Century and like you, I’m not really willing to wait for anything.

In that spirit, here’s the steps and tools to buy undervalued properties fast and correctly.

1)Education, 2) Experience and 3) Independent Success.

For example: A medical doctor learns the basics of the trade in medical school (Education). Then she works with experienced professionals in an internship (Experience). Finally, she takes on patients with the helpful oversite of her peers and professionals (independent success).

Same with a welder, mechanic, accountant and a ballerina.

1) Education: Spend some time educating yourself about the mechanics of a real estate deal and how real estate investment works. Buying a house for yourself and selling it for more doesn’t count. There is much more to it than, buying and selling. There’s a ton of places to do this on the internet. Bigger Pockets is one of the best places to start.

Make sure you stay out of any real estate education program that involves a picture of a Ferrari, a meeting in a hotel, a story of a person who used to live in a garage, a price tag that’s more than a new car and does not include the actual “tools” to succeed. Make sure you learn from someone who has a proven track record.

It’s one thing to talk about theory and what is possible, it’s another to be shown how it’s done through experience and then where to get the pro tools to complete it for yourself.

There’s something about real estate investment that makes everyone think they can do it on any given Sunday.

2) Experience: There’s two ways to get experience in anything. Work with someone who has successfully done what you want to do over time. Or you can go it alone. Both work, but one takes much less time and resources. Find a group of people who are already succeeding at buying and selling property and align yourself with them. You can do this in person at local real estate meetings or join one of many groups on the internet learning together. The right person will have the “tools” in place for you to succeed and share them with you, as well as the personal relationships.

3) Independent Success. Lucky for us, we all want the same outcome; to generate equity or income through real estate. It’s the same goal for seasoned professionals all the way down to newbies doing their first deal. Find a seasoned person who will partner with you and do a few deals. When you have enough experience, all the right tools and the right relationships, go rogue.

Tools:  World Class Data from which to send out tons of offers and a reliable and industry specific bulk mail printer to get them in front of the owners efficiently and inexpensively.  And the education on how to use these tools.

There’s no real magic to this plan. I’ve made just about every mistake you can in real estate investment. I sincerely hope this helps get new investors off to the right start.