Heads Up: 5 Must-knows for New Investors

I went BIG for my first real estate investment. The down payment mirrored my life-savings. Just like that, I was instantly broke and uneasy about my finances.

Lesson #1: Don't place all your eggs in one basket. Have reserves.

Fortunately, my investment was cash-flowing and I officially became an entrepreneur.

Still not in the best place financially, I planned to move forward with another deal.

I didn't hesitate to ask for a loan. Friends, family, banks. Denied, denied, DENIED. I had no lending credibility.

Lesson #2: No one is obligated to give you money. Earn it with work, knowledge, associations, and credibility.

My goal remained delayed until I went to a networking event. A seasoned investor spoke about creative financing.

Sounded great, so I investigated:

• business credit
• cash-out refinancing
• master leasing
• seller financing

All methods I now considered options.

Lesson #3: Take advantage of FREE resources. Internet searches, downloadable documents, and networking events.

Back in action! However, I had no deals. Solely focused on financing, I placed no effort into actively pursuing a deal.

Lesson #4: Success is not linear. Work on goals simultaneously.

Long story short, I closed on my 2nd deal a year later. A year later! But everything worked out well. So no complaints. The lesson here..

Lesson #5: JUST GET STARTED.

Things may not happen as planned. Commit to the end-goal and you will earn the result you desire.