Tuesday, 21 July 2009 14:01

Becoming a Real Estate Investor

Written by Eddie Stewart
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When becoming a real estate estate investor many things have to change.  The most important of all changes is the way you think about money. The average consuming American looks at an item or price point for any object and thinks, "Can I afford this?"  That is the wrong way to look at the price of a deal.  If you think about prices according to whether or not you can afford them then you will never be able to afford them.  Does this mean you should buy anything you want?  No, you're smarter than that. When looking at a potential real estate deal or property you should ask yourself, "What am I going to get for this?"  If what you're going to get is good enough then you'll figure out a way to afford it.  For example, imagine examining a real estate deal and the property costs $5k. Are you asking if you can afford $5k?  You shouldn't be.  Rather, what are you going to get for your $5k? In this example, the property is a single family residential home in good condition and its current BPO is $62,000.  So what you're going to get for your $5k is a good property valued at $62,000.  You could probably turn around and sell that real estate property for half of its value and make a fast, healthy profit.  That's a good deal.  You better find a way to make that deal happen.  $5k to $30k.  $25k profit! I have a friend that tells a story that is a good illustration of this point.  He has a son that is very fast.  Fast enough to make him think that his son could probably go places with his skill.  But my friend didn't know anything about training his son in the art of speed so he sought professional help.  He found the best trainer in his area and hired him for two years.  Over that two year period he spent over $50,000 on this trainer.  Do you think it was worth it?  Could he afford it? My friend told me the other day that this son had been recruited all over the country to run in college.  He could choose to go to school wherever he wanted on a full athletic scholarship.  My friend calculates that over the next four years his son will receive over $400k in attention.  His son will get new shoes after every meet, a personal masseuse, a personal trainer, supplements, tuition, books, housing, food, etc.  It was worth it. Don't think about whether or not you can afford a real estate deal.  Examine the numbers and what you will get when the deal is complete, and then, if the deal is worth it, find a way to make it happen. On this website, we offer deals to our members just like the example above.  We also offer no interest financing.  There's no better deal than that. No Risk Investor is the ultimate resource and tool for tax lien, tax deed, and real estate investors all over the world.  No Risk Investor takes incredible pride in its ability to help students take action, get into properties, and begin the journey to financial freedom.  No Risk Investor provides county lists, property lists, online auction lists, comprehensive training and education, an auction calendar, and online auction center, an investor community and much more for its members.
Last modified on Monday, 28 June 2010 08:54
Eddie Stewart

Eddie Stewart

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