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Stay Motivated With REI Till The Deal Comes
I know many investors step into the game of real estate investing with high hopes of landing the deal that will turn their financial situation around and yes some do and this is not for you - this is for the investors still looking for that first deal! The best way starting out in this business, staying motivated and sticking to real estate investing has to do with one big factor! Keep your JOB - Yes you may be "Just Over Broke" but real estate investing comes with no guarantees of doing a deal in 30, 90, or 120 days as a matter of fact deals come and they go. real estate investing has its good times and it's bad times! You need a source of income and without it the likely hood of failure will soon follow! Having a stable income is the number one goal to having financial well being and your mental and emotional well being also. How to stay motivated in this game of real estate investing until you succeed can be a process but in the end the benefits of a successful real estate business outweigh the time from beginning to success. So number one on my list to staying motivated is to have a stable income - you can do real estate investing part-time! We all have many demands placed on us from society, family, friends, work and our self that it can become vary confusing on the issue of priorities. With this said your number two goal to staying motivated is to get yourself organized in business and in your personal life as this helps in keeping control. Without organization, you will loose your sense of motivation and procrastination will set in to help you down the road of failure. It's all about balance. Balance in your life, balance in your job and balance with your real estate business and yes this is a challenge and the best way to get balance is cut out the clutter in life. Those wasted hours we all have in our daily life such as watching TV. Starting out in this game you will need to budget effetely and the best way to do this look for area's that you can cut expenses so that you can put the extra funds into your business. Great areas to cut are eating out, cable TV, dropping extra telephone features such as caller ID & call waiting. Look at it this way! According to the Bureau of Labor and Statistics, American households in 2003 spent an average of $3,129 on food at home and $2,211 on eating out. This amounts to $260.75, just cutting down and spend $100 a month eating out you would save $160.75 per month. The national average monthly cost of cable TV service and equipment in 2002 was $40.11 and the average for expanded basic service was $22.02 so cut back to expanded basic and save $18.09. Just with a cut back on the two items listed about you would save $189.77 per month or 2,227.24 per year for your business. It's not a home run but it can get you started. The average pre-foreclosure in the Midwest is only behind $2,700 so you save up for a year and learn how to do subject 2 investing you can acquire a property around a value of $160,000. By taking the simplest steps in life of stabilizing your current income, organization and budgeting in just a short time you can turn real estate investing into a reality. Therefore, my fellow investors decide what and how you want your life to be! Make a promise to yourself to achieve what you want real estate investing to do for you and concentrate on what's most important to you. Spend less and enjoy the simple things in life that do not cost and let real estate investing take you to the level of success you are seeking. This is just the beginning step of staying motivated as a real estate investor. Author of Getting Started in Real Estate Investing http://jmichaelrei.com/html/getting_started_.html "You will never do anything in this world without courage. It is the greatest quality of the mind next to honor." By Aristotle, Greek Philosopher John Michael
MORE RESOURCES: The Unsung Power Players of Real Estate: How Gen X Carves Up a Significant Slice of the Market Realtor.com News Could Boise real estate become a ‘million-dollar market’ in a decade? Maybe. Here’s how Idaho Statesman White Marsh Mall sold to New York-based real estate group The Baltimore Banner She Divorced, Then Downsized. A $700,000 Renovation Took It Home. The Wall Street Journal 3 Bay Area real estate professionals sentenced to prison in $55 million fraud scheme The Mercury News Fewer real estate professionals, investors predicting rent increases of 3 to 7 percent for 2025: CBRE McKnight's Senior Living Real Estate | Completely renovated Little Cedar Lake home West Bend, WI | By Emmer Real Estate washingtoncountyinsider.com 2025 Chicagoland real estate predictions Chicago Agent magazine REAL ESTATE PEOPLE: Ian Black broker chosen as president of Florida SIOR society Sarasota Herald-Tribune Wilton Real Estate Report (Nov. 22-26, 2024): Two Homes and One Commercial Property Change Hands Good Morning Wilton 11 tips from 11 top real estate coaches South Florida Agent Magazine EfTEN Real Estate Fund AS invites to webinars introducing the offering of new additional shares GlobeNewswire 2025 Chicagoland real estate sales predictions Chicago Agent magazine Demographic shifts expected to boost rental housing demand; Fewer real estate CEOs depart; Jobless claims edge lower CoStar Group 2025 South Florida real estate predictions South Florida Agent Magazine 2025 real estate development predictions Chicago Agent magazine 2025 real estate development predictions South Florida Agent Magazine A real estate challenge for 2025: Make yourself a priority by building expertise through education and certifications Chicago Agent magazine What LGBTQ buyers, sellers need to know about new real estate rules Washington Blade Current Real Estate Roundup - December 1, 2024 Nantucket Current Aspen Real Estate Snapshot, Dec. 2 Aspen Daily News 2024 redefined resilience for Houston real estate Houston Agent Magazine Why Cap Rate Isn’t the Whole Story for Real Estate Investors morethanthecurve.com New Real Estate Rules Could Widen Black Wealth Gap Sacramento Observer Real estate measures dominated this week in Island News for 2014 Islander News.com Texas Housing Market Forecast for the Next 2 Years Norada Real Estate Investments Restaurant Real Estate: December 2024 Portland Food Map KKR Real Estate Finance: Look For Further Yield Compression On The Preferreds (NYSE:KREF) Seeking Alpha 'Exquisite' Raynham home that sold for $1.2M boasts saltwater pool and stone pizza oven Enterprise News Abu Tor: Bridging divides in the heart of Jerusalem The Jerusalem Post Marquis Who's Who Recognizes Brian Stone for Expertise in Real Estate 24-7 Press Release REAL ESTATE | Braund’s flooring and bathroom remodeling provides quality products & services washingtoncountyinsider.com Expanding Airbnb-friendly real estate: New opportunities for renters and homeowners TravelDailyNews International All-cash buyers are still snapping up homes. See where they’re buying. The Washington Post Star athletes seize real estate opportunities in 2024 The Real Deal How much did the five most expensive homes sell for in Sartell the week of Nov. 25? - St. Cloud Live What are the seven most expensive homes that sold in Sherburne the week of Nov. 25? - St. Cloud Live Artful Living: A Cornucopia of Constant Learning Santa Fe New Mexican Optimistic Investors Push Carasso Real Estate Ltd (TLV:CRSR) Shares Up 27% But Growth Is Lacking Simply Wall St County real estate sales include dermatology building Evening Observer Two more $1M+ home sales bring November's total to eight The Business Journals Price drops on one of Washington's most expensive homes The Business Journals Erawan Group Enters a 30-Year Lease Agreement for Real Estate Development KAOHOON INTERNATIONAL New program aims to help Washington small businesses buy commercial property - The Business Journals New program aims to help Washington small businesses buy commercial property The Business Journals Alternative Investment Funds invest more than ₹75,000 crore in real estate, the highest among all sectors Hindustan Times Donald Trump nominates Charles Kushner as US ambassador to France The Jerusalem Post Dartmouth home with views of Apponagansett Bay sells for over $3M: Weekly home sales SouthCoastToday.com Macomb County real estate transfers recorded July 8-12, 2024 The Macomb Daily Delayed possession: MahaRERA recovers ₹200 crore from real estate developers in Maharashtra to compensate homebuyers Hindustan Times Trump wants pardoned real estate developer Charles Kushner to become US ambassador to France The Associated Press |
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