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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: How a Real-Estate Investor Rents by the Room to Maximize Cash Flow Business Insider Mayor Adams' crony approves lucrative NYC real-estate leases that reek of 'corruption,' rages councilman New York Post Deal brokered by top NYC real estate official Jesse Hamilton scrutinized by City Council New York Daily News Ranked: Real Estate Bubbles by Change in Home Prices (2014-2024) Visual Capitalist Experts closely watch SWFL real estate market after Helene, Milton Gulfshore Business Junior real estate student selected as Eisenberg Scholar Marquette Today News | TGI Fridays' closings could make some prime real estate available in tight retail market CoStar Group eXp rolling out rev share changes Real Estate News Amazon made Volusia's biggest real estate buy of 2024. Here's the rest of the top 10. Daytona Beach News-Journal Axis Real Estate Investment Trust Third Quarter 2024 Earnings: EPS: RM0.022 (vs RM0.024 in 3Q 2023) Yahoo Finance How the Presidential election really impacts the real estate market Mortgage Professional Agents see a brighter sales outlook ahead Real Estate News Specialized Real Estate Group, NWA Land Trust finalize deal to preserve acreage at Markham Hill in Fayetteville Arkansas Online NAR settlement doesn’t pass the ‘real world’ test Real Estate News Co-founder of MCB Real Estate discusses possible outcomes for Harborplace redevelopment - WBAL Radio Real estate secondaries continue fundraising momentum Secondaries Investor Grand Opening Celebration Held at Anthem Everett Boston Real Estate Times Boston Financial Closes $170 Million National Multi-Investor Fund Boston Real Estate Times Pinellas Beaches Real Estate October 22-25 The Gabber Newspaper Financial Services firms redesign wealth management spaces for next-generation clients Boston Real Estate Times Burlington Mall Completes Multimillion-Dollar Transformation Boston Real Estate Times Experts rank DFW. No. 1 for real estate potential Dallas Business Journal Anthem Citizen Real Estate Development Trust Raises C$82 GlobeNewswire RE/MAX Revealed as #1 Real Estate Brand on Franchise Times Top 400 for 16th Consecutive Year PR Newswire News | Property pros look for film, tax credits to help lure real estate demand back to Los Angeles CoStar Group October 22-25 Gulfport Real Estate Sales The Gabber Newspaper Julie Robinson named first head of healthcare real estate at Clarion Partners Pensions & Investments Real Estate disruptor ComFree is Back Yahoo Finance Brooklyn Homes for Sale: All Four Sold Brownstoner Invesco Real Estate Closes on $1.7 billion of Loan Commitments Across 24 Loans in North America through 3Q24 PR Newswire RE/MAX Revealed as #1 Real Estate Brand on Franchise Times Top 400 for 16th Consecutive Year StreetInsider.com NexPoint Real Estate Finance, Inc. Announces Quarterly Dividend StreetInsider.com RE/MAX Revealed as #1 Real Estate Brand on Franchise Times Top 400 for 16th Consecutive Year StockTitan Local real estate firm to merge with national brand, expand footprint The Business Journals Unused Property? Driving Successful Lives provides the Solution: Donate Real Estate in Flint to Support PR Underground Anthem Successfully Closes on First Real Estate Development Trust IPO on a Canadian Asset GlobeNewswire NexPoint Real Estate Finance, Inc. Announces Quarterly Dividend Financial Times Tag Archives: Storie Real Estate InkFreeNews.com U.S. Banks Sitting on $750 billion In Losses On Real Estate Debt Related Securities-Which Sectors Are Most Exposed? Yahoo Finance My View: Harris, Trump offer different takes on real estate investment The Business Journals Berks County real estate transactions for Oct. 27 Reading Eagle Nicola Wealth Real Estate and Townline Celebrate Completion of Meridian Residential Project in Coquitlam, B.C. GlobeNewswire Westchester-based real estate investor goes on SoHo shopping spree Crain's New York Business NexPoint Real Estate Finance, Inc. Announces Quarterly Dividend Star Local Media Floyd Mayweather Inks Monumental $402M Real Estate Deal To Acquire Over 60 Affordable Housing Buildings In NYC Black Enterprise Utah Housing Market Forecast for Next 2 Years: 2025-2026 Norada Real Estate Investments High-end deals lost steam in September; million-dollar sales stayed strong The Business Journals Driving Successful Lives Opportunity to Make a Lasting Impact on this Holiday Season by Donating Real Estate PR Underground Why Hampton Roads real estate agents are optimistic about the region’s housing market The Virginian-Pilot These are the Best Real Estate Deals of 2024 Tampa Bay Business Journal Real estate company to double headcount after $100 million investment The Business Journals Nashville ends reign as top city to watch, falling behind Florida and Texas The Business Journals |
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