The Real Estate Investor’s Top 10 Checklist for Real Estate Investing
A real estate investor usually has so much more going on than just real estate investing, it can be very difficult to even find a few hours of “free time” during the week. There is the daily job, family, friends and so many things that take up part of our time each day. Life moves fast and it is often easy to lose sight of what we need to do each day to take care of our future financial health! We are constantly confronted to make better choices for our health and we need just as much focus on making better choices for our financial health! Often we might even feel that there is not enough time to focus on our real estate investing however we always must make the time each and every day if we are really committed to making a change in our lives.
Many new real estate investors often ask what should their focus be when trying to create a real estate investing plan. Here are a few items to focus on to start you on your way. This list may include the following in a Basic Real Estate Investor Checklist:
1. REAL ESTATE STRATEGY – What real estate strategy are you really going to focus on based on your situation. This real estate strategy can vary whether you have money or access to money. You need to identify where you are at with cash funds and this can help you decide on say wholesaling vs. buy/fix/flip or rentals.
2. LOCATION LOCATION LOCATION! – Decide on where you are going to focus the real estate strategy. Pick one city or town and one zip code to start. Over time where you learn 1 zip code then try 2 then 3 etc. Do not try to work many areas at the same time, it may become too difficult for you to learn.
3. BUILD A POWER TEAM – You will need people to help you get things done. Start building a power team of people such as Realtors. You can never have too many good people on your team! Read my prior articles for questions to screen Power Team Members for various real estate investing needs.
4. EDUCATION – Continue learning by reading books, joining REI Clubs, watching videos, listening to CDs or spending time learning from others on things you might need to know. Never stop learning! Your Real Estate Investing Education will be the best investment you will make!
5. PASSION – Never lose your passion because it will fuel your real estate fire to succeed. Keep your passion and fire stoked and burning!
6. ACTION – Do at least one thing each day to build your real estate business. Action will lead to achieving results.
7. DESIRE – Never forget your “WHY” for doing this or reading each day out loud your statement for how bad you want this. How would you feel if you accomplish where you want to be?
8. COMMITMENT – Committing enough time to really make this work. The need to carve out time each and every day to build your real estate investing business.
9. GOALS – Create goals that you review 3 times each day to create a passion and drive each day. The goals should help keep you focused and motivated!
10. BUILDING YOUR NETWORK – Always strive to build to your network and contacts. It is like the saying “the larger your Network grows, the larger your net worth will grow.”
Each day say out loud: “REAL ESTATE – THIS IS MY BUSINESS!” You are building a business and it can take time but it can be worth the sacrifice and heartache. No one is going to do the work for you. Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing! Go make your real estate dreams a reality! Follow your real estate passion and make a change to make it happen! Each day, live life in the moment with no regrets! Believe and Achieve! – Joe Jurek
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