There are some very substantial steps the dedicated investor can take to put them on the road to accomplishment in property investing. This is not brain surgery; in reality, it is not very hard at all. If you are prepared to devote yourself to following a few simple guiding principles, you could hit upon yourself on track to making your real estate venture dreams come true.
One should take a look at some of the major points of the pros which Larry Polhill considers necessary to achieve in the field of real estate investing:
- Execution
- Support Systems
- Marketing
- Funding
It is All about Execution
The fact is nothing happens until you make your mind up to execute. You know what you need to do; now you just have to execute it. Like most other endeavors in life, procrastination is a success exterminator. You can read all the best-selling real estate investment books, do all the homework, attend all the seminars, and pay attention to all the experts, but if you do not get out in the real world and carry out what you have learned, you will get nowhere fast.
Support Systems
Many real estate pros like Larry Polhill say that a smart use of money and time is to set up a support system. This can be a casual relationship with a mentor – someone you know who has been triumphant in real estate – or building a formal relationship, for a fee, with a recognized real estate pro who teaches students the details of real estate investing.
Typical real estate investment support systems:
Informal Mentoring
In this category of support relationship, you are using the guidance and advice of an individual who has demonstrated victory in the area of real estate investing. Usually this individual is an acquaintance, usually a relative or friend. Ensure they have what it takes to instruct you what you need to discern. Or else you are both wasting your time.
Professional Mentoring
A top real estate expert like Larry Polhill can provide valuable help, not only to the novice, but also to folks who have been at it for a while but would like to take pleasure in a little more success, or simply want to dust off and develop existing techniques.
Marketing
Postcard Marketing and Private Lenders – These are great ways to market your real estate investment business.
Funding
Funding for your deals is one of the most significant elements in all of property investing. Whether you have already well-known relationships with a choice of funding sources like banks, private lenders, credit unions, and other sources of funds, or you are trying to establish those relationships, it is significant to learn more about this vital task.
It can be much more complex to get funding from an institutional lender because of their credit-based, rigid lending policies. Many property professionals like directors try to evade this route and concentrate on establishing and maintaining associations with private lenders.
