“There are three types of people in the world: those who make things happen, those who watch things happen and those who wonder what happened. “ – Mary Kay Ash
Some statements are universal and can be applicable to several situations or groups; Mary Kay Ash’s statement also applies to real estate investors. Almost everyday, my telephone rings and someone asks “How can I get started in real estate investing?” My normal grumpy-old-man answer is “Who is this? Didn’t your Momma teach you how to introduce yourself on the telephone”? I guess it’s partially my fault since I answer my phone “Good morning/afternoon, this is Bobby, how may I help you?” Once I learn who I am talking to, I try to ask a couple of basic questions..
What Do You Want To Be When You Grow Up?
In real estate investing, there are three main types of real estate investors. While many investors choose to specialize in one or the other, these three investors can overlap, dabbling in one while focusing on the other.
- Wholesaling – This is where most real estate investors start for two reasons: (1) You you are going to be successful as a real estate investor, you had better learn how to market, prospect, and find good deals. (2) It doesn’t cost much money to get started. (I “made things happen” by knocking on doors to get my first deal!)
- Flippers / Rehabbers -If you have some money (and want to gamble) start rehabbing; just remember that it will take longer than you thought, ALWAYS cost you more than what you thought and your profit is less. (Flippers/Rehabbers on Reality TV are paid actors!)
- Buy and Hold -.Buy and hold real estate investors purchase properties to build wealth over the long-term. These can be commercial or non-commercial
properties, which are often rented to generate profits.If your goal is to have passive income from XX number of rentals every month, you need discipline and a plan.It doesn’t happen overnight but it can provide an extraordinary amount of freedom and income….but you have to have some money to do this!
Pick A Lane
Whichever investor type you focus on, you’ll need a little help along the way. Here at Investment Properties In South Carolina we help investors of all types sharpen their skills. Our financial and real estate education and coaching will help you:
- How To Get From Where You Are To Where You Want To Be
- How and where to look for funding (List of Private Money Lenders)
- How to select the most experienced and effective contractors
- How to find, buy or sell properties at the right price
- How to build a real estate investing business, thru Mastermind Groups
- How To Build a Buyers List Fast
- Where To Start Today
Which Kind of Real Estate Investor Are You?
Are you a real estate investor that make things happen (They scare the Hell out of a lot of people!)
Are you the kind of real estate investor that watches things happen ( They wish they could do something,,,but they just talk about it)
Are you the kind of real estate investor who wonder what happened (I shoulda; I wished that I had I regret not taking action sooner)
