Real Estate Flipping

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Author:
Derek Pierce

The one thing I want you to think about as we are starting the New Year is the single most important factor in all of business. Take and throw everything you know out the window because without this one possession, you'll end up more lost than driving down an old country, dirt road in Alabama.

It's called direction...

Direction for you and your business...

Since it's the beginning of a new year, you should initiate the year off on the right foot. Take the next few days to work on your real estate business instead of in it. What do I mean here? Shut off all the phones and conduct some serious soul searching to figure out what it is you're really looking for from your real estate business. See, it's time for you to stop tiptoeing along and get to work. This can be your year to stop being a "lookie-lou" and become a real investor. More on that in a sec but let me ask you -

"What direction are you heading in right now?" Are you where you want to be in life?

And no I'm not trying to sound like the latest Geico commercial with Tony Little yelling, "Yeah Baby, you can do it."

I'm being totally serious here. See, a few years ago, when I worked at the J-O-B, I had a Franklin Covey planner that I tracked all of my goals, my appointments, heck my entire life in that one little book. Anyway, after moving a little over three years ago, my wife found this little book tucked away in a pile of stuff. She opened this book and proceeded to read what I had written for my goals and the direction for our businesses and our lives. She was shocked to see that nearly all of the items I had listed had come to pass. And the ones that hadn't were not our really our goals anymore, as we were striving for bigger things.

So, the moral to the story is this: if you don't know the direction you're heading in, then how in the heck do you intend to ever get there? Do you think one day, you'll suddenly wake up and say, "Oh, this is exactly what I want"?

I think not.

You've got to have a plan: A plan of Massive Action to get your butt moving in the right direction.

Now, some of you may ask, what do I do if my plan fails?

This type of thinking simply comes from the fear of failing. This stops most investors dead in their tracks from ever buying their first property. They read articles, books, and even buy courses, yet they remain inactive in buying any real estate, never realizing their dreams of escaping the rat race. They talk a big game about what they're going to do, but they always seem to be just talking and not doing.

My response to the above question is that we can play "the what if" game all day long and still be at the same point you're at now except a little more frustrated. But let me ask you this: What if your plan works? What if you knew beyond a shadow of a doubt that you wouldn't fail? Would you then still procrastinate? Would you put off running that ad to buy houses? Would you still drive by that house in preforeclosure, yet convince yourself they're not at home so that you won't knock on the door?

It's time you get serious about your financial future because the one thing that keeps passing us by regardless if we take action or not is our time.

So, I 'm going to show you how to get off your butt and take action. It's something I've used for years and believe that you'll benefit as well. Here it goes.

First, I want you to identify where you want to be. This is the most important piece to the puzzle. Get some direction about your business and your life. Identify what's makes you tick... Write this down. This could be something like you want to buy six houses per year with a net of $10K or whatever your situation is.

Next, what actions do you need to take to get to this point? Write down, what you'll have to become as a person to fulfill your goal. Now, this person that you have to become, what do they do? What actions would they take?

Now, I want you to ask yourself, "What is it you can do over the next ninety days to get closer to your goal?"

Then, write down the actions and tasks that you'll commit to completing in the next ninety days to realize your goal. When I say commit, I mean you have to be committed more than the average "Hollywood marriage" and stick with your plan adjusting it as you go along the way.

Along the way, as you complete some of the tasks, you want to reward yourself. Maybe, you've finally sold that house that seemed like it would never sell or maybe you've talked with 20 sellers or whatever your tasks was, then reward yourself accordingly. Now, I'm not saying break the bank, just take a percentage of your profits from your next deal as a reward for your work. Maybe it's a weekend getaway or it could be as simple as having a nice dinner with your family.

Now, you must remember to focus like a "laser guided missile". It's easy to get caught up with everything going on around you, however it's crucial you remain focused with your eyes clearly set on your goals. I admit that I struggle with this every day. With the internet and running several businesses, it's easy to get involved with all the day-to-day crap or surfing the net for hours on end. Ask yourself daily; what is the most productive, profitable use of my time? Finally, at the end of the ninety days, it's time to look at what you've accomplished and repeat adjusting your plan from what you've already completed. I want you to do this process starting with the end in mind of where you want, and then backing your way to do the things necessary to achieve the end result.

If you fail to take time to do these simple yet powerful steps, then I grant that you don't have what it takes to be a successful real estate investor. You must remain as the visionary for where you want to lead your business and the steps to getting there. If you fail to have this vision, then you'll always be working for someone that does. However, if you follow theses simple steps, then you'll be amazed at the amount of ground you can cover over the next ninety days. Commit to making this your best year ever. Screw the resolutions and focus on getting things done!



About the author:



Derek Pierce, full time Real Estate Investor, shows you the exact strategies to his success in his Free Book: "How I Went From Corporate Guinea Pig To Real Estate Success". Get your copy and Real Estate Investing Tips by going to http://www.thereisecrets.com

A Quick Note From The Publisher... If you like the article above, you may be interested in the following article which is also related to Real Estate Flipping... Equity Discount Real Estate Investing Consider these parameters for a real estate deal: Property Value: $250,000 Purchase Price: $160,000 Repairs: $2,500 If you analyze the numbers, you see that the equity available in this deal is $87,500 (Property Value minus Purchase Price minus Repairs). So here's a hypothetical question for you: Assuming that the information above is accurate, and the property is located in an area that you view as acceptable and/or favorable, then: If I offered to give you this deal in exchange for $10,000 in cash, would you do it? Remember - this is hypothetical. The real question here is this: Would you exchange $10,000 in cash for $87,500 in equity? For most savvy investors, the answer is: Absolutely YES! This is called "Wholesale Real Estate Investing" - the process of buying a lot of equity at a very significant discount from another real estate investor who has already done the hard work of finding a deal and getting it under contract. Just think about that - consider how easy real estate investing would be for you if you had a network of real estate investors in your area (and maybe even all over the country) who, several times each month, offered you the opportunity to purchase significant amounts of equity for a severe discount... ...It would be quite easy to become wealthy, fairly quickly, wouldn't it? The answer again, is: Absolutely Yes, it will. It is through smart "wholesale real estate investing" that you can increase your net worth by $20,000 to $100,000 on every real estate deal that you do. ...Now the burning question becomes, "Where exactly do I find these wholesale real estate investing deals?" I know of at least 3 solid sources... You've got to admit - it will be a pretty wonderful thing when you know how to find great real estates deals in which...