A Realistic Game Plan on becoming a Successful Real Estate Investor

So, by now you know that the real estate market is plump full of red hot deals with all the foreclosures, short sales and wholesaling of properties going on due to the Big, Bad, Ugly Recession. You also know of at least one friend, relative or acquaintance that is or has made a mint in real estate.  You have purchased and read a book or two on real estate investing and decided it’s your turn to grab your piece of the pie. You jump in head first and two weeks later, your fortune hasn’t come to you, you haven’t found a good deal yet, there never seems to be enough time in the day to work your new business alongside your full time job and your dream is quickly floating away. Sound familiar?

You are not the first, or the last person to fall into this cycle. Many have given up too easy and that is why there is so much opportunity out there. Real Estate Investing is not difficult, but it requires a proper, realistic game plan to succeed. Being a full time real estate investor is closer than you think. Here is how to grow your new business while you continue to work your full time job.

First, you NEED your full time job until you get going. After all, you still have to pay the bills and feed the family while you grow your new business. This paycheck will cover your everyday needs while providing you with the resources needed to start your new business. Therefore, you need to look at your current full time job as part of your new business plan. Look at it as consulting time. Every day you consult for 8 hours, Phase 1 of your workday and then prospect for new business opportunities in real estate the other part of your work day, Phase 2.

I completely realize that you cannot effectively work two full time jobs, for very long anyways. However, only you can drive your investing career forward. That being said, you need to allocate a set amount of time for Phase 2 of your work day and stick to it. I recommend 90-120 minutes a day. Make the best of this short amount of time and make sure you take action each and every day. You need to make things happen! Don’t just prepare and plan for the next day. If you need to make a call, make it. Procrastination will put a quick end to your real estate career. Also remember, Paralysis of Analysis. Do not over analyze things! Just Do It!

Stay motivated and systematically take steps forward in the direction of making a property purchase. You will buy your first property while you are employed by your full time job, Phase 1. You may but you hundredth property while still working too! So, don’t be so quick to leave your consulting job, Phase 1.

The secret is to find what motivates you and use this motivation to take action every day. What made you want to become a real estate investor? Maybe your motivation is to leave your full time job ASAP! Maybe you want to be debt free? Maybe you want to sport that new car? Maybe true financial freedom? There had to be a reason that you decided that you wanted to take a crack at the lucrative real estate biz. Real Estate investing is still the best vehicle for achieving your dreams. Use this as your motivation and move FORWARD!

I like to take pictures or have some small memento of my goal as a reminder of what driving me. When I was younger, I wanted and Escalade badly. I went out and bought a small Escalade Hot Wheels Car and kept it on my desk until I reached my goal. Now I have a picture of my daughter on my desk. She is what drives my every move!

Finding and capturing your motivation is an important step because it will help to motivate and reinvigorate you when you begin losing your focus. Look at it several times a day beginning first thing in the morning. Your motivation is the key ingredient to being successful and that is something that we cannot provide you.

Now, set specific goals for yourself. These goals should be specific, measurable and attainable. For example, instead of saying “I want to be financially secure in 3 years.” Set a specific goal such as “I want to own 10 properties that bring in a monthly cash flow of $10,000.”

Next, keep yourself educated. Real estate is constantly changing. There are many successful real estate gurus out there that all have their own styles and focus on their own niches. You will find that all of these gurus are constantly learning from their colleagues. Study every course you can get you hand on and become an all around educated real estate investor. Learn different angles so you can maximize every given opportunity. I reccomend Charrissa Cawley's new program on how to make money during the recession, http://www.RealEstateIsHOTnow.com

Finally, have faith and believe in yourself and your abilities. There are enough, too many to be exact, negative people out there. Avoid these people like the plague. Who are they to tell you what your capable of doing. Stay positive and believe that you can do it. Once you make that first score, and pocket a $20,000 profit (example, profits vary deal to deal), you will laugh on how easy it was and want to rub it into the negative Nancy’s faces. But don’t, be the bigger person! :)

In conclusion, there has never been a better time than now to invest in real estate. Set your goals and take action. Keep greed out of the picture and you will be successful. If you can buy properties for pennies on the dollar and wholesale them for nickels on the dollar, you will make great money and sell home quickly. If you want to try and get RETAIL dollars on your properties, be prepared to hold on to the property for a while. It is a “Buyers Market” and every buyer is looking for the deal of the century. So give it to them, take your cut, and move on to the next!

The sooner you get moving, the sooner you can eliminate Phase 1 of your job! Start making money today http://www.RealEstateisHOTnow.com