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Updated over 5 years ago on . Most recent reply
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The ONE thing I should do as a new investor
Asking for advice from any and all. What’s been the best advice, strategy, game plan, etc..in being successful as a real estate investor?
Most Popular Reply
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My best advise (not just for real estate investment) would be for you to determine what "successful" means to you. Once you know what successful means for yourself, you will be able to build a plan and method to achieve success. Write your goal on paper and stick it on your bathroom mirror so you see it every day. Success could be simply owning 1 rental property that has positive cash flow by the end of 2020. To someone else success could mean attaining enough passive income or wealth to quite their day job or retire early. Endless ideas on what "successful" is.
Once you have a goal, then list the steps out that you think you need to accomplish in order to reach success (these steps will most likely change as you learn more and move toward success). After that, focus solely and intensely on NIS (next important step). Heard/read NIS from someone else and it has been a game changer for me since I can get overwhelmed at times with a long list of things-to-do but nothing done yet. Once that one NIS task is complete, and only when it is complete, move on to the next NIS and repeat until you have accomplish "success".
Start small and build on each of your successes. There will be mistakes and bad decisions along the way. Pick yourself up, learn from them and move forward with the new knowledge you have gained.