The Big Picture Wealth Mindset....

[Tommy Ray]

Please define wealth.  What is wealth to you?  It is important before you start and get to far that you have an aim point...  A goal to work backwards from to today so you can make a specific plan and take deliberate action daily towards YOUR goal.  The longer the perspective the better.  

Imagine whatever the specific goal is-- maybe 100 rental units paid off for instance.  Now how to get there?  Realize at the outset that real estate will involve all different types to service, maintain, repair, improve, insure, manage and eventually sell.  Be in your future mind and realize how important it is to identify the range of specialist that you will need for the life of those assets.  Before you buy you 1st build you awareness of real estate investing, potential team members that you will need over the journey that will likely last the rest of your life and commence recruiting people and investing time seeking out knowledge and WISDOM.

Wisdom would say buy in the down cycles of the market and refi cheap when rates are low but investors often have ants in their pants.  Can you build a team local and in an away market--yes.  Do you need unique checks and balances in your away market so someone is representing your interests in the away market--yes.

Slow and steady wins the race.  Seek out mentors, seek out a greater understanding of the connected whole.  Over the years I picked business degrees, real estate license, tax preparation training, loan officer licensing and training, investment / CFP training and it is all tied together in one big connected body of knowledge that emphasizes appreciation, debt pay down, cash flow, and tax write-offs...  Invest--do not save.  Delayed gratification is good.  Learning is earning. Get'r done