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Updated about 16 years ago,
THINK OUTSIDE THE BOX
Hello Everyone
I hope this will shed some light onto the reality of the world of real estate as we will know it in the future.
You can not continue to do business as it was done 10yrs ago or even 2yrs ago because of all the mandates and guidelines to follow. This is why I teach people to learn the business the right way and do not try and take short cuts, because they will hurt you in the end. Yes you will make a little money in the beginning, but what happens when the rules change and the way you were doing it changes and it affects you?
Networking which many understand has been the key to my success. Understanding the needs of others will supply all of your needs.
Example: I read many of the post regarding wholesaling and I still am amazed at how many people are trying to accomplish this task, but many are not thinking outside of the box.
Heres what I mean. Look around the country and see what is happening. I live and do a lot of business in Charlotte, NC, but I have done and am still doing business in two or three other cities as well.
I have many GREAT ideas and I use them and I help my buyers use them as well. See trust is part of that thinking outside of the box. Take a trip and see what the area you are thinking to invest in looks like. Do as much research before you get there and then when you get there, have written down things that you definitely need to know and see. This will eliminate any wasted time. See some areas are not worth spending a whole lot of time in no matter what the circumstances.
Partnering up with out of state investors to do deals until you reach that comfort level.
When you continue to do things the way you have and it is not getting you no where then that to me means that it is time to change what you are doing.
Trial and error, you are going to make some mistakes, the key is minimizing the mistakes. You can read all the books, go to all the seminars and think you have it figured out, but in the end the best way is to go and do a few deals and get with a seasoned investors and have them show you the way.
Now that is easier said than done because many investors who understand a little about this business will try and SELL off as though they are GURU's, but there is nothing new under the sun. It is just that they have been working in this capacity a lot longer than you and have networked a lot longer than you. If you keep at it you to can eventually become a GURU.
In closing, just keep a positive attitude and look to succeed. If you continue to watch the news and read the paper you only see the negative, but I can assure you that there are millionaires being made daily because of this economic situation that we are in right now.
REMEMBER THIS YOU WILL NEVER KNOW UNTIL YOU TRY IT. :D