Continuing With 101Real Estate Investors Best Practices...

Real Estate Investors are PROBLEM solvers…

Sorry to shout at you but this "best practice" sums up the totality of what we do.We solve problems! 

It's that simple.

When a successful investor is negotiating with a seller what are they really doing?  They are looking for a way to solve that sellers problem.  Right!  If you can't provide a solution that fixes their problem, guess what… you are not going to get that deal.

But this "best practice" does not end there.  To be successful in this business you have to learn to solve any number of problems.

Problems like… lenders balking at the last minute.  Contractors forever behind schedule and over budget.  Unexpected issues with a renovation.  Tenants not paying rents on time or at all.  Governments, local or otherwise implementing laws and regulations that directly impact our profits.

Alright… successful investors have to solve problems, you say...  What's the big deal about that?At first glance, I would say that this is not a big deal.  Except for this…

Many investors come into this business listening to any number of Gurus who have convinced these investors that this business is easy.  The Gurus proclaim… just jump in, buy a property, and the money will start to flow.  You and I know that it doesn't always happen that way.

If fact, what really happens is that many investors jump in thinking this is going to be extremely easy, and when the first, and then second and possibly third problem shows up they start to get very quickly discouraged and drop out as real estate investors. 

Now… how do you implement this "best practice"?  Well, I don't think that you just implement this one.  Instead this one has to be reframed within you.  If you accept that there are going to be problems and that one of your primary jobs is to FIX them, then you will be very far ahead of most investors and on your way to greater success and increased profits.

The next time you are confronted with a problem, just accept that this is part of this business, take it in stride, and fix it.

If you found this post to be of value, I would be honored if you passed it on to others who may benefit.

Peter R, Giardini is the founder of The Club, Real Estate Mastermind a National Real Estate Investor Coaching program whose philosophy is that real estate investing coaching/ mentoring can only be provided by experenced "local" coaches in a one-on-one environment. To find out more about The Club visit http://www.theclubmastermind.com or send an email to [email protected].  You can listen in and participate in Pete's Real Estate Investors' Mastermind radio show every Thursday night at 11:00PM on BlogTalkRadio... www.blogtalkradio.com/peter-giardini.  All rights reserved 2009.