3 rules for the new investor

I am not a guy that enjoys rules, but sometimes they may be helpful. In this post, I will share three suggestions I feel will help bring success to new investors that are experiencing information overload here on the BP forum.

1. Focus on accomplishing small goals daily

For example, if you are a new investor and you have a goal of buying your first home in the next 12 months so you can accumulate equity while you learn the real estate business. Some of the small goals you could focus on daily are spending less cash to have enough money to pay your closing costs and down payment when purchase time arrives. Get negative items deleted from your credit report. Develop a relationship with a Realtor in your area. Once you set a goal, everything you do daily should be something that brings the purpose closer to reality.

2. Commit to your goal fully

Once you set a goal, COMMIT to it COMPLETLY. Again, if your goal is to buy your first home do not get on the forums asking if this is the "right thing to do" You will get 10,000 answers and they will all be different. Ultimately, you will end up doing NOTHING. You are the only one that can decide what is best for you. Set your goal and commit.

3. Do not jump around

Don't start off wanting to buy your own home, then become a wholesaler, then want to flip houses. You will accomplish nothing. You can do all of these things, but commit to one and get good at it before you jump to another. I feel the habit of jumping around comes from being on the forum too much asking for "advice."

I hope these three simple things will bring you success. If you have any questions about how to implement this advice into your life, feel free to ask.