7 Keys to Building a Real Estate Empire

• 1.Decide

There is a big difference between desiring to own a house and building an empire. The empire demands more and gives back more. For a house, all you need is two years’ worth of savings or a mortgage You didn’t break a sweat. However, an empire takes will power and a real decision. Once you have made this decision, decide to stick by it because there are beautiful distractions along the way that will give you three houses and a lavish life at most. Decide to abandon any such distractions and stay focused.

• 2.Information for a Foundation

The Empire needs a bigger, more detailed foundation. It involves taking many simultaneous risks every day after the first day. Grant Cardone attributes his success to carefully studying the real estate market since he was fifteen. He only bought his first house at 29! You are probably wondering why you need to study all those figures, charts, and trends when real estate agents do this for a living. It’s simple, it is YOUR investment, and it is YOUR decision that counts.

• 3.Delay and Save

Despite all the positivity, take your time to listen, watch, and learn. It buys you a few years’ worth of savings to start out. Rushing will only earn you a mortgage, wrong and regrettable decisions, and leave you stranded wondering where you went wrong. Do not delay for too long though, when the time is right, dive right in.

• 4.Be Realistic

Start out small and build your way up. Check your extravagant expenses and use that money on things that build your knowledge, confidence, and standing in the real estate market. Grow your money in investments that you CAN afford.

• 5.One is the Starting Point

So now you have your very first house. What next? Get a second one, a third one, and another one. An empire is about the numbers; the more, the better. Profits increase as the value of your investment increases, and this is one way to increase this value. Check the article on taxes for more information on this.

• 6.Reinvest, Reinvest, and Reinvest

Once the profits begin to trickle in, make sure you plough back above 90% into your empire. Failure to increase your value risks stagnation. At this point, it pays to imagine what owning a huge multimillion real estate empire would feel like. If you like the feeling, reinvest.

• 7.Controlled Abandon

You can now afford a better, maybe lavish lifestyle. Keep it in check. The minute it goes overboard, you’ll be signing for bankruptcy. Well, at some point, the empire will run itself without much of your input. But until then, control the abandon.