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Dr. Kalinda Rose Stevenson
What Successful Real Estate Investors Know About Money That Consumers Do Not Know And The Real Estate Seminars Are Not Teaching: Investor Secret Five: Profit or Cost?
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What Successful Real Estate Investors Know About Money That Consumers Do Not Know And The Real Estate Seminars Are Not Teaching: Investor Secret Four: Good Debt or Bad Debt?
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What Successful Real Estate Investors Know About Money That Consumers Do Not Know And The Real Estate Seminars Are Not Teaching: Investor Secret Three. Investing as a Team Sport or a Solo Competition?
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What Successful Real Estate Investors Know About Money That Consumers Do Not Know And The Real Estate Seminars Are Not Teaching: Investor Secret Two. Plenty of Money or Not Enough Money?
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What Successful Real Estate Investors Know About Money That Consumers Do Not Know And The Real Estate Seminars Are Not Teaching: Secret One. Investor Rules Or Consumer Rules?
The first Investor money secret is that if you want to be a successful real estate investor, do not follow consumer money rules.
What are consumer money rules? First of all, when you buy real estate as a consumer, it’s all about you and your money. It’s about you and your credit score. When you buy real estate as a consumer, it’s all about you.
The Investor Money Secret is that it is not about you anymore. It’s about the property. It’s about the deal. The focus is taken away from you, your money, and your credit and moved to whether or not the deal makes sense.
One of the primary reasons people are unsuccessful when they attempt to invest in real estate is that they think they have to invest in real estate the same way they invest in their own personal property.
If you’re going to invest as an investor, you need to play with investor rules. It’s like any kind of sport. You need to know the game you’re playing to know what rules to follow. If you’re going to play hockey, you need to play by hockey’s rules. If you’re going to play tennis, you need to play by tennis’ rules. If you’re trying to play hockey with tennis rules, you’re not going to have a very successful hockey game.
That’s what’s happening in real estate. People are trying to play this game called real estate investing with consumer rules.
One of the fundamental problems of many of the real estate seminars I have attended is that the presenters don’t help people understand the difference between buying real estate as an investor and buying real estate as a consumer.
They’ll tell you that the first thing you need to do is check your credit score and you need to get your financing lined up. They are basically telling you to invest as a consumer.
In fact, many people do invest in invest in property as consumers, using their own money and credit. Usually they buy and hold properties, to get rental income and cash flow.
It is possible for people to build real estate portfolios following consumer rules. In the process, they are tying up their money and using their credit. As a means to create financial independence, this is a long and laborious way to build wealth.
In order to buy a property using consumer rules, you need to have excellent credit. You need to have enough money to make a down payment.
In an expensive market, many people can’t even get into the game to buy their own homes. And in a very expensive market, it is almost impossible to charge enough rent to pay the mortgage.
The result is that when people try to buy investment property using consumer money rules, most people cannot even get started. It simply costs too much or they don’t have enough credit.
The first rule of successful real estate investing is to invest with investor rules rather than consumer rules. As a consumer, it’s all about you. As an investor, it’s all about the property and the deal. This is very good news for people who want to invest in real estate. You don’t have to have a lot of money or excellent credit to invest. You do need to know the investor money rules.
For the complete free Email Course, “How To Take The Consumer Money Mindset Lid Off Your Real Estate Investing,” Go to www.nomoneylimits.com
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How To Lift The Consumer Money Mindset Lid Off Your Real Estate Investing: What The Real Estate Seminars Do Not Teach You About Money
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