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Fix and Flip Real Estate Investing Strategy

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Fix and Flip Real Estate on the market tend to be listed at incredibly enticing price points, and that leads many investors to considering them very seriously.

Fix and flip real estate investing

Overview

Up-Front Investment:

Purchasing a fixer-upper property, which may require more down due to the increased risk.

On-Going Investment:

Short-term investment to fix up home (and then any costs to own/maintain it until it sells).

Return on investment:

Potentially low. You need to be careful with numbers to come out in the green.

Best for:

Any place with a hot housing market where you know there’s a good chance the fixed-up property will sell quickly.

How It Works

You’ve probably heard about “house flipping” before and how many people have claimed to have gotten rich doing it.

While it’s unlikely to make you a millionaire, house flipping can be very profitable if you find the right properties and know some key professionals.

A house flipper is someone who buys a property in need of repair (especially foreclosures and auction homes, but they can also just be outdated units) and then fixes it up with the intent to sell or lease it for a profit–usually a very large profit if they play their cards rig.

For more clarification check out the Real Estate Investing Strategy by Robert Kiyosaki

The Considerations/Features

It sounds like the perfect plan: You’re buying up houses for cheap that are in dire need of repair, you give them a new look at-cost, and then you list it on the market for a good price.

You profit, and the community also wins because you just fixed an eye sore.

It sounds like a wonderful plan and a great way to improve the curb appeal of any town, but it’s not quite as simple as it seems.

Getting the upfront capital to buy a house, and then pay for all the repairs in a timely manner so you can put it on the market, is perhaps the most difficult part of the whole plan.

Experts suggest going back to your team of professionals before getting into the house flipping market.

Read more on Real Estate Education

You should have some construction experts and some people well-versed with the legal and accounting side of things to help you buy, fix, and sell in a timely manner.

What happens if you sit on the property for too long?

Financing costs will eat away at your profits.

You’ll have to be able to sell it at a high cost just to break-even on the whole thing.

When it comes to flipping houses, being able to precisely crunch the numbers is essential to pocketing a good deal of profit when it’s all said and done.

Another challenge? Buying a house without having to put down a large downpayment.

That can be difficult with little/no down financing options being very hard to come by from trusted lendors.

Plus, when you’re buying a fixer-upper property, lenders know there’s a greater risk because these properties are harder to sell, which generally means they expect more down.

But, balancing the books is important with this part and everything else to do with such a high-risk investment.

If you put down too large of a downpayment, where’s the capital for fixing up the house going to come from?

If you have to finance all the repairs in addition to the house purchase, that’s when interest can begin eating up the profit margin you had set.

As a final consideration, just note that your long-term profit plan relies on you buying and flipping houses regularly.

Once a home sells, you either pocket a profit or a loss, and then you move on. Read this to know how to maximize your profit as a real estate investor

The idea is to profit from one sale so you can put it right into a new project.

It’s definitely a more “active” form of real estate investing compared to owning a rental property.

The Pros

The real pro of purchasing a fixer-upper is that you have the potential of making a solid profit, so long as you have carefully considered all the financial aspects.

Overpaying for the property, putting too much down, taking on too big of a project (expensive repairs), and sitting on the house too long before it sales can all turn your house flip into a flop.

That’s why you need professionals on your side who can help with estimations.

The Cons

The biggest con of working with a fixer-upper property is the risk.

The risk of buying the property and not being able to afford the repairs, or the risk of finishing/half-finishing the repairs and then not being able to sell it and at least break-even.

My Fix and Flip Strategy Guide

Crunching the numbers is vitally important to coming out of a house flipping deal on top.

Having a team of trusted professionals who know the area and are specialized in pertinent areas can help you make the right choice when it comes to choosing a property, establishing your financing terms, and even figuring out what repairs need to be made (and their budget) in order for the house to sell.

If you do your due diligence, flipping houses can prove to be lucrative, especially if you’re able to buy a home in need of update in a “hot” neighborhood where you know buyers will be willing to pay the extra price for a state-of-the-art home when it’s all said and done.

Fix and Flip Real Estate Investing Strategy 1

Real Estate Investing Fear Factor

If you’re a new real estate investor who has thought about real estate investing but have been due to a nagging feeling that you are certain the market will collapse once you step in and you will lose all your money; guess what, you’re not alone.

Fear grips every new investor; and no one successfully investing in real estate today would state otherwise.

It’s common for potential real estate investors to miss out on incredible opportunities for no other reason but an overwhelming sense of fear.

Okay, so let’s address some of the most common fears and see whether we can help you to become less anxious, and maybe take the plunge into real estate investing after all.

Negative Cash Flow

Hey, the idea behind investing in real estate is to make enough money to cover operating expenses and loan payment with some left over to deposit in the bank.

Having to feed a property won’t cut it; no investor wants to feed a rental property.

Believe it or not, this fear one might be the easiest to manage because it’s straightforward: simply run the numbers before you buy.

Obtain the property’s last twelve months income and operating expenses, calculate a mortgage payment, and plug the results into a spreadsheet or real estate investment software program to determine cash flow.

If the cash flow is negative, so be it, otherwise dispel the concern and move ahead.

Just be sure to use realistic rents, a vacancy rate (even if the owner claims full occupancy), operating expenses (don’t forget replacement reserves), and a loan payment to compute your annual cash flow.

Also, never walk away merely because the property indicates a negative cash flow.

Dig a little deeper and look for ways to manage the cash flow.

Many rental income properties simply go negative because of poor property management; you might have a probability of raising rents and cutting operating expenses.

Who knows, you may even discover a real opportunity overlooked by the current owner.

This Isn’t the Right Time

Yes, for any number of national or international events, potential investors often feel it would be advantageous to wait for better times before making an investment in real estate.

But real estate investment has little to do with the economic climate at the time you buy.

Foremost, consider the long haul. Economic depressions come and go, but how will the investment property impact your future rate of return? That’s what counts.

If it helps, bear in mind that unlike the fluctuating stock market real estate has a profound record for steadily appreciating.

Perhaps not overnight, and not without an occasional bump, but historically, real estate value does go up over time.

Losing Your Money

Of course, you wouldn’t want to tap into your savings to make maybe the largest financial investment of your life only to wind up losing it all.

The key, however, is to study and research.

Learn about the property you want to invest in, and the area where you plan to invest.

Look for sources of information like seminars, college courses, real estate software, and real estate investing books.

Get an expert appraisal of the property from an investment real estate professional or property appraiser.

There’s always some risk when real estate investing, but developing a plan with knowledge will negate most of your uncertainties.

Tenant and Management Hassles

Okay, it’s true. No one wants the headache of having to repair a refrigerator or to fuss with an unruly tenant;

and its understandable why that concern does prevent many people from becoming real estate investors.

But life is always a series of trade offs, and trading off an occasional migraine for potential future wealth is generally worth it.

However, it’s also true that in time you will learn to deal with and manage most issues in your sleep.

If not, you can always hire the services of a reliable property management company to deal with it for you.

For about ten percent of the rental income, a property manager will do all the dirty work;.

the advantage being that it will relieve you of the time and stress of having to deal with tenants and repairs and in turn puts matters like late rents into the hands of experts.

Lack of Real Estate Experience

Just because you have not yet purchased an investment property should not keep you from real estate investing.

In this case, locate a real estate agent who specializes in investment property to assist you.

When it actually comes time to buy a rental income property, you’ll be surprised to discover that it’s not as insidious as it looks, and tapping into the mind of an expert will increase your comfort level significantly.

But the keyword here is investment property specialist.

A real estate agent who just sells houses won’t benefit you; you want a real estate professional with true real estate investment experience.

It’s Time to Get Started

Granted, the hardest part about jumping into real estate investing is getting started.

We’re great at making excuses, and there are always numerous reasons to put off starting something new.

Yes, we want to be cautious.

It’s better to put the breaks on and approach real estate with adequate knowledge.

So if you’re struggling, here’s my suggestion: learn, research, and plan.

Educate yourself about real estate investing, learn about real estate in general and more specifically about your specific real estate market, and develop a road map about the financial security you hope to achieve.

Afterward, pick out that first rental property, make a purchase, and then take over as manager.

If you’ve stuck to your investment plan goals, calculated the numbers, did your due diligence correctly, and work diligently to increase income and control expenses, in time you’ll be able to move on to bigger and better properties.

After all, that is the nature of real estate investing.

©MITROBE Magazine

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2 Comments

2 Comments

  1. Billis Raven

    May 30, 2019 at 6:14 pm

    this is quite actually the what i have been looking for, this strategy is actaully the best and i think am going to employ it in my real estate business, ones again thanks for this. i will keep checking on your site

    • Mitrobe

      May 31, 2019 at 10:24 am

      i want to thank you for taking your time to comment. and also for the appreciation

We will appreciate I'd you share your thoughts on this post with us

Investment

This is How Real Estate Investors Profit from their Real Estate Investment Business

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This is How Real Estate Investors Profit from their Real Estate Investment Business 4

The big question. How Do Real Estate Investors Makes Profit out of their Real Estate Business?

Here is how Real Estate Investors get their money back and get even double of their investment.

This is How Real Estate Investors Profit from their Real Estate Investment Business 5

1. Asset Appreciation

A real estate property appreciates in value due to several factors including:

  • Lack of free land to build more houses as demand for housing increases.
  • Scarcity leads to price appreciation
  • Construction of major infrastructure such as malls and highways near the property thus increasing its accessibility and convenience.
  • Upgrade of the property with newer amenities.
  • An upsurge in the economic conditions of the region, turning it into a growth area.
  • If all the above happens, your property becomes attractive to potential buyers or renters and you can dictate the price, and at this situation where there is asset appreciation Real estate investors happen to acquire more profit by inflating the cost of buying or leasing a house, which alternatively increase their profit.

    2. Rent income

    This is also known as cash flow income. Here, Real estate investors acquire an apartment building and then lease it to one tenant or a host of tenants where there will be collecting rent at the end of every month (year).

    Consider renting your property as offices, rental residential houses, car washes, storage facilities etc.

    3. Commissions for Buying and Selling Real Estate

    This is the money made by real estate brokers who get to keep a percentage of the money paid by the buyer after they sell a property on profit.

    There is also the real estate management companies who collect rent on behalf to the landlord and then get to keep a small percentage of the rent money.

    The real estate management firms run the day to day operations of the estate such as orientation of new tenants, hiring plumbers and electricians to fix faults, ensuring the neighborhood’s security etc.

    4. Ancillary Income

    Another way investors in the real estate industry make money is by installing ancillary profit generating infrastructure within the estate.

    This infrastructure may include:

  • vending machines
  • laundry facilities
  • Restaurants
  • ATM’s
  • Fun Zone
  • Bar
  • and lot more

    Money Making Opportunity

    Are you currently looking for ways to make money? Ways that don’t involve working a traditional nine to five job? If you are, you may come across many scams; however, there is good news.

    With a little bit of research, you should be able to find a number of legitimate money making opportunities.

    One of those opportunities involves real estate investment.

    If consider yourself to be unfamiliar with the real estate read this > Education in Real Estate, market and all of its happenings, you may not necessarily know what real estate investment is. or you may think there are limited ways to make profit as a real estate investor.

    This is How Real Estate Investors Profit from their Real Estate Investment Business 6

    But it quite obvious, have you ever thought, why most millionaires invest mostly on real estate, and in know that what create in most people the illusion that real estate investing are done by millionaires alone.

    And alot of people thinks the only way to profit or make money as an real estate investor, you always need to lease or sell a house, Well while that is the fundamental way of making profit as a real estate investor, there are also various ways of which you can acquire more profit as a real estate investor.

    Possibly setting up infrastructure and others, kindly check this out, Best Real Estate Investment Strategy extracted from Robert Kiyosaki, it will also help you set a proper strategy for your real estate investment and generate more profit for you.

    Real estate investing is where an individual, who can be considered a real estate investor, buys a piece of property. That property is often repaired or updated, if any repairs or updates need to be made and that why every real estate investor need the knowledge of Fix and Flip real estate strategy. y

    Once the real estate investment property purchased is in top notch condition it is either resold or rented out to tenants.

    This is basically where the opportunity to make money comes in.

    When it comes to real estate investment, there are many misconceptions associated with it.

    One of those misconceptions is that only those who are rich or have unlimited financial resources are able to become real estate investors.

    This just simply isn’t true. Yes, you will need money to originally get started in real estate investment, but you don’t have to be loaded with it, you don’t have to be a millionaire, and not every one who is a millionaire through real estate investing started as a millionaire.

    There are many real estate investors who start out small and then expand from there. For instance, some real estate investors start out with only one or two real estate investment properties and then use their profits to buy additional properties or also by creating other revenues like setting up infrastructures.

    This approach is nice because it also gives you the opportunity to see if real estate investment is the right money making opportunity for you.

    If you would like to try your hand at real estate investing, it is advised that you take the time to familiarize yourself with it.

    When it comes to doing so, you have a number of different options. Online, you should be able to find a number of websites that aim to educate hopeful investors, just like you, on how to make profit with real estate investment properties.

    You can also find many books or resource guides on the subject. there are top real estate investors out there which you can learn from or get their books. Investors like

  • Robert Kiyosaki
  • Donald Trump
  • Brian Bosworth
  • Deborah Winters
  • Blake Richards
  • Beverly Carter
  • Ryhan Serhant
  • Fredrik Eklund
  • and lot more.

    There are also many real estate investment courses available for you to take. What is nice about these classes is that many are offered locally, while others are offered online.

    Investing a small amount of money to buy real estate investment how-to books or take a training course are good ways to learn as much as you can about the real estate investment business, such as how you can make profit with it.

    Starting your own real estate investment business is just one of the many opportunities that allow you to be your own boss, become a millionaire, but it is one of the better ones.

    As a reminder, you don’t need to be rich to invest in real estate. Honestly, my most recommended guide is, merging with real estate investment companies and start as a brooker, while you still continue your training and acquire more experience, or you can start with no cash no credit strategy.

    This is How Real Estate Investors Profit from their Real Estate Investment Business 7

    Lots of folks think it can’t be done.

    How in the world can you buy a piece of real estate property without cash or credit? How is it possible to buy a $50,000 house or a $1 million dollar house if I don’t have an abundance of cash or an excellent credit rating?

    Nothing stops a would-be investor cold in his tracks like “no cash or credit.” The prevailing perception is that “I can’t start real estate investing” because

    (1) I sure don’t have any money and
    (2) my credit is horrible!

    The typical way real estate investing is accomplished is with an earnest money deposit to accompany the Purchase Contract and a down payment at closing.

    Many real estate investing tycoons, in wanting an offer accepted, make large earnest money deposits so the property seller will recognize the buyer as a serious investor. And because many real estate investing tycoons use real estate agents as their purchasing liaison, they provide sizable down payments out of which the sales commission will be paid.

    Well, when I started my real estate investing career, I had neither cash nor credit. I had a serious business failure prior to my start in real estate investing, so I had to conjure up a way to succeed outside the traditional norm.

    While I was well aware of the accepted procedures of earnest money deposits and down payments in real estate investing, I was forced by my situation to find alternatives. I did not realize at the time that commercial property is often purchased without any cash outlay at closing or even a credit check of the buyer.

    So without any pocket change or a savings account, I began offering a $10 bill as my earnest money deposit! And I began offering no down payment at closing.

    My Purchase Contract offered simply the assumption of an existing loan! (In the 1980s when I started my real estate investing career, wrap mortgages were common, whereas today other legal instruments accomplish the same purpose.)

    I don’t have to tell you that real estate agents were not exactly fond of me. In fact, in my highest week of tendering offers, I submitted 235 offers on MLS houses, and got 235 rejections. I mean, the realtors and brokers were infuriated at my non-traditional offers!

    Most went to great pains in writing “REJECTED” across the entire length (even both sides) of the legal-size Purchase Agreement I had laboriously filled out for submission. The young man “running” my offers (and his broker) were verbally blasted out of the saddle! I got NO acceptances from my 235 offers.

    Yet, I still managed to buy two properties from the 100% (humiliating) rejection. Two property owners approached me later and said, “I can’t accept your offer on that property I had listed with my real estate agent, but I have another house you can have on the same terms!”

    That break-through began my trek into the Nothing-Down Wilderness that made me a start my journey in becoming a millionaire.

    It’s a shame that even some real estate investing tycoons don’t know how to buy with no cash and no credit. But the bottom line is that know-how still makes possible the impossible.

    Buying property of any price is still achievable with no cash and no credit. It’s done every day in residential and commercial property. And because it is achievable, anyone can enter the real estate investing arena, regardless of the size of his or her wallet.

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    Investment

    Education in Real Estate

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    Education in Real Estate 8
    An Education In Real Estate 

    Education in Real Estate 9
    Real Estate Education 

    There are many people that are venturing out and searching for additional ways to make additional income. That is to be expected when it comes to real estate. Real estate has been a popular investment for many years. 


    Many millionaires made their first million dollars in real estate. So it should come as no surprise that Real Estate Investing is being glamorized by celebrities like Donald Trump and various television shows that depict real estate investing as a big money maker.
    Real Estate Investing can be all that celebrities and television program make it out to be, but it is not as easy as it looks. 

    Real Estate Investing requires knowledge of different techniques that can be used when trying to buy, sell, negotiate or repair a house. 

    Without this type of specialized knowledge real estate investing can be a monumental disaster. Here is ROBERT KIYOSAKI STRATEGIES FOR REAL ESTATE INVESTING

    Education in Real Estate 10
    Interior home view

    Having laser specific knowledge can mean the difference between success or failure. Knowledge is what separates those that invest in real estate and those that talk about investing in real estate. 

    The knowledge that is required is not difficult to master. In fact, just about anyone can be a successful real estate investor. 

    I have seen people from all walks of life and educational backgrounds go on to be successful real estate investors. 

    One man that I know and admire very well became a successful real investor despite the fact that he first had to learn how to read. 

    It is possible for anyone to learn how to invest in real estate.


    Who should learn more about real estate investing? 
    Anyone that is considering buying property as an investment should become educated before doing so. Rentals, foreclosures, rehabs, lease options and various other techniques are tried everyday by real estate investors. 

    In most cases however, only the investors who have taken the time to educate themselves will be successful. 
    Also, anyone that is considering buying or selling houses on their own (without a realtor) is at considerable risk of financial loss if they don’t get an education before venturing out into unchartered waters.

    Education in Real Estate 11
    Real estate 
    There are many different types of educational opportunities. One can always purchase books from the local bookstore to get some advice. 

    There is also a large number of websites that cater to real estate investing. Some of these sites will sell home study courses that, in some cases, give a thorough, explanation, training and education on various real estate investing topics. 

    One may also find coaching and mentoring online to help those that don’t believe they are quite comfortable enough yet to do real estate deals on their own. 

    Some colleges and Universities have also started to teach real estate investing.

    It is never too early to start the educational process. 

    Real Estate Investing can be a very lucrative business. It can also bankrupt those that are not ready to invest or that do not understand how to minimize the risks that come with the real estate investing territory. 

    In the end every one that invests in real estate is doing so at their own risk. 

    A proper education in real estate investing is a great way to minimize that risk and start one on a path of financial freedom.


    Money Making Opportunity 

    Education in Real Estate 12
    Real estate sale

    Are you currently looking for ways to make money? Ways that don’t involve working a traditional nine to five job? If you are, you may come across many scams; however, there is good news. 

    With a little bit of research, you should be able to find a number of legitimate money making opportunities. 

    One of those opportunities involves real estate investment.


    If consider yourself to be unfamiliar with the real estate market and all of its happenings, you may not necessarily know what real estate investment is. 

    Real estate investing is where an individual, who can be considered a real estate investor, buys a piece of property. 

    That property is often repaired or updated, if any repairs or updates need to be made. 

    Once the real estate investment property purchased is in top notch condition it is either resold or rented out to tenants. This is where the opportunity to make money comes in.

    When it comes to real estate investment, there are many misconceptions associated with it. 

    One of those misconceptions is that only those who are rich or have unlimited financial resources are able to become real estate investors. 

    This just simply isn’t true. Yes, you will need money to originally get started in real estate investment, but you don’t have to be loaded with it. There are many real estate investors who start out small and then expand from there. 

    For instance, some real estate investors start out with only one or two real estate investment properties and then use their profits to buy additional properties. This approach is nice because it also gives you the opportunity to see if real estate investment is the right money making opportunity for you.

    If you would like to try your hand at real estate investing, it is advised that you take the time to familiarize yourself with it. When it comes to doing so, you have a number of different options. 

    Online, you should be able to find a number of websites that aim to educate hopeful investors, just like you, on how to make money with real estate investment properties. 

    You can also find many books or resource guides on the subject. 

    There are also many real estate investment courses available for you to take. What is nice about these classes is that many are offered locally, while others are offered online. 

    Investing a small amount of money to buy real estate investment how-to books or take a training course are good ways to learn as much as you can about the real estate investment business, such as how you can make money with it.

    Starting your own real estate investment business is just one of the many opportunities that allow you to be your own boss, but it is one of the better ones. As a reminder, 

    You don’t need to be rich to invest in real estate. Honestly, all you need is a little bit of start up cash and the need to succeed. ©Mitrobe

    Education in Real Estate 13
    Mitrobe Quotes 



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    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki

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    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 14
    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 15
    Every business has to have a plan. Your real estate investing business is no different. A strategy is simply a systematic plan of action designed to accomplish specific goals.
     There are seven simple steps to creating a successful strategy.

    Step 1: Imagine. 

    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 16
    Imagination of success


    Begin your strategy with goals. Imagine where you would like your real estate investing to take you. It may be a white sand beach in the Caribbean, unlimited time with your family, or working for your favorite charity. My favorite places in the world are Hauwai’i, France, Arizona, and Park City, Utah. So my dream is to own a house in each of these locations.
    Don’t be afraid of being too aggressive. These are your dreams, after all, not some number that is artificially imposed by a financial advisor. Our clients frequently have dreams of financial freedom in as few as five to ten years. And with a good strategy in place, anyone can be financially free in less than ten years if they just start by applying these few basic business principles to their real estate investing.
    So far, after six years of investing, I now have houses in Hawai’i, Arizona, and Park City. France is on the agenda for next year. Pretty aggressive goals, but I have been able to reach them in six short years by applying basic business principles to my real estate and business.

    Step 2: Financial Goals.. 

    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 17
    Business Goals 
    Determine what it will take to realize these dreams in terms of wealth and cash flow. And commit to a date for accomplishing this goal. Then write down what
    you currently have available in terms of investable assets less the liabilities. This is your current wealth (also called net worth).

    Step 3: Cash Flow Target

    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 18
    Cash Flow 
    Of course, you will need to figure out the amount of wealth that it will take in order to create your desired cash flow. A simple rule of thumb for calculating this number is to multiply your desired cash flow by twenty. For me, I needed
    $5 million in order to create an after-tax cash flow of $250,000 each year.

    Step 4: Current Wealth

    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 19
    Wealth


    Once you have your dream firmly in mind, the next step is to identify where you are today. When considering where you are today, list only your real assets, that is, those that are available to invest. Don’t list your car or your jewelry. But do list the amount of equity in your home if it can be made available for investing  through a home equity loan. Here is an example of what I mean:
    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 20
    These first four steps are the essence of a process referred to as “dreamlining,” and I will use a simple illustration to show you what I mean. Here is what
    my dream line looked like when I first met Robert and started down my road to
    financial freedom.
    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 21

    Step 5: Vision, Mission, and Values

    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 22
    Vision and Mission


    After you have your dreamline in place, you can make a plan to reach those
    dreams. This plan should include your vision, mission and values, the type of hi
    real estate you will specialize in buying, and the criteria you use for choosing
    your real estate investments.
    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 23
    At this point, you may be wondering if I have truly lost my mind. After all, aren’t vision, mission, and value statements only for true businesses? Exactly!
    And your real estate investments are a true business. At least they should be if you are going to reach your dreams in the shortest amount of time possible and with the least amount of work.
    When creating your vision, remember that this represents your focus for the future, that is, what you want your life to look like when everything is in place. Your mission is simply a statement of how you are going to go about your investing business. And your values are the values that you insist everyone you work with in real estate share with you.

    Step 6: Investment Niche

    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 24
    Real Estate


    Once you have your vision, mission, and values in place, you can begin looking at what type of real estate makes sense for you. Every successful business owner knows that you are always most successful when you focus your attention on something you enjoy doing and for which you have a natural ability.
     At my company, ProVision, we have a variety of tools we use to help people figure out which type of real estate they will enjoy the most—multifamily, commercial, industrial, raw land or single-family homes. My personal investment niche remains highly appreciating single-family homes.


    Step 7: Criteria.


    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 25
    Business Staff


    The final step in your strategy—determining your investment criteria—is some�thing that few people take time to do. And yet, if you can determine your investment criteria as part of your strategy, you can avoid a lot of headaches, stress, and wasted time. You can also avoid making costly mistakes. And you will save a considerable amount of time and energy, enabling you to focus on only those investments that meet your criteria. As an example, here are my personal investment criteria:
    Best Real Estate Business Strategy for 2019 | Robert Kiyosaki 26
    You may be asking why you need to spend so much time and effort developing a strategy. We teach our Provision clients about the importance of strategy by playing CASHFLOW 101® with them in a very specific way. If you have played the game, you realize that, on average, it will take two and a half hours. We instruct ur clients that their team (the players at their table) must spend the first thirty minutes developing a strategy to win the game.
    This strategy includes the type of assets they will invest in and their criteria for investing. All members of their team, though playing as individuals, must follow the strategy precisely.
    The result is astonishing. Each player gets out of the Rat Race and wins the game in less than two hours. So even though they have spent an enormous percentage of their allotted time developing their strategy (roughly 20 percent), they finish substantially earlier than they would have without their strategy. This happens every  time, so long as each team member adheres to the strategy

    Also check on 6 Golden rules of wealth creation to finance your real estate busines

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