The people who contact me with the intention of buying an investment property, and actually do it have certain things in common. Some of them take longer than others; some are more discerning than others; some are more cautious than others. But, in the end, they get it done. So this morning while drinking my coffee and looking out at the May rain (what is it doing being cold, windy and rainy in May in L.A. – Randy Neuman, where are you?) I asked myself “What are the common denominators amongst those that make a decision to buy real estate and then go ahead to and do so ?” Well, I did come up with some answers, if you’d like to hear them.
First and foremost is that the people who actually buy have a fairly high degree of certainty that this is a smart thing to do. They have gotten themselves informed or educated on the subject of Real Estate investing, whether through some individual in their lives they know and trust, through a book, a seminar, or a CD , talking to some knowledgeable person in Real Estate, or some combination of these. As a result of this they actually understand why buying investment property is sensible, and they even have some idea as to how to go about it. Or, if they do not fully understand it, they take that extra step of education and get the certainty they need.
Listen, either one should be buying Real Estate investment property or they shouldn’t. There’s no need to be uncertain about this and there’s no need to wonder or maunder around. If you suspect it’s something you should be doing yet you still have questions, you can always contact me and I will either have a conversation with you about it to help you out of your uncertainty (I won’t necessarily tell you you should by the way… investing in Real Estate is not right for everyone,) or I will refer you to the best books and CDs I know on the subject and then you can achieve that certainty that way.
The next important common denominator after one has achieved that certainty is ONE NEEDS TO HAVE A PLAN. There again, this is something that is a common thread with all my people who are actually buying, and it is also something I can definitely help you with. You need to know what it is you are going for, how to go about it, what time you can allocate to it, and what kind of assistance you can expect from someone like me on these matters. If you have these things in alignment you are 95% of the way there in terms of buying Real Estate investment property and being successful at it.
OK, that will do for now. I could probably write a book on this. In fact, my wife and several other friends of mine have told me I should. But for now, I will probably keep this theme going in a series of blogs and bulletins. I hope it’s helpful to you. Have a great day.