The Creative Investor - Real Estate Investing Jump Start

There are a few simple steps you can duplicate for success: Establish your real estate business

Determine the business set up
Develop a business plan
Order business cards, letterhead, and any office supplies and equipment

Set long-term and short-term goals; determine the results you want to achieve; focus on the goal and not the journey. Goals must be:

Specific and measurable
Use action words
Believable and achievable
Include target completion dates

Set up your letters to property owners and telephone scripts

Call 20 motivated sellers per week
Research and inspect properties

Visit Courthouse

Obtain property information and valuation at the County Tax Assessor’s office
Locate deeds and mortgages at the Recorder’s office
Become familiar with researching data

Locate and identify legal newspapers

Study types of legal proceedings, lawsuits, judgments, etc…
Use Trustee’s Sales and Sheriff’s Sales to find upcoming foreclosure auctions

Attend a foreclosure auction

Learn process and terms of the auction
Identify what the financial requirements are when purchasing at an auction; which mortgage holder is foreclosing; what happens if a bid is successful; and what are the penalties for non-performance

Establish a working relationship with a realtor. This relationship:

Can help you obtain property comparisons known as comparables or COMPS
Can be mutually beneficial. You can provide leads to the realtor for listings and sales

Make business contacts

Build your power team of: bankers, title companies, attorneys and accountants
Join real estate investment club in your area

Spread the word that you are now a real estate investor

Distribute business cards
Build a referral network

Practice completing contracts and agreements

Familiarize yourself with the necessary real estate forms

Attend real estate Training classes and seminars often Attend with a positive, willing to learn attitude

Take extensive notes and ask questions
For hands-on training, inquire about "Mentor Programs"

Find a coach that will help you with

Answers to specific questions
Review of your property proposals
Writing an offer

SETTING GOALS Do you have a target or a goal? Taking responsibility for your actions is a vital element in developing self-discipline. There are some common personality traits that might account for the differences between the "haves" and the "have-nots."

The "Haves":

Desire/Drive
Commitment/Dedication
Education
Courage
Optimism
Determination
Discipline
Experience
Perseverance
Organization
The "Have-Nots":
Fear of the Unknown
Procrastination
Lack of Education
Complacency
Poor Self Control
Fear of Success
World of Scarcity
Skepticism
Low Self-Esteem
Hopelessness
Never share your goals with anyone unless you know they not only believe you can achieve these goals, but they also want you to reach them.

John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html