Welcome to Robert Paisola's Real Estate Investing Success System. This is now FREE of Charge and we welcome you!
Hello and welcome to the Real Estate Investing Section Success System! By purchasing this information, you have decided that you want to make a change in your life and improve your financial situation. Because you want more out of life, you have taken action, purchased this course, and are now reading through the books and listening to the audio materials. Most people fail to make any effort at all at making a change in their life for the better, so you should be commended for taking that all important first step.
Right now, you probably have a ton of questions about what real estate investing is all about and if the stories you've heard about regular people making money are true. Most of all, you're probably wondering if you can do it too.
As you go through this system, you'll begin to not only see how easy real estate investing can be, but you'll also learn how virtually anyone, including yourself, can make money in real estate using no money or credit.
You may be studying this course because you want to be your own boss and become rich and financially free. Or you could be simply looking to supplement your income or provide for your retirement by buying one or two properties a year working as a real estate investor in your spare time. Or, you may find real estate investing interesting and want to do it as a profitable hobby.
In any case, the resources to turn your dreams into a reality are in this course.
This course is designed to teach you everything you need to know to get started as a real estate investor or how to buy your home with little or no money down and using no credit. The techniques in this course are fresh and they work. While this course is not a get rich quick scheme, if you put a little time each day into the system it will truly change your life and your financial future.
Can This Really Be Done?
The first thing on your mind right now is probably whether or not you can actually buy real estate using little or no money or credit, and you may be wondering if this business is for real. Almost everyone has heard about creative real estate investing and buying real estate with no money down. Realizing that there is so much of this talk:, some part of it must be true.
Many people think that there is a catch to this business of real estate investing. However, it is important that you not draw conclusions as to what can and cannot be done in real estate.
There are conventional ways of buying and selling real estate and then there are unconventional "creative" ways. It's these creative ways of buying real estate using none of your own money or credit that are most popular among today's small real estate investors. The creative techniques such as those taught in this course can be done by virtually anyone regardless of their credit or current income situation. You can even buy and sell properties regardless of the economy and it will work in your area regardless of what city you live in.
What level of success you achieve is mainly determined by your personal goals and how dedicated you are at achieving success. Yes, some investors do make tens-of thousands of dollars within a short period of time or gain financial freedom. And yes, you can make some quick cash or start earning extra income right away. However, for the average person, it will usually take at least a couple of years to achieve consistent results so they can declare financial freedom. Just remember, anyone can make money in real estate investing, but only if they take action and stick with it.
The greatest thing about this business is that you don't have to become a savvy real estate investor to acquire two or three rental properties, so you can live more comfortable now and provide for your retirement later. If you manage a few investment properties correctly and invest your cash flow wisely, you can easily become financially free in only a few years.
By taking action, following the steps in this course and completing the tasks in the action guides, you can't help but make money and achieve success. However, if you just let this course just sit on your shelf, you obviously will not achieve anything.
You Don't Need Money Or Credit
It does not take money or credit for this business. Sure, you've heard this before, but how? How can anyone buy real estate using none of his or her own money or credit?
Again, don't draw conclusions as to what can or can not be done in real estate. Going down to a bank, having the bank pull your credit and then putting five or ten percent down, is the conventional way of buying houses.
In this instruction you'll learn why you never have to deal with banks if you don't want to. You'll also learn how you can start investing in real estate without any money or credit and you don't have to use partners if you don't want to either. If you do happen to have money or credit, then great! Things will be even easier and there will be more doors open to you.
Buying Your Own Home
Most people think that they can't buy a home to live in because they have bad credit, or they feel they can't afford the down payment. While these things may stop you from qualifying for a bank loan, they will not stop you from buying a home using unconventional methods.
There are several different ways to buy a home other than the conventional way of going down to the bank, qualifying for a loan and putting up a down payment. You'll learn everything you need to know to buy your own home, as you go through this course. You won't have to save up for a down payment or worry about being turned down for a loan.
Your Current Job And Becoming Financially Free
Becoming financially free can be great, but we are not going to tell you in this course that you should abandon your current career to become a full-time real estate entrepreneur. In fact, we recommend against it unless that is truly what you want and you have the personal ability to succeed.
For some of you, this course will allow you to get started in real estate investing part-time and then eventually become a full-time investor. Others of you may never want to quit your job at all. Your goals may be simply to supplement the current income you get from your career while at the same time using real estate to help provide for your financial needs or retirement. You may also want to keep your job for income stability, satisfaction and the company benefits that come with it. However, real estate investing can still be a very fulfilling and profitable hobby for you.
What This System Covers
Before we get into exactly what the Section system is and how it works, let's go over what this course will and will not cover.
This course covers everything you need to know to get started from A to Z and is written from the standpoint of "you" the beginning investor. The techniques and strategies within this course are what real people just like yourself are doing to make money in real estate and to achieve financial freedom.
Everything is down-to-earth investing techniques and strategies. You'll get an honest 1clok at creative real estate investing without any off-the-wall techniques that don't work in the real world or any far-fetched ideas that few people can ever do. Even if you are already investing in real estate, this course will give you new ideas and strategies that will open up new doors, and get you looking at real estate investing in a whole new way.
You'll learn what the four most popular investments there are among small real estate investors. We'll be referring to these four ways as the "Deal Sections" and you'll learn more about them in just a few minutes.
You'll also learn the components that make up a real estate investment deal, from the financing techniques and financing sources, to the paperwork and people involved; and of course, finding the real estate and putting deals together. You'll learn how to get your ducks in a row before you go out and look for houses, which not only dramatically increases your chances for success but also gives you a boost of confidence that if you do find a deal, you'll be able to execute the investment and make money.
What This Course Doesn't Cover
There are several things we won't be covering in this course.
Worthless Or Rarely Used Techniques
As we just said a minute ago, this course does not cover rarely used techniques or far-
fetched ideas or scenarios. While some rare situations do happen and some rarely used techniques can be used to make money, there are just so many different situations that you can come across as a real estate investor and no course could ever cover all of them. Also, it is important as a beginner not to get distracted by such miniscule techniques that are seldom used by investors. Such techniques would be like .
offering to purchase an item for a seller rather than giving them cash at closing, or .
asking a real estate agent to take back their commission in the form of a note.
The biggest misnomer you may have heard from other authors is that you should look for "assumable", "non-qualify" VA & FHA loans. These types of loans are almost none existent today and if you did happen to find one, the balance would be so low that you probably wouldn't be able to take over the house for just the loan balance and still be able to make the deal work. That's why we'll be sticking to the most popular techniques and strategies used by today's investors, which can be done by the average person like yourself on a consistent basis.
Everything Is Legal & Moral
Every technique in this system is legal and nothing you'll learn is immoral. Always
remember, you don't have to do anything unethical or immoral in this business to make money. Nor do you have to lie, cheat or steal. And if you do, you won't be in
this business very long.
You Don't Need A License
You also will never need a real estate license to do the investment techniques in this course, because you will always be an involved principle in the deal. You will either be a buyer or seller, lessor or lessee, optionor or optionee. You only need a real estate license when you are selling a property for a commission and you do not have an equitable interest in the property.
Being a principal in the transaction is where the real money is at anyways, not standing on the sidelines as a real estate agent watching investors walk away from closing with the big checks while you get roughly a quarter of a commission check. That's right, a quarter of the commission check. Usually there is a listing agent as well as a selling agent. Each agent usually splits their part of the commission with their head Broker. That makes four people dividing up one commission check of only a few percent of the sales price.
Having a real estate license does have its advantages as well as disadvantages. One of the advantages is that you can gain access to the Multiple Listing Service, commonly referred to as the MLS. (This is basically a database system of property listings.) You can also make an extra fee when purchasing a property. But again, that might not be very much.
Some of the drawbacks of having a license are that you are held to a higher standard if you have to go to court for any reason. You also must disclose to sellers and buyers that you are a licensed agent even if you are not taking a fee and if you are going to take a fee as a real estate agent, you must disclose that as well.
Just remember, you want to be on the side of the closing table where the big bucks are, and that is on the side where the buyers and sellers sit; not on the side where the people doing the closing are. That is why many real estate agents are taking a hard look at what the real estate investors out there are doing. By the way, if you happen to be a real estate agent study this system, you'll need to throw all the conventional things you have learned out the window.
No Commercial Property or Vacant Land
There are three main types of real estate that you can invest in. They are vacant land, commercial property and residential property.
We won't be covering commercial investments or investing in raw land.
Commercial properties are retail centers, shopping centers, office buildings and strip malls. These types of commercial investments tend to be large investments requiring a lot of expertise and money. For this reason, this type of investment is not popular among small investors.
Raw land tends not to be a good investment because it requires buying a property and holding onto it for a long time in the hopes that it will appreciate. In the mean time, you have to pay taxes and make mortgage payments on the property, which most likely would eat up any profit you may have in the future anyways. Vacant land also usually does not produce any income that can be used to offset the expenses of ownership such as the mortgage payments and taxes. Another way to make money in raw land is to subdivide it into smaller pieces. However, this is beyond the realm of this course.
The old saying "they are not making any more real estate" causes many people to go out and buy vacant land thinking it is a good investment. However, raw land is usually not a good investment. It just isn't the right investment vehicle for an individual to build wealth with when starting out with little or no money, and possibly limited credit.
As a beginning investor you will mainly want to focus on residential properties. Single-family houses and small multi unit properties are the best investments for beginning investors. They are more easily financed, have lower overall purchase prices and they are very plentiful. That's why this course focuses on residential property and multi-unit apartment buildings of four units or smaller.
Understanding The 4 Section System
Creative real estate investing has been around for many years and has been taught by many different people. Other courses usually teach you how to invest in real estate with a start to finish approach and then quit.
This start to finish approach usually begins with finding property. The problem with this approach to teaching is that the student feels insecure about being able to execute the deal if they actually do find the right property, at the right price, and the right terms. The reason why the student usually feels insecure and lost is because they have not gotten their ducks in a row ahead of time because the course that they were reading did not teach them that they must do certain things before they go out and look for real estate. You may even already own one of these courses that has left you confused and feeling that you need more information. If so, don't worry any longer. This system will take the fear out of moving forward and taking action by giving you an action plan designed to prepare you for finding that all important first deal (or next deal).
What Is The Section Success System?
The concept behind the Section System is to first break real estate investing down into four main types of investment strategies, then to further break these strategies down into their four main components.
Learning and understanding the two sets of Sections is essential to being a creative real estate investor.
The Deal Sections
The first set of Sections is what we'll be referring to as the "Deal Sections", because they are the types of deals you can do as an investor.
The four Sections are "Wholesaling", "Retailing", "Seller Financing" and "Rentals". These are the four most popular ways to make money in real estate. We'll go into them in more detail in just a minute. But first, each of these four types of investments can further be broken down into four main components, which we will be calling the
"Action Sections".
The Action Sections
Action Sections are the four major parts that make up an investment.
They are "Money", "Agreements", "Contacts" and "Real Estate".
These four Sections will be the main focus in this system because every creative real estate deal involving residential property is composed of these four main elements.
But why are they called "Action Sections"?
Because the key to success is getting all your ducks in a row and to do this, you must take action in all four "Action Sections". It is this plan of action that the Section Success System is all about.
The Deal Sections represent the four main types of deals you can do when investing in residential properties using little or no money, and no credit. These include "wholesaling" properties for quick cash, fixing up properties and "retailing" them, doing deals based on getting "seller financing", and building a portfolio of "rentals".
Each of the Deal Sections above can be broken down into the four main components you must take action to assemble when doing an investment deal. Those components are the "money" or financing, the "agreements" used to put the deal in writing, the "contacts" you work with; and lastly, the "real estate" property itself.
How The System Works
This system works by breaking real estate investing down into Sections so that you as the student are able to see every aspect of the real estate investment deal from the inside out. This will give you a clearer understanding of the types of investments you can do and of the components that make up a real estate deal, so you can better see how everything fits together. You'll also have a clear plan of action so that when you locate a deal, you'll recognize it and be prepared to take advantage of it.
Why The Section System Is Important
There are two parts to actually "becoming" a real estate investor. First you must learn the business and second, you must actually go out and take action to do it. Seems simple enough, right?
We have done a lot of research into the questions beginning investors have and the mistakes they make when getting started. We have also taken a look at how students are able to retain the information they study, as well as what they do to take action on what they have learned. What we found was that most beginners who read other books or courses, weren't getting a clear picture on how everything is put together, nor did they have a clear understanding of how to take action and get started.
A System Of Learning
The very first step to getting started is to learn. But there are virtually no books or courses out there on real estate investing that have an actual system of learning. The material usually leaves the reader with a blurred vision of how everything works and the reader is left with a feeling that something is missing. That is why this system is designed to break real estate investing down into pieces you can learn, understand, and remember.
A System Of Action
Once you've learned all the aspects of real estate investing, you must get out and take action. Of course, the key to taking action is to have a plan. This plan must prepare you to take advantage of investment opportunities first, then have you locate the investments.
The Section Success System is that plan and you'll find an "Action Guide" outlining the steps you need to take, in the back of each module in this system.
So Let's Get Started!
In this first module, "Getting Started", we'll go over the Deal Sections so that you understand what types of deals can be done and you can better decide what areas of investing you want to focus on most. We'll also give a brief overview of the Action Sections and their importance.
Later in this system, we'll then go to the heart of the Section Success System by covering each of these Action Sections in detail, as well as create a plan of action so that you to can become successful as a real estate investor.
Now that you have a basic understanding of what the Section Success System is, let's take a closer look at the first set of Sections called the "Deal Sections".
The Deal Sections
In this chapter, we will go over the Deal Sections, which are the four main types of investments which we will cover in this course. Again, they are Wholesaling, Retailing, Seller Financing, and Rentals.
Seller Financing is subcategorized.
Types Of Seller Financing
They are,
· "Subject To",
· "Seller Held Mortgages",
· "Agreement For Deeds",
· "Lease Options", and
· “Straight Options".
These are the types of investments individual people are doing all over the country.
There are spin-offs from these ways to invest but for the most part, these spin-offs will still fit into these four Sections and we will try to cover those various twists as well.
When going over each of the four types of investments, we'll discuss the objectives for doing the deal, what types of properties you would most likely be investing in, and the advantages and disadvantages to that type of investment.
Know Your Exit Strategy
The first thing you do in any investment is to decide what type of investment it will be and what you're going to do with the property.
· Will you turn the deal over to another investor for a quick finder's fee?
· Or will you fix the property up and sell it retail to a homebuyer who will live in it?
· Maybe you'll want to keep the property as an income-producing rental, or maybe you'll create a no money down deal for yourself to live in.
How you plan to complete the deal is commonly referred to as knowing your "Exit Strategy" and is a term used by real estate investors to describe how they plan to sell a property and make a profit.
Know Your Exit Strategy Going Into The Deal
You should always know exactly what you are going to do with a property before you buy it. You'll also never want to make an offer on a property unless you know exactly what you are going to do with it if the offer is accepted; nor will you ever buy a property and then figure out what to do with it after the fact.
How you go into a deal many times will affect your exit strategy or how you go out of the deal.
In other words, if you pay all cash for a property, you may not be able to keep that cash tied up for a long period of time.
Therefore, you would either need to…..
· flip the property to another investor for a fee,
· fix the property up and retail it to a home buyer, or
· refinance the property to get your cash back.
Choosing The Right Exit Strategy
Your exit strategy is based on three main factors.
These factors are:
· your personal goals,
· the seller's needs, and
· the property itself.
Your Goals
First of all, your goals are very important when deciding what types of investments to
do. For instance, is your immediate goal to make some quick cash or to build a retirement nest-egg? If your goal is to build a monthly residual income, you'll have to consider the exit strategies that produce a monthly income, such as Lease Options or rentals. If your goal is to make some quick cash, you'll have to consider doing some wholesale or retail deals.
The Seller's Needs
You'll also need to consider what the seller's needs are. Is the seller a bank needing all cash or is the seller a private individual simply looking for debt relief.
For instance, if you are looking to lease a property with an option to buy, bank owned properties are not good prospects because most banks are looking to sell for cash, especially when the property needs work.
The Property
Finally, you must analyze what type of investment a property is most suited for.
· Is the property in a resalable area suitable for selling to a homebuyer, or is the property located in an area that is more suitable for a tenant?
o You don't want to be rehabbing and retailing a house that is in a war zone, for example.
· Does the property need repairs and are you prepared to have them done?
Don't worry if you think that deciding on an exit strategy is complicated. Once you know and understand the choices involved, deciding what to do will be pretty easy.
After Initial Training
Review
Let's review what we have covered in this unit and take a look at the big picture of how each of the Deal Sections are similar and how each of them differ.
We went over the four Deal Sections which are ...
· the Wholesaling Section,
· the Retailing Section,
· the Seller Financing Section
o Sub2
o Contract For Deed
o Seller Carry Equity
o Lease Option
o Straight Option (Flip)
· Landlording Section.
In the Wholesaling and Retailing Sections, the deal is in the price, while in the Seller Financing Section, the deal is in the finance terms. All three of these Sections offer big paydays.
In the Wholesaling Section, you are able to flip properties for a quick profit without needing credit, money or doing any repairs.
While Retailing is the most difficult Section, you can make the biggest paydays by buying properties, fixing them up, and then selling the property to a homebuyer.
In the Seller Financing Section you have the ability to control beautiful houses in beautiful neighborhoods using little or no money, or credit. And, the nicer and more expensive houses can offer the larger spreads and profits.
And lastly, the Landlording Section and the Seller Financing Section provide residual cash flow that you can't get in the Wholesaling and Retailing Sections.
The Action Sections
Up until now we have gone over the Deal Sections and the various ways to invest in real estate creatively. The second set of Sections we are going to cover are the "Action Sections". The Action Sections are the main focus of this course and Modules 2, 3, 4, and 5, are dedicated to each of them.
What Are The Action Sections?
Every investment deal can be broken down into four main components or what we will call "Action Sections".
They are
· Money,
· Agreements,
· REI Contacts and
· Real Estate Investing as a Business
It is not only important to take action, but to take action in the right order.
Every deal requires some form of money, whether it is your own money, money from a private lender, money from a bank, or money from your buyer.
Secondly, every real estate investment involves written agreements.
Furthermore, to do a real estate investment requires Contacts. These contacts are not only limited to real estate agents, Mortgage Brokers and Closing Attorneys, but also include your list of buyers, motivated sellers, and many other types of contacts that you'll be dealing with when putting a real estate investment transaction together.
And lastly, that brings us to the real estate investing as a business.
After all, what would a real estate investment be without the actual real estate investing tasks to do?
Why Are They Called" Action Sections"
We call these four components "Action Sections" because you must take action to put these four Sections together so that you have a real estate investment deal.
The only way you'll ever get anything done is by taking action. In order to be successful, it is vital that you have a complete understanding of each of these components and have a plan for taking action. That is why the Action Sections are the main focus of this educational material.
Taking Action In The Right Order
Many REI students study other courses that don't have a system of taking action.
One of the first things most of the students do after completing one of these other courses is go out and start looking for deals. In reality, this is the last thing you should do.
Let's say, the first thing you did was go find a house that is priced very cheap.
· Where are you going to get the money to buy it?
· What closing agent would you use?
· If you had to repair it, who would do the repair work?
· If you planned to wholesale it, what investors would you send by to look at the deal?
The reason why most beginning investors fail is because they take action in the wrong order. They go out hoping to find a deal and think that all the pieces will somehow just fall into place.
The Order Of The Action Sections
The Action Sections are structured in the following order ...
1. The Money Section
2. The Agreements Section
3. The Contacts Section
4. The Real Estate Investing as a Business Section
Getting Your Ducks In A Row
There is a very special reason why the Real Estate Investing as a Business Section is last and it is one of the key aspects of this system ...
1. You must understand money, when you need it, how to get it, and how to get around needing it.
2. You must understand the Agreements that are involved and ...
3. You must have the proper contacts in place before you go out looking at real estate, otherwise you are wasting your time.
There are a lot of courses out there on real estate investing and at REISkills.com, we have researched what many beginners usually do after reading one of these other courses. Almost all of them went straight out looking for houses.
They barely understood the techniques and they had no foundation on which to work if they found a deal.
This is one of the key reasons why the Section Success System was developed and why the Real Estate Section is the last Action Section.
Identify Your Weaknesses
Another purpose of the Action Sections is to break real estate investing down so that you can see the major components of doing real estate deals.
By being able to see the big picture, you are able to identify areas in which you are weak & correct them.
For instance, take a brief look into the Money Section and ask yourself ...
· How many sources do I have for borrowing money if I need it?
· Do I understand the different loan programs that are out there and how to get a loan for myself or my buyer?
After going through this educational material and learning each Action Section in detail, you will be able to continually keep looking at all four Sections to identify and eliminate any weaknesses.
Implementing The Section Success System
There are three main steps to implementing the system in this course.
1. The first step is to learn the actual system.
2. The second step is to decide what types of investment strategies appeal to you most and decide what your investing goals are going to be.
3. And third, the most important step you will ever make, is to go out and take action.
Let's take a closer look at each of these three steps ...
Step 1 - Learning The System
The first step to becoming a successful real estate investor is to study this course and learn the system. You must learn what it means to break real estate investing down and how to analyze deals, as well as how to analyze yourself, your goals, your weaknesses, and your personal abilities.
Studying This Course
When studying this course, it is important that you go through each module as they are numbered. This is because each module builds on the previous one. If you study them out of order, you may find it more difficult to comprehend everything as a whole and your comprehension of this system will be the key to your success as a real estate investor.
Study Completely Before Doing Workbooks
It is best if you read this course or listen to the audio materials at least once all the way through, before doing the workbooks. This way, you will have a better idea of how you will be progressing to the point where you have all your ducks in a row and can execute a real estate deal like a pro.
Don't just go through this course and then run out doing things from memory. The workbooks in this course are not there for you to just look at. The workbooks are there to make sure you get all your bases covered properly. Otherwise, you may find yourself looking at a real estate deal and being unprepared to take advantage of it. And don't worry, the tasks in this course are not too hard for the average person to do.
Go Through The Materials At Least Twice
Once you've gone through all the course materials and have begun doing the workbooks, continue studying by going through the materials a second time. By doing this you will pick up bits of information that didn't quite sink in the first time and you will have a better understanding of the "big picture" the second time through.
After two to four weeks, consider listening to the course and going through the course materials a third time. You should get to the point that you fully understand the material and can repeat the strategies and techniques from memory.
Step 2 - Decide What You Want To Do And Set Goals
The second step to implementing the Section Success System is to decide what you want to do. This may be a little hard to do right now because you are just starting to study this course. You may have to complete this entire course so that you have all the information about the types of investments that can be done, so you can make an informed decision. Then, making the decision on what types of investments fit your goals should be much easier.
Deciding What Types Of Investments You Want To Do
You must first decide what type of investments you want to do. In other words, what Deal Section (or Sections), do you want to focus on most? Do you want to do a few Wholesale deals and make some quick cash, or do you want to buy a property, fix it up and then Retail it? Do you want to buy a property for yourself with no money down and without qualifying, or do you want to build a rental portfolio?
Being A Diversified Investor
It is important that you not limit yourself to just doing one investment strategy.
When you start advertising and finding deals, you will have all types of situations thrown at you. As a real estate investor, you don't want to go around with blinders on looking for one specific type of investment. If you do, you are missing out on well over half of your investing potential. To make the most of what real estate investing has to offer, you will want to be a diversified investor so you can make money on every deal type, size, and shape, that comes your way.
No Cookie Cutter Approaches
If you are trying to approach real estate investing with a cookie cutter approach, you are limiting yourself with only one exit strategy. Thus, if you come across a deal that does not fit your cookie cutter exit strategy, you'll most likely pass it up, which means you are passing up income and profit.
Setting Goals
Right now, you probably have several goals in mind that you want to achieve. You may want to quit your day job and become financially free, or you may simply want to build a small portfolio of investments properties that can provide for your retirement. This is all great, but for now you should simply focus on the goal of completing this course and one other goal that we're going to refer to as "Goal #1".
GOAL #1 - Your First Deal
It is great to set goals to be financially free or to be able to quit your job and not have to worry about money. However, there is one goal in real estate that comes before all others. You must do your first deal! For now, this will be your #1 goal.
If you have already done your first deal, that is great. You can now set your sights on becoming more financially free. However, if you haven't yet done a deal, you must set the goal of doing one deal first. Before you can achieve goals of buying four or five rental properties you must buy the first one. At this point, do not focus on becoming rich, buying a bunch of rental properties, or making enough money to quit your job. Just focus on that first deal.
Getting that first deal and achieving success can be somewhat scary at first, but don't worry. To achieve this first deal you must have a plan and that plan will be laid out for you in this course. Start by learning what to do and then take action one-step at a time. If you can line your ducks up in a row so that you accomplish your first deal, then you can do it for your second deal, third deal and so on. Each time, things will become easier-and-easier for you and your confidence will grow deal-by-deal as well.
If you have what it takes to do just one deal, then you have what it takes to become financially free and change your life forever.
Step 3 - Taking Action
The third step to implementing the Section Success System is to actually get out there and take action .
* You are not going to make any money reading this course. You're only going to make money by taking action and there is only so much you can learn from books and tapes.
Eventually, you have to put the books and tapes aside and get out into the real world and start learning what works best for you.
To Succeed You Must Have A Plan
In order to take action properly you must have a plan and that plan is covered
throughout this course.
The main focus of this system is to break real estate investing down so that you can see each aspect of an investment. The purpose of this, is so you can take the appropriate and thorough action in every area that makes up an investment deal.
After reading and studying this course, you can then do the Action Guide Workbooks. These workbooks layout a clear plan of action you must take to get started.
Remember, in this course is everything you'll need to get started, but none of the information will do you any good unless you take action.
Why People Fail To Take Action
Even having such a clear plan of action as set out in this course, you have to ask the question of why some people still fail to take action or do something to take control of their financial future.
There are several reasons why people don't take action even when they know what needs to be done. If you fail to take action, you ultimately will never achieve success. Therefore, it is important that you understand the reasons why some people don't take action, so that you don't make the same mistakes.
Being Simply Lazy
The biggest reason some people don't take action has to be that some people are just
simply lazy. This may sound like a very simple problem, but the results of being lazy can be devastating on your financial future. There are some things you can do to help motivate yourself, which brings us to our next reason why people fail to take action.
Focused On The Wrong Pains
So many people do not take action because they associate pain to doing the task itself,
rather than focusing on the pain caused by the consequences of not taking action, such as living paycheck-to-paycheck or working in a dead end job.
Think about how you are letting your financial future slip by because you are not taking action. You are selling your life away hour-by-hour for a few dollars, worried about losing your job and your paycheck.
Realize how much you will miss out on and how hard life can be if you don't take action. When you focus hard enough on the pain of not taking action, it suddenly becomes a lot easier (and you have a lot more motivation), to go out and do something to change your life.
Failing To Take Action Because Of Fear
Another reason why some people don't take action is because they fear the results that taking action may bring, such as change and more responsibility.
Fear fills you with doubt and insecurity. It can cause you to procrastinate or to sabotage your own success. You can begin to make excuses for yourself. You mayor may not be one of those people who suffers from fear and allows your fear to prevent you from taking action. If you are, you must learn to identify and control your fears.
Fear Of Taking Risks
Some people don't take action because they have a fear of taking risks, even if the risk is minimal. Sometimes, people will make excuses and say there is a risk when there really isn't, just so they can justify not taking action.
What do you think is risky? Is it safer to do nothing about your financial future? Many successful real estate investors would say that clinging to job security and working to make someone else rich all your life, is extremely risky. There is usually some level of risk in every venture. However, knowing how to minimize and control the risk, is the key.
Fear Of Failure
Many people fail to take action because they have a fear of disappointment or failure. It is normal to be a little afraid or nervous as a beginner. But don't let that stop you. Your winning strategy must include failure. No one can expect to win one hundred percent of the time.
Learn From Your Mistakes
The difference between people who are successful and those who aren't is that successful people learn from their failures and mistakes, and they don't give up when they fall down. If they fall down, they get back up and try again.
You must be mentally prepared to make mistakes and to have failures. "Failing" is not bad, "Quitting" is bad.
Look at the mistakes you make in a positive way. Learn from your mistakes and ask yourself what you could have done differently. Look at what is working and what is not working, and constantly change your approach until you achieve the results you want.
Make Time
The next important part of taking action is to find time if you have a busy schedule.
If you work a full time job and have a family like most people, you have very limited
spare time if any at all.
Be sure to identify any spare time you do have that can be dedicated towards changing your financial future. Next, try to find things in your current schedule that are not important such as watching TV, and refrain from doing them so you have even more additional time freed up. Then use this time as productively as possible.
Take Consistent Action
You must also get yourself to take consistent action. Don't just take action on a short-
term basis. The actions you take must be consistent and relentless now and in the future. So don't allow yourself to backslide into going about your normal daily routines and not focusing on your financial future.
Visualize Yourself Taking Action
It also helps to visualize yourself taking action and doing things that are in this course.
Visualize yourself looking at properties and making phone calls to sellers. By visualizing, you make it more comfortable to take action because it is almost as if you have already done it.
Surround Yourself With Like-Minded Individuals
Try to surround yourself with like minded individuals by visiting your local investor association (if there is one near you). You can get a list of associations by visiting the
Avoid Negative Thinkers
Try to avoid negative thinkers. It is important to understand that if you listen to negative thinkers, they can steal away your motivation to take action and ultimately your dreams. So be very careful from whom you take advice or suggestions and avoid negative thinkers and criticism, especially from other people or even your own relatives who can barely scrape together a living for themselves. Don't let broke people who know little or nothing about real estate investing, steal away your motivation and your dreams, and keep you from doing this business.
When taking advice or suggestions, ask yourself. .. Is this person qualified to teach me how to become rich or wealthy? What is that person doing in their life and what have they achieved?
When at a meeting, ask people about the deals they have done and how they did it. . Realize there are two types of people at those investors associations; people who are taking action and doing deals, and people who are procrastinating and watching everyone else make money. You have to decide which one of these two types of people you are going to be.
Lastly, contact us at Team@REIMENTORING.com for more information on the coaching programs we offer.
The action plans within our coaching programs are even more intense than the action guides in this course. While the core of the information is in this course, it is our coaching plans that take you to the next level by leading you by the hand. Being held accountable for action you do or don't take can be a tremendous boost to your success.
Get Organized And Setting Up Shop
As a beginning investor, there are things you need to do to get yourself organized.
Making A Space To Work
Start by setting aside a space in your home for working, for doing deals, and conducting your business. It is important if possible that your work space be secluded enough that you will not be disturbed by other family members while working, studying, or on the telephone with important contacts and sellers.
Your workspace should at least consist of a table to write on and a telephone. The phone should also have call waiting and either an answering machine or voice mail
system.
By setting up a space in your home for doing business you will feel more professional and dedicated.
Tools Of The Trade
As a real estate investor, there are certain "tools of the trade" you must have.
Get A Daily Planner
First, get a daily planner and use it. The most important tool you can have as a real
estate investor is a daily planner so you can keep track of who you need to call, along with people's phone numbers. You can also put a to-do list in your planner.
Cell Phone
The next most important thing an investor needs is a cell phone. A cell phone can
instantly put you in contact with real estate agents and sellers while you are at a property. It will also allow agents, sellers, other investors, and also homebuyers to easily contact you no matter where you are. You don't want to miss that million-dollar phone call from a seller with the deal of a lifetime.
A Fax Machine Is A Must
You are also going to need a fax machine because you will be faxing things back and fourth to your title company and real estate agents and maybe even other investors.
If you have a computer you can get fax software to use with a scanner. However, we highly recommend that you get a dedicated fax machine on a dedicated phone line that does not require you to flip a switch or turn it on for it to receive faxes while you are out. A dedicated phone line will only cost you about $10 or $15 a month or you can get a phone line switch that will automatically switch the phone line over to your fax machine when the switch detects an incoming fax.
A Filing Cabinet
You should also have a filing cabinet to store important documents and files that is dedicated to your investing endeavors. You may not need one right away but once you start looking for deals, you'll find yourself needing a way to keep all your papers organized.
Digital Cameras
A digital camera can also be very handy.
If you are tracking down vacant houses or dealing with "for sale buy owners", a digital camera is a necessity. One of the most effective ways to get deals is by following up with a seller two or three months down the road. You are going to need that picture so you can remember the property and the physical condition it was in.
These cameras have really come down in price in recent years and you can get a cheap one for as little as $50 dollars or so. You could use a 35 mm camera; however, it will tend to get expensive developing film and you won't want to use a Polaroid camera because the picture quality is so low.
Street Map
A street map is also a must for any real estate investor. It is best to have one that is a book rather than a large foldout sheet. The book style maps are much easier to handle when you are in your car.
Personal Computer
Finally, if you do not have a personal computer, you should seriously consider getting one. They can be very handy for drawing up agreements and tracking your leads. There are also a ton of resources online for real estate investors including the www.RobertPaisola.com website.
Setting Goals
Which Deal Sections did you find most appealing to you and why?
What is the ultimate goal you want to achieve by studying this course?
Set a goal as to how much time you will dedicate to real estate investing each day or each week.
Take your main goal and come up with short-term goals that you must achieve first:
· 30 days:
· 90 days:
· 6 Months:
· 1 Year:
List as many consequences you can if you fail to take action to change your financial future.
(i.e. Will be stuck in a dead-end job, won't be able to spend as much time with family, etc.)
