Get Rich In Real Estate Investing - Part Three - Massive Action
Massive Action - this is a biggie when it comes to real estate investing. But what is it and what does it look like? So many people have been handed things to them their entire lives that when something doesn't go according to plan they break down. They freeze. Deer in the headlights syndrome.
If an amateur investor doesn't get their property rented out quickly, they will start blaming the people that came through the house. They'll blame the possible tenants for not "seeing" the value in the home, or for not following up, or for not having enough money to put together the first and last month's rent.
The amateur blames everyone but themselves.
You will never get rich in real estate investing like this. If a professional investor doesn't get a home rented out within a reasonable time they go into action, MASSIVE ACTION.
Successful real estate investors do not just do one thing to try and fix the situation. For example, if their yard sign was small, they don't just go get a bigger one. The pros will get rich in real estate investing because they'll go off and do 10 things all at once. A new sign, flyers to the area, improve the street appeal, work on their sales skills, seek advice from a mentor, change their ad, introduce a voicemail system instead of answering calls live so they aren't fumbling the phone in the car trying to answer calls, put up directional "For Rent" signs on street corners...
All too often the amateur investor will do one thing and think they've done enough. Nothing could be further from the truth. When the going gets a bit tough you need massive action to create momentum.
Massive action is what will allow you to get rich in real estate investing. Action, lots of it. Beginners move so slowly at improving their strategy that they lose interest. There’s a mentality among beginner investors that simply having an income property will naturally yield tenants that will be chomping at the bit to rent your property. Unfortunately, you have to do more than just own the property. You have to be willing to put in the work and make it a part of your career. Passive income becomes passive once you have a tenant, until then - it’s massive action!
Stay tuned for next week for the final installment (Part Four) on how to get rich in real estate investing - taking responsibility!
If you are thinking of becoming a real estate investor yourself, or you are already an investor and would like to leverage your current investment(s) into more properties, or you are looking to sell one or more of your investment properties, give me a call at 905-683-7800 and I’ll be more than happy to answer any and all of your questions.
Thanks For Reading Today’s BLOG!
Brian Kondo
Sales Representative / Team Leader
The Brian Kondo Real Estate Team
Re/Max Hallmark First Group Realty Ltd.
905-683-7800 office
905-426-7484 direct
brian@briankondo.com
www.BrianKondo.com
www.BrianKondoTeam.com
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