The 3 Tools EVERY Real Estate Investor Needs
I am always being asked. "Doc what advice can you give me that will help me with investing. What tricks of the trade or inside tidbits can you share with me?? The best answer is you need to develop a "toolbox".
Now before you go nuts scratching your head, let me define the areas of the tool box. The tool box has three areas.
1) Mental tools: This is the part of the tool box most of us use the most. It is all about how we think about investing. Are you a outside the box type of thinker?? Or do you follow a set program to help guide you in your investment choices? It is how your brain reacts to the idea of a new investment...the mental aspects that make up the checklist in your head.
It is the results of the information you have taken in about investing.
IMPORTANT FACT: Any bookstore you go into has a billion books on Real estate investing. Buy them all...ok not all but you should have a EXTENSIVE collection of them. Why you ask??? Simply put...if you have a understanding of the information and tactics that are being read by other investors...you will actually understand the factors that they are using to buy/sell/screen potential investments. Knowing what information someone is useing to make a decision gives you and advantage.
The E-tool box: Your online tool box. What websites are you useing online over and over. Most real estate investors only use a few sites. I have found this can lead to a sort of tunnel vision or what I call "INFO INPUT SHUT DOWN".
The answer is very easy it's called the opt in newsletter/update. Here is how it works.
Just go to the free email server of your choice...create a new email address that you will use to collect email updates/newsletters from various websites. then go thru them at your leasure.
Once your on a email list I suggest allowing a few weeks before opting out of it. Just because it doesnt give you the "diamond in the rough" on the first email doesnt mean the newletter your getting is worthless. Newletters to look can originate from RE investment clubs, Blogs, News sites...etc
I ,myself, avoid most ad based emailing lists. however, that doesnt mean that all of them are a waste of time. review a few and decide for yourself if they are worth keeping.
My favorite online tools/sites are the ones that cost me very little to use/buy or better yet are free to me. I love to find good resource sites. ( I admit freely I normally link them to my own) A good web tool is a great thing to find. Im not refering to another mortgage calculator...I mena that online tool your just dying to try out. When you find them...bookmark them.
3) And last but not least... actual physical, hold in your hand, tools. It can be a great "go by list". A solid flash light. anything that makes the time in the field looking at investments easier.
So there it is..the outline to your toolbox. Build one...update it often..and USE IT DAILY. - 23159
Now before you go nuts scratching your head, let me define the areas of the tool box. The tool box has three areas.
1) Mental tools: This is the part of the tool box most of us use the most. It is all about how we think about investing. Are you a outside the box type of thinker?? Or do you follow a set program to help guide you in your investment choices? It is how your brain reacts to the idea of a new investment...the mental aspects that make up the checklist in your head.
It is the results of the information you have taken in about investing.
IMPORTANT FACT: Any bookstore you go into has a billion books on Real estate investing. Buy them all...ok not all but you should have a EXTENSIVE collection of them. Why you ask??? Simply put...if you have a understanding of the information and tactics that are being read by other investors...you will actually understand the factors that they are using to buy/sell/screen potential investments. Knowing what information someone is useing to make a decision gives you and advantage.
The E-tool box: Your online tool box. What websites are you useing online over and over. Most real estate investors only use a few sites. I have found this can lead to a sort of tunnel vision or what I call "INFO INPUT SHUT DOWN".
The answer is very easy it's called the opt in newsletter/update. Here is how it works.
Just go to the free email server of your choice...create a new email address that you will use to collect email updates/newsletters from various websites. then go thru them at your leasure.
Once your on a email list I suggest allowing a few weeks before opting out of it. Just because it doesnt give you the "diamond in the rough" on the first email doesnt mean the newletter your getting is worthless. Newletters to look can originate from RE investment clubs, Blogs, News sites...etc
I ,myself, avoid most ad based emailing lists. however, that doesnt mean that all of them are a waste of time. review a few and decide for yourself if they are worth keeping.
My favorite online tools/sites are the ones that cost me very little to use/buy or better yet are free to me. I love to find good resource sites. ( I admit freely I normally link them to my own) A good web tool is a great thing to find. Im not refering to another mortgage calculator...I mena that online tool your just dying to try out. When you find them...bookmark them.
3) And last but not least... actual physical, hold in your hand, tools. It can be a great "go by list". A solid flash light. anything that makes the time in the field looking at investments easier.
So there it is..the outline to your toolbox. Build one...update it often..and USE IT DAILY. - 23159
About the Author:
Doc Schmyz has invested all over the US and Canada. He built a free free website shares Real estate investing information for all over the US. Find Real estate investing information by state
posted by X - Men @ 3:19 AM
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