3 Tools ALL Real Estate Investors Need
"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?? " My response is normally..."What is in your tool box?" Let me explain what this question means exactly
Now before you go nuts scratching your head, let me define the areas of the tool box. The tool box has three areas.
1)In your head tool box: This is all about how your thinking process works when it comes to investing, and more importantly how open minded you are about investing information. Are you willing to think outside the box in order to look at investment opportunities or must the investment fall within a cookie cutter method you having? In your head means you need to read books, articles, partake in discussions, and basically interact with that big grey hunk of goo that is in your skull.
It is about gathering all the info you can in order to be able to think about investing and where it can lead you.
IMPORTANT ELEMENT. While we all know that a zillion books have been written about investing. It is important to understand that you MUST have some knowledge from that book...WHY? Because if you understand what other investors are reading?it actually makes it easier to work with them since you understand where they are getting their basic tactics and understanding from, that helps steer them to the investments THEY are making.
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.
Simply put you create an email address and when you come across a site you think may be a useful reference you join up for the newsletter they email out. They send it to your "Info email account" and you can go thru the emails as you choose. I must warn you however.
Now dont be to hasty and unsubscribe after the first email. More often then hot the newsletter/updates dont deliver the "meaty info" in the begining...more often then not it comes as a series of newsletters. Look for Investment clubs that offer news letters as well as blog sites, news sites, etc. Any reference sits you can find I recommend bookmarking.
I avoid most of the "pop up" mailing lists for the simple fact that if the info they offer is any good?someone else is going to share it and it will cause enough of a buzz that you will hear about it. If that the case then go ahead and join it.
Other online Tool box sites are certain "E tools". These go way beyond having a mortgage calculator online. We are talking about tools that you are almost chomping at the bit to try. (I have to admit I have a few of these in my Tool box?I use them every day) When you find these tools you will just know it, find them and 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.
Thats about it. so go build your toolbox. pdate it often. Use it daily...and happy investing. - 23223
Now before you go nuts scratching your head, let me define the areas of the tool box. The tool box has three areas.
1)In your head tool box: This is all about how your thinking process works when it comes to investing, and more importantly how open minded you are about investing information. Are you willing to think outside the box in order to look at investment opportunities or must the investment fall within a cookie cutter method you having? In your head means you need to read books, articles, partake in discussions, and basically interact with that big grey hunk of goo that is in your skull.
It is about gathering all the info you can in order to be able to think about investing and where it can lead you.
IMPORTANT ELEMENT. While we all know that a zillion books have been written about investing. It is important to understand that you MUST have some knowledge from that book...WHY? Because if you understand what other investors are reading?it actually makes it easier to work with them since you understand where they are getting their basic tactics and understanding from, that helps steer them to the investments THEY are making.
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.
Simply put you create an email address and when you come across a site you think may be a useful reference you join up for the newsletter they email out. They send it to your "Info email account" and you can go thru the emails as you choose. I must warn you however.
Now dont be to hasty and unsubscribe after the first email. More often then hot the newsletter/updates dont deliver the "meaty info" in the begining...more often then not it comes as a series of newsletters. Look for Investment clubs that offer news letters as well as blog sites, news sites, etc. Any reference sits you can find I recommend bookmarking.
I avoid most of the "pop up" mailing lists for the simple fact that if the info they offer is any good?someone else is going to share it and it will cause enough of a buzz that you will hear about it. If that the case then go ahead and join it.
Other online Tool box sites are certain "E tools". These go way beyond having a mortgage calculator online. We are talking about tools that you are almost chomping at the bit to try. (I have to admit I have a few of these in my Tool box?I use them every day) When you find these tools you will just know it, find them and 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.
Thats about it. so go build your toolbox. pdate it often. Use it daily...and happy investing. - 23223
About the Author:
Doc Schmyz has done real estate deals all over the US and Canada. His website shares Real estate investing information for all over the US. Find Real estate investing information by state
posted by X - Men @ 3:22 AM
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