3 Tools ALL Real Estate Investors Need
One of the most common bits of information the Real estate investors always ask each other is "What tricks of the trade or inside tidbits can you share with me??" I always answer this question with a question..."What tools do you have in your investment 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)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.
2)Your on-line tool box: Most investors use the web daily. Its a great information source, but most investors also have tunnel vision when they are on the web. we get stuck using a few websites that we think are the best at that will cover all our needs. WRONG answer. This causes a type of blindness I call "INFO INPUT SHUT DOWN".
Ok so how do you avoid Info input shut down? You have to open your tool box up to get some fresh tools.
All you do is create an another email and use it to collect eamil updates from various websites. these are going to be websits that will add you to an emailing list and send you any updates/newsletters they send out.
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) Physical tools. tools we would use in the field. this can be anything from a lap top to a great flashlight for crawling under a house. (I know a ton of investors who get "EYES ON" when it comes to real estate. One of them keeps a jumpsuit in his trunk just incase he needs to dive under a house to check the foundation...by the way...the man is a millionaire several times over and is a very young 64 years old.) These are the tools we need when we need them..I am a huge fan of "dont fail me tools". Flash lights, a good go by list, circut tester, actualy mortgage calculator...etc.
Thats about it. so go build your toolbox. pdate it often. Use it daily...and happy investing. - 23200
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.
2)Your on-line tool box: Most investors use the web daily. Its a great information source, but most investors also have tunnel vision when they are on the web. we get stuck using a few websites that we think are the best at that will cover all our needs. WRONG answer. This causes a type of blindness I call "INFO INPUT SHUT DOWN".
Ok so how do you avoid Info input shut down? You have to open your tool box up to get some fresh tools.
All you do is create an another email and use it to collect eamil updates from various websites. these are going to be websits that will add you to an emailing list and send you any updates/newsletters they send out.
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) Physical tools. tools we would use in the field. this can be anything from a lap top to a great flashlight for crawling under a house. (I know a ton of investors who get "EYES ON" when it comes to real estate. One of them keeps a jumpsuit in his trunk just incase he needs to dive under a house to check the foundation...by the way...the man is a millionaire several times over and is a very young 64 years old.) These are the tools we need when we need them..I am a huge fan of "dont fail me tools". Flash lights, a good go by list, circut tester, actualy mortgage calculator...etc.
Thats about it. so go build your toolbox. pdate it often. Use it daily...and happy investing. - 23200
About the Author:
Doc Schmyz has worked with investors all over the US. 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 @ 3:11 AM
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home