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I talk to many investors who started in Real Estate with the goal of buying and selling houses, but they ended up being landlords – and they hated it. I personally love rental houses and own a lot of them, but these sad stories led me nevertheless to focus on finding buyers.
I had this same experience: I had to get a loan to buy a house I put under contract but could not sell right away.
Fortunately, I had a mentor who told me to forget everything I have learned about real estate and who taught me a new way of investing – finding out what investors wanted and not what I thought they should have.
If you do real estate investing full time, not as a hobby that you get in and do on the side, it is a serious job. Yes, you can flip houses and make a bunch of money like you see on TV, but the TV shows, in my opinion, are dramatized crap that does more harm than good. They make people think they can go out and get a junker property, put a bunch of money in it, and sell it really fast and make a killing.
Well, lets get real. In the real world you will quickly find out that most of the time it does not work like that. You have to really know what is going to sell before you make a big decision to put time and money in the deal.
The only way to do that is to find the buyers and ask them what they want. It is a very easy process if you know how to set up a system that does it automatically. Learn the secret that most the gurus don’t tell you and that is how to find out what will sell before you buy.
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