I use to think that having a plan was the best way to start a real estate portfolio. What I learned from working with clients is that without some basic knowledge it is very difficult to put together a roadmap at first.
So before you start looking at properties, negotiating, financing or buying take some time to prepare & educate yourself.
One of the first teachings I cover is the “Language of Investment Real Estate”. I cover this because there are words that are only used in this business that if you hear them and don’t know their meaning you could miss an opportunity or feel lost.
I know when I started buying properties what was foreign to me was all of the different ways to creatively structure the purchase of a piece of property. I didn’t under the meaning of creative financing, owner financing, lease options, interest only loans, balloon loans,…..not knowing the meaning of these words and how to apply them cost me money & opportunities.
Then there was the flood of words that came up before closing – title work, title insurance, amortization, survey, abstract, approval letter, certificate of occupancy,……which caused confusion & overwhelm.
Taking time to understand these words and their meaning will put you at ease and give you basic knowledge. This knowledge will allow you to create opportunities that will minimize you output of cash and time.
By clicking this link you will have access to the module with many of the words and their meaning that will empower you to then move onto the next step that will be about building your team.
Conscious, Responsible and Profitable Real Estate Investing