I'll start it off, my biggest fear was making a mistake when I started.  These thoughts would run through my head.  What if I pay too much for a property?  What if I'm unable to find a buyer for the property?  Did I estimate the proper amount of repairs?  What are some of the hidden costs?  The way I over came them was to take massive action!! 

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The way I overcame the challenge...What if I pay too much for a property...was to go back and validate ALL the numbers I was using to make the decision...where my tenants would work...what the average income was for that tenant profile...make sure that my rents were one quarter of that income or less for a value add...and validate all the expenses I was considering. Once I proved the numbers, I knew that I was paying the right price for the property. I coach others in real estate purchases and this method has proved quite useful in getting started and keeping income steady...Thanks, Cj cindyjensen@cox.net
Very well said Joe, my greatest fear back then was to failed on every move I have to take, (I think it's just a natural feeling for a starter like me), what if I invest in the wrong property? There are so many "What if's? and Did I?" on my head those days. In the end, I faced all these doubts and trust myself and be more optimistic. Asking for a real estate mentor is also a great help.
The process really can be so over whelming that it ends up being scary, frustrating and at the end hopefully a successful investment! The rush and unknown is what makes us crave more and go back again and again. Having someone that you're able to rely on for advice makes all the difference when dealing with even a small amount of money being invested.


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Certified public accounting and business management consulting firm with offices in Michigan, Ohio, Illinois, and Shanghai, China.
I am sure most newbies would feel the same but will confident after doing some deals themselves. For me, that would be the ever-changing market, most especially right now. We never know what will happen next and how bad it will affect our industry. But then again, I believe that's what makes real estate an exciting industry too.

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The Future of Real Estate Investing | Making Hard Money Easy
Lilly,

The ever changing market is an issue with all investors including seasoned investors. All you can do is your homework on every property you make an offer on. Make sure you have a primary and secondary exit strategy, then execute the deal. Take MASSIVE ACTION and you will start closing deals. It's really that simple, don't complicate things, you don't have to know everything before you make offers. Some things you'll only learn through experience. Step out in Faith and conquer your fears, make lots of offers. Hope this helps......

Joe Dube
www.REIWired.com


Lilly Gilmore said:
I am sure most newbies would feel the same but will confident after doing some deals themselves. For me, that would be the ever-changing market, most especially right now. We never know what will happen next and how bad it will affect our industry. But then again, I believe that's what makes real estate an exciting industry too.

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The Future of Real Estate Investing | Making Hard Money Easy
Thank you, Joe. But please enlighten me. What exactly do you mean by "Take MASSIVE ACTION"?


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The Future of Real Estate Investing | Making Hard Money Easy
Lilly,

What I mean about MASSIVE ACTION is to create leads by mailing 5,000 direct mail pieces for a month instead of 1,000. Make 30 offers a week instead of 10. You see what I mean? If you do all parts of the business in mass quantity you have a better chance of getting several deals into your system each month. Hope this helps...
When it’s time to sell, you must be confident that every element of negotiating the best terms and the highest price has been set before your home is even listed.
http://fixerjay.com
http://fixerjay.com/



http://fixerjay.com
http://fixerjay.com/
Mark,

Do you list your homes to sell with an agent or do you sell them yourself? Have you ever tried a round robin auction? Let me know I'm interested in how you execute your exit strategy.

Joe Dube
www.REIWired.com

mark slosar said:
When it’s time to sell, you must be confident that every element of negotiating the best terms and the highest price has been set before your home is even listed.
http://fixerjay.com http://fixerjay.com/


http://fixerjay.com
http://fixerjay.com/
Oh so that was literally a big number. Thank you, Joe. And in so many ways, I agree with you. Thought I'd share this quote that is somewhat related to what you were saying.

“Why should you be content with so little? Why shouldn't you reach out for something big?” _Charles L. Allen

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The Future of Real Estate Investing | Making Hard Money Easy

Joe Dube said:
Lilly,

What I mean about MASSIVE ACTION is to create leads by mailing 5,000 direct mail pieces for a month instead of 1,000. Make 30 offers a week instead of 10. You see what I mean? If you do all parts of the business in mass quantity you have a better chance of getting several deals into your system each month. Hope this helps...
Good quote Lilly, very true.

Joe Dube
www.REIWired.com
Real estate agents are the eyes and ears of the real estate business. Ninety-six percent of all sales and trades involve licensed sales per­sons and their brokers. It would be very foolish indeed to harbor any serious notions about excluding them from your investment plans. The best thing you can do for yourself is to diligently begin searching for a good one.

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