Many people have become wealthy – or even just substantially increased their financial portfolio – through real estate investing. And – many people have tried it with mediocre results, or very little profit, or even losses. What’s the difference? Work Ethic – Diligence – Follow-up It takes time and effort to make it in real estate investing. Those that have done extraordinarily well have worked harder than an outside observer can possibly realize. Connections Contractors, sales professionals, often lenders and other investors, even investment partners – connections are important! Much time is saved and risk avoided by working with the right associates at the right time. An early priority is developing your list of professionals and other investors crucial to your success. Goals Know your goals for your life – financial and lifestyle – as well as your specific real estate investing goals. Big wins on rehab projects? Ongoing income from rentals? Your personal goals are your best guide to choosing the strategies that are right for you. Positive Thinking Not only must you have a clear plan and the confidence to follow it, you also need to see the many positives in what you do. You can bail struggling homeowners out of a problem property they can’t resolve themselves; you can improve properties and so improve the neighborhood and the community; you can help deserving individuals and families into a home. Notice some things that aren’t on the above list of essentials for real estate investing: money; contracting knowledge or experience; money; a real estate license; and money. Having any of those non-essential things certainly helps. But successful real estate investors work with professional specialists in these fields because too often a DIY just won’t pass a home inspection or find a buyer in timely fashion. You may be wondering: How on earth can someone invest in real estate without money? Among the things you’ll learn on Brazos Valley Source (this forum) is how to make money with minimal starting resources, as well as how to minimize the risks. So why is real estate investing worth the time, hard work and commitment? Establish a substantial asset base and income stream Save it for retirement or enjoy it now! Send your kids to the college of their highest aspirations. Live where you like in the house of your dreams, enjoying the lifestyle you choose. Take the best care of aging parents. Be prepared to weather any financial storm. Pay Off Your Debts Stop paying a small fortune in interest into the system! Continue earning while you pursue other passions and/or take time off work Build a real estate portfolio that produces cash continuously whether you are actively working or not. Spend less time working and more time on your kids’ activities, enjoying your hobbies and sports, traveling. Provide your spouse with the chance to pursue a personal passion! Lifestyle doesn’t just mean “things”, it means something far more important – how and where you spend your time! And contribute to your community Did you know that communities in trouble have been inviting investors to turn around a decrepit housing and building base for hundreds of years? Investors resurrect properties that are unsafe and un-livable. They improve the look and appeal of neighborhoods, and attract homeowners and businesses that are stable, tax-paying citizens. Real estate investing requires hard work, resilience and commitment. It isn’t everyone’s cup of tea! But real estate investing can pay off handsomely for people who are ready to make connections and pursue intelligent, positive strategies! Have you begun connecting with people in the real estate investing field in the Brazos Valley? Where and how have you made your connections? Connect with other local real estate investors through the Brazos Real Estate Investor's Club (click here). (Brazos Valley Source is not a part of BRIC, but recommends the club and works cooperatively with BRIC.) Scroll down to the box “Write Your Reply”, type your answer and then click “Post Reply” to the lower right.