I know of some people who have become totally caught up in the euphoria of newfound knowledge and just couldn’t stop buying audio programs and attending very expensive seminars and bootcamps. This seminar junkie must have spent at least $50,000 within a 12 month period and still hadn’t bought their first investment property. They were just bouncing around from one great idea to the next.
I don’t know whether, in their case, it was because they were just caught up in the excitement of that environment, whether it was their way of convincing themselves they were active when they may have been too scared to get started, or they were honestly trying to find the best strategy for them. I’m guessing it was a mix of these things.
Full article… Don't Become A Seminar Junkie: Experience Is The Best Teacher
Popularity: 5% [?]
Filed under General, Getting Started by Scott Roemermann
Education is paramount to success in any endeavor but when we are speaking of investing it is most important to consider its impact on risk.
Investing is widely regarded as a risky pursuit by amateurs and those who are uneducated in the field. To professional investors, a person’s education or knowledge of an investment is by far the single greatest determinant of risk. A well-educated investor can always walk away from a ‘risky’ deal.
A lack of knowledge sees so-called investors get into difficulty time and time again. Whether it’s the first time investor who just bought a house in a bad location that is losing money or the guy who thinks he’s smart because he has a nice paper profit after some blind luck in a stock market boom. Chances are that if they don’t know what they are doing they are headed down a bumpy road.
Full article… Education in Real Estate Investing: the best risk mitigator
Popularity: 5% [?]
Filed under General, Getting Started by Scott Roemermann
When I think back to when I got started as a real estate investor and try to put myself in those shoes again I remember the things I was looking for at the time were very much about minimizing risk.
At the time, I desperately wanted a mentor to support me (or tell me exactly which deals to do). I'm sure many, many newbies would love to have a Robert Kiyosaki as a friend so he could just tell them which deals are good and which ones to stay away from. And I'm also sure I've heard Robert tell stories of problems he's had with friends that he's tried to help in this way. But back to the issue at hand.
Why is it that so many of us want a mentor-in-a-pocket above all else when we are starting out?
Full article… Is There EVER a "Sure Thing" in Real Estate Investing?
Popularity: 6% [?]
Filed under Getting Started by Scott Roemermann
April 11, 2008
Real Estate Investing's Dirty Little Secret
The Whole Truth About Real Estate Investing
I know you probably came here looking for a bunch of secret tips and methods that the real estate experts use to make "the big money" in real estate. Well, while I can and will give you a bunch of good tips, the truth is that none of them are great secrets known only to the wealthy. I've revealed a bunch of things for you to look out for in the report "7 Traps of Real Estate Investing" but in my opinion, there is one secret that trumps all the rest and needs to be exposed.
The dirty little secret of the real estate investing world is that trainers around the country are selling their courses to people, quite comfortable in the knowledge that less than 5% of them will actually do anything with the information. In other words, 95% of people will never do a deal and will never even recover the cost of that course, let alone become a successful investor.
Full article… Real Estate Investing's Dirty Little Secret
Popularity: 12% [?]
Filed under General, Getting Started by Scott Roemermann
It's time to get real. Let's be honest for a moment and look at the results the average person is getting with the masses of real estate investing information that's available today. A frightfully low percentage of people that attend the typical real estate investing seminar or bootcamp go on to build a real estate business of any significance. Why? According to Brad Wozny, 92% of all investors fail in their first three months. Why?
Why are people having such problems with real estate investing:
- buying lots of educational products but not having the confidence to use them
- never getting that first deal done
- replacing a practical education with a theoretical one
- hopping from one hot idea to the next
- trying to operate without a business model
- complete lack of focus
- no thought given to what skills are required
- no thought given to what resources are required
That is NO WAY to start a business!! And that is another key issue here. We are talking about a business, not a hobby. And yet most people spend more time planning their annual vacation than they do planning their real estate business.
Full article… Strategic Real Estate Investing: The Missing Piece of the Puzzle?
Popularity: 8% [?]
Filed under Getting Started, Strategy by Scott Roemermann
