Two Solid Tips For The Experienced Pre-Foreclosure Investor

The First Investing Tip

I hate to be the bearer of bad news, BUT… there is no easy way to build lasting wealth.  No magic potion or lottery ticket waiting for you when it comes to all this pre-foreclosure investing stuff.

It’s totally up to you and me to scratch and claw our way up the mountain.  It’s full-out 100% or nothing.

It’s a simple life, but a hard life.  It just gets complicated when we try and make it easy.  There, I said it.

Learning how to invest in pre-foreclosures is hard work, but the sacrifice is well worth it.

Effective Entrepreneurs And Investors Get There Earlier And Stay Later

If you’re just getting started as an investor, you don’t have much leverage at your disposal.  You don’t have a portfolio of income producing properties throwing off solid amounts of cash flow into your pocket just yet.  You also may not have developed the key relationships you need to build a solid team around you.

Don’t let this keep you from getting started.  Most of us have come before you and faced the same set of conditions you are now coming up against.  If you don’t have the leverage you need in your pre-foreclosure business, you will have to do some of the heavy lifting.  In order to build a real estate investing business that is sustainable, you will have to make some pretty big commitments.

Get up earlier than your competition, beat him to the spot and work well past him into the night.  The reward far outweighs any personal sacrifice you may have to make in the short term.  There, I said it again.

Properties that can be passed on to your heirs will take time to build.  With so many late night infomercials promising you millions of dollars in the next 30 day just by pressing a little magic button, it’s easy to see why 95% of real estate investors go broke every year.

The Second Tip

It took me a while learn this lesson, but once I did, it made buying new property very easy.  What throws off most investors is the real estate mantra, “location, location, location.” We’ve all heard this before and will continue to hear it in the future.

Although location is a factor when investing in real estate, there is one factor that trumps all others.  It’s, motivation, motivation, motivation.  Is the seller in a situation that forces him or her to HAVE TO SELL the property?

Look For Problems To Solve, Not Properties To Buy

Effective pre-foreclosure investors look for people who have compelling reasons to sell.  Remember, you’re there to help them solve their problem.  Don’t ever forget this.

Help them out of their situation first, then you get to buy the property second.  Most real estate investors get the order mixed up.