Most people aren’t trained to look for opportunity. They are taught to do things a certain way and follow that “formula.” Many years ago, I used to spend so much time building spreadsheets to analyze properties that would give me the ultimate information that I thought I needed. The problem is those spreadsheets didn’t make me a dime to feed my family. I have found that people who love building spreadsheets are wasting time doing what they like to do instead of looking for deals that have a chance to make money to pay their bills. If you spend time doing everything except what you need to do, you’ll never be a successful real estate investor.
Rather than studying trends, you need to be learning how to look for deals. All the trends and charts may be good information, but they aren’t going to put any more money in your pocket.
From my experience, I have learned multiple ways to give offers because you will never get every offer accepted. You have to listen to what people want and give them what they want or you’ll never get them to accept the offer.
Going out of your comfort zone will make you money. Strive for 20 to 30 offers a month. I teach my students that they should do their best to buy the property. But if you can’t work it out to buy the property, then try to get them to agree to a lease option where you have a right to buy the property sometime in the future. If that isn’t possible, ask about a sublease. Don’t just give up and walk away.
Once you learn how to creatively find and invest in real estate, you’ll be so much more successful in your career and in life. For more tips and information, visit www.larryharbolt.com.
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