3 Tools ALL Real Estate Investors Need
"Doc what advice can you give me that will help me with investing. What tricks of the trade or inside tidbits can you share with me?? " My response is normally..."What is in your tool box?" Let me explain what this question means exactly
Ok let me define the "tool box" for you and explain the three parts that make it up.
1) Mental tools: This is the part of the tool box most of us use the most. It is all about how we think about investing. Are you a outside the box type of thinker?? Or do you follow a set program to help guide you in your investment choices? It is how your brain reacts to the idea of a new investment...the mental aspects that make up the checklist in your head.
It is the results of the information you have taken in about investing.
THINK ABOUT THIS: Every book store has some vast collection of books on real estate investing. You should take the time to add them to your reference library at home. Why? Because if some guru writes a book on RE investing that sits on the national booksellers ten best for 35 weeks...what do you think the chances are some one you will deal with has read that book? If you know what factors some one uses to make a decision...you have a better chance of influencing WHAT THEY DECIDE.
2)Your on-line tool box: Most investors use the web daily. Its a great information source, but most investors also have tunnel vision when they are on the web. we get stuck using a few websites that we think are the best at that will cover all our needs. WRONG answer. This causes a type of blindness I call "INFO INPUT SHUT DOWN".
Ok so how do you avoid Info input shut down? You have to open your tool box up to get some fresh tools.
All you do is create an another email and use it to collect eamil updates from various websites. these are going to be websits that will add you to an emailing list and send you any updates/newsletters they send out.
Once your on a email list I suggest allowing a few weeks before opting out of it. Just because it doesnt give you the "diamond in the rough" on the first email doesnt mean the newletter your getting is worthless. Newletters to look can originate from RE investment clubs, Blogs, News sites...etc
To me most pop up ad based newsletters are a waste of time. I prefer to find the newsletters that are written by people who ACTUALLY invest. I prefer to get reviews of SEVERAL porducts/methods or tools that some one else actually uses. Those to me are the gems that I try to subscribe too.
My favorite online tools/sites are the ones that cost me very little to use/buy or better yet are free to me. I love to find good resource sites. ( I admit freely I normally link them to my own) A good web tool is a great thing to find. Im not refering to another mortgage calculator...I mena that online tool your just dying to try out. When you find them...bookmark them.
3) And last but not least... actual physical, hold in your hand, tools. It can be a great "go by list". A solid flash light. anything that makes the time in the field looking at investments easier.
So there it is..the outline to your toolbox. Build one...update it often..and USE IT DAILY. - 23222
Ok let me define the "tool box" for you and explain the three parts that make it up.
1) Mental tools: This is the part of the tool box most of us use the most. It is all about how we think about investing. Are you a outside the box type of thinker?? Or do you follow a set program to help guide you in your investment choices? It is how your brain reacts to the idea of a new investment...the mental aspects that make up the checklist in your head.
It is the results of the information you have taken in about investing.
THINK ABOUT THIS: Every book store has some vast collection of books on real estate investing. You should take the time to add them to your reference library at home. Why? Because if some guru writes a book on RE investing that sits on the national booksellers ten best for 35 weeks...what do you think the chances are some one you will deal with has read that book? If you know what factors some one uses to make a decision...you have a better chance of influencing WHAT THEY DECIDE.
2)Your on-line tool box: Most investors use the web daily. Its a great information source, but most investors also have tunnel vision when they are on the web. we get stuck using a few websites that we think are the best at that will cover all our needs. WRONG answer. This causes a type of blindness I call "INFO INPUT SHUT DOWN".
Ok so how do you avoid Info input shut down? You have to open your tool box up to get some fresh tools.
All you do is create an another email and use it to collect eamil updates from various websites. these are going to be websits that will add you to an emailing list and send you any updates/newsletters they send out.
Once your on a email list I suggest allowing a few weeks before opting out of it. Just because it doesnt give you the "diamond in the rough" on the first email doesnt mean the newletter your getting is worthless. Newletters to look can originate from RE investment clubs, Blogs, News sites...etc
To me most pop up ad based newsletters are a waste of time. I prefer to find the newsletters that are written by people who ACTUALLY invest. I prefer to get reviews of SEVERAL porducts/methods or tools that some one else actually uses. Those to me are the gems that I try to subscribe too.
My favorite online tools/sites are the ones that cost me very little to use/buy or better yet are free to me. I love to find good resource sites. ( I admit freely I normally link them to my own) A good web tool is a great thing to find. Im not refering to another mortgage calculator...I mena that online tool your just dying to try out. When you find them...bookmark them.
3) And last but not least... actual physical, hold in your hand, tools. It can be a great "go by list". A solid flash light. anything that makes the time in the field looking at investments easier.
So there it is..the outline to your toolbox. Build one...update it often..and USE IT DAILY. - 23222
About the Author:
Doc Schmyz has done real estate deals all over the US. He built a free website shares Real estate investing information for all over the US. Find Real estate investing information by state
posted by X - Men @ 3:20 AM
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