What advice would you provide an investor who is new?

1. Find a coach or mentor in your area to whom you can seek advice. Of course, when you can turn to, be sure that they're achieving what you want to do and converse with others they've assisted prior to making a an investment blue world city Islamabad of time and/or money.

Real estate investing isn't an independent business. You will require lawyers CPAs, attorneys (knowledgeable regarding real estate investments), subcontractors, contractors estate professionals, title businesses, closing lawyers, inspections appraisers, and the list goes on. Find someone who's been through the mines before you and can give you advice to save both time and cash.

Are you obligated to pay for their time? Absolutely. If they're willing to share with you the lessons they've learned through years of their own efforts and time They've spent money on their expertise in either way and the knowledge you'll get from them is something you should pay for. If they're not worth paying to follow, they're not worthy of your attention.

And don't just reach out to your only peers Reach out to people in a better position than you. Jim Rohn once said that "you are the average of the top 5 people you hang around with." If you're interested in becoming better in any aspect you can find someone who is doing way better than you.

2. Participate in the group of friends who know more than you. Go to all the meetings you are able to attend. For investors in real estate typically, this means local REIA gatherings (real estate investor association meetings that you can find via NationalREIA.com). Also, make sure to check out MeetUp.com and any local landlord associations meetings. Landlords are already conducting business and could be a great source of information and prospective buyers or sellers collaborate with.

3. Set goals. Set a goal. How many houses do you want to buy in the next twelve months? What do you expect to earn in five years? As you write out include strategies to accomplish them. Want to buy 10 houses in the next twelve months? Break that into pieces to figure out what you need to do each month in order in order to make those dreams real.

4. Find property. If you haven't began yet, begin! If you're purchasing, you should buy more. If you don't, ten years will pass and you'll feel guilty for not having bought all you could today. The best way to master is through experience. Books and seminars are great however, you'll not know how much you know and what you don't until you take the plunge and begin purchasing your own.

It's a cliche that's been used for years that "there's never been a better time to buy real estate", but it's real. I'm sure it's the case. Sure, you have to modify your strategies and strategies according to the state of the economy and where you are investing, but everybody works, shops, and lives in a place. If you don't have it then someone else will.