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Not the year! As you are starting developing your REI business, you are likely to change many things along the way. You may change your strategies to market or the target market to find the best strategy for you. Therefore, do yourself and favor... Do not fix your goals for the entire year! I have observed that people eat into more pieces than they chew. Begin slowly. Just set your objectives for this next quarter. Therefore, you can make adjustments as the year progresses and not be overwhelmed by numerous things to accomplish. Simply take the task at a... one quarter... at one time.
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Tips for beginners as Real Estate Investors 1. PLAN BY THE Quarter... Not the year! As you are starting developing your REI business, you are likely to change many things along the way. You may change your strategies to market or the target market to find the best strategy for you. Therefore, do yourself and favor... Do not fix your goals for the entire year! I have observed that people eat into more pieces than they chew. Begin slowly. Just set your objectives for this next quarter. Therefore, you can make adjustments as the year progresses and not be overwhelmed by numerous things to accomplish. Simply take the task at a... one quarter... at one time. This can help to divide tasks and avoid those ugly phenomena known as overload or analysis paralysis that can stop us in our tracks. I firmly believe that planning your goals for the quarter will set you up for success! 2. BREAK IT DOWNto the smallest of tasks: Many newbies will tell you: "I want to flip 3 houses this year and buy one rental!" That is great but your goal setting does not end there. It is important to determine where you would like to locate the houses you want and how you'll locate them. For instance, suppose you're planning to utilize direct mail to get bargains off the market. Therefore, you must begin by:
I have X dollars to spend a week toward direct mail marketing This will result in me receiving an amount of letters I'm going to concentrate these letters on X location and on X mailing list Every day at __________ (fill with your day during the week) I'm planning to send X letters. Track your results throughout the course of the quarter. Then, you can make adjustments to the next quarter. When you are planning your quarterly goals, as a novice the first quarter may simply be spent learning. Understanding your market, learning how to evaluate deals, and getting your marketing equipment in place. The second trimester of the year may be when you begin making deals. This is OK!! Don't RUSH IT!!! You need to establish the right base for your business, so that when your marketing tools are functioning, they will continue to run. 3. WRITE THAT SH** DOWN!OR... Keep it on your IPhone or any other app that keeps you on track. If you know what things you must complete for the current quarter, note the tasks down and then stick to the list. Utilize a tool that reminds you about your responsibilities, such as an app for your phone or a calendar on your wall. I am definitely the kind of person who must have something staring at me to be able to complete it. I have massive pieces of paper hung on the walls of my office, which have the quarterly targets written on them, and I have a massive wall calendar that I use to record all my marketing activities on it in the color green (green because it is marketing that creates money as real property investors). I was in a coffee shop along with one of my students the day before. He was the day who was "stuck" and had fallen from his routine of marketing and his deal flow had dried down. He informed me that he needed to set reminders on his iPhone. He is not able to make use of the wall calendar. This is fantastic! He is aware of what works best for HIM! Do not use something because it's good for another. I get laughed at often since they think I'm "old school", a pen and paper gal, but that's exactly my style that works for me. It's what makes me complete
the tasks in marketing that I have to accomplish each day to ensure that my business is running. Noting down your work or recording them in an app as well as scheduling your goals for the quarter. Four weeks before the end of the quarter, have an entire day free from your normal day routine, and make a plan for your next quarter's goals. Take a trip to a coffee shop. Visit the hotel. Take a day excursion. Take a break so you are not distracted and consider what worked and what didn't work in the last quarter. Also, think about what you'll need to focus on in the coming quarter. 4. SURROUND YOURSELFWITH people who keep you excited! Getting into real Investment in Real Estate and maintaining the business isn't an easy task. It's a lot of work. Your family members will likely be skeptical and your friends might be wondering if the effort you put in is worth it. You’ll be frustrated and wish to quit. You will have to fight. Any person who claims otherwise is just fake news. You'll need people to keep you going and motivated. My students discuss their struggles and encourage one another each day in our group on Facebook. Join free groups on Facebook, such as the coffee Talk and Lazy Girls REI groups. You can join nearby REI groups by searching for them on meetup.com. They are a great way to network with fellow Flippers as well as landlords. Be open about your struggles and goals with them so that you are able to receive support and stay inspired, motivated and committed to your objectives! Vairt is a Crowdfunding Platform for Investing, tokenizing and liquidating real estate assets through Blockchain. Once you are ready to make an investment, you can make an investment in less than 2 minutes. Sit back and relax as your property gets funded. Vairt analyzes Property Investment Opportunities using a 100-point proprietary screening tool and independent third-party market data to assess the investment attractiveness of each property. We give you the Opportunity to Invest in Real Estate for as little as $5000. All properties on our platform are listed for 30 days to give investors ample time to raise funds.