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Real Estate Investing 101: The Lingo
By
Marlene Martinez
For those of you who are experienced investors please indulge
me; You might just learn something new. And if you have something to add please
let me know.
Real Estate Investing Is A Business!
Most of you have read one or more books or attended a seminar, it can be very
overwhelming for newsiest, so I hope I can set you at ease and motivate you to
make your first deal.
The Sacramento Valley Real
Estate Investor's Club was founded to basically take you by the hand to
help you make a good deal .
If you haven’t read it already, I encourage you to read Rich Dad Poor Dad
then Cash Flow Quadrant.
This book helps you understand
what side of the quadrant you are in, and why you must be of a certain mind set
in order to be successful in Creative Real Estate Investing.
Notice I didn’t say
Real Estate Investing? That is because anyone with money can buy some property and rent
it out or sell it for a profit.
Now for the lingo you must learn to close on good deals. I call them the
Ps to success:
- P # 1 – Plan - Not having a plan is like driving around without a map. Only you
can make up your game plan.
- P # 2 – Pray over your plan - Ask God to bless it or change it according to his
will for your life.
- P # 3 - Pay - You will pay to learn about Real Estate Investing, but that in itself
does not guarantee success.
- P # - 3- Patience – Is a must especially in the beginning of your learning
better to study and learn one thing then go out and see if it works for you. Its like a painter who takes many art courses to learn how to paint, and
he even has a vision of the painting he wants to paint, but he never puts his brush to
the canvas so no one can call him a failure. There is a saying of a person who is
always learning but never comes to knowledge of the truth.
- P # 4 – Priorities – Now these are my own.; Yours might be different.
First is God
then Family then my business. I have found that if you don’t have any priorities
you have no balance in your life.
- P # 5 – Persistence - Once you set a goal keep going until you reach it. Then
move on to the next one. Financial independence is something we are all shooting
for but if we don’t have some perks along the way we will probably quit just as
we are about to reach it.
- P # 6 - People – You are in the people business and so that means you must
interact with them through relationships. If you can’t stand them, you better
consider another endeavor.
- P # 7 – Problems - You are a problem solver and people have them. Some big, some
small, and they look to You to solve them. You should be a compassionate listener
but always in control of your emotions.
- P # 8 – Play – Take a break go have some fun with family and friends.
- P # 9 – Property – I know all the books say get your team together before you
get started, but I don’t agree. I do agree with having a team, but only as you
need them.
Being at this investment club and networking with people will help you meet those
who can help you or know someone who can. You must learn to see property in a
new way while putting blinders on your emotions.
There are two kinds of property: personal and real. You probably have both.
If you
have bought a house, that’s real. If you bought a car or diamond ring, they are
personal property, and each one does depreciate. But real property does both!
if
you checked the market you know how much real property has appreciated in the
last year.
- P # 10 – Partners: You cannot go it alone in this business, you need others. You
need your spouse’s support and input. You need mentors to hold your hand so to speak those who can help you not make
the same mistakes they have. You will make mistakes, but if you listen to them
those mistakes will not be lethal. Partners can be a curse or a blessing chose
them wisely look beyond the deal and see their heart.
- P # 11- Profit – Is not just monetary. If that’s all you want then you are
missing out on so much more. I have two businesses, and if I just looked at the
bottom line I could say, "I broke even this past year." But in fact, I really made a big
profit because I met new people and they gave me ideas to help my businesses grow.
I am
in business to serve others and I love what I do. Money can be a hard taskmaster,
and you cannot serve two masters and be happy. Contrary to popular belief, money is not the
root of evil; the love of money is evil. Money can do so much good if used properly,
and so as an investor don’t be greedy; Share your profits with those who have
helped you.
If you follow the P/S then you will find success in all you do in life and
investing.
Marlene Martinez is a successful Creative Real Estate
Investor with hundreds of deals under her belt. She is also the founder of the
Sacramento Valley Real Estate Investment Club;
a club dedicated to helping people become successful in real estate investing in
the greater Sacramento region. You can become a member or reach Marlene by
Clicking Here.
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