How to Invest in Real Estate Series: 85 Actionable Steps to Becoming a Real Estate Investor

Crash course on Real Estate Investing - 85 actionable steps to take now to be a much better real estate investor

Crash course on Real Estate Investing – 85 actionable steps to take now to be a much better real estate investor and feeling like a pro


How to Invest in Real Estate Series:

Real estate investing is a great path to achieving your first million+ dollars – if you do it right.  Here is a crash course on becoming a pro real estate investor.

Real estate investing is a great path to achieving your first million+ dollars – if you do it right.  Here is a crash course on becoming a pro real estate investor.

My husband and I use to believe that we could do it all.  We managed a full-time career and moonlighted as property managers, handymen, and cleaners to maximize cash flow on our rental properties because we were frugal.  We traded time to save more money.  After spending years of endless weekends and weeknights fixing houses and breathing in construction dust, we decided to throw in the towel and outsource everything.  We made drastic adjustments in our real estate portfolio to meet our lifestyle rather than the other way around.

After nine years of investing in real estate, I’ve condensed my mistakes into four main themes.  I suspect that almost all real estate investors have gone through at least one, if not all of these mistakes, but I hope that I save you some pain by sharing 85 tips to becoming a much better real estate investor.

If you’re not making mistakes, then you’re not doing anything. I’m positive that a doer makes mistakes. – John Wooden

1) Insanely Unfulfilling Real Estate Investment Plan:

My old real estate investing plan was to buy 25 properties and consolidate it to 10 to earn 10,000 per month.  I thought it was doable.  I wasted years obsessing over the ‘next’ property and thought that having more properties was what I really wanted – in reality, that’s what the investment gurus preached and I was just an obedient student.   I also realized there is no way I can do this alone nor did I have a BIG picture financing plan.  And more importantly, I realized that this plan doesn’t align with my life goals of having more time to do the stuff I really want to do!  Learn to do a reality check once in awhile – check whether you are running with your plan or letting a plan run you.

What you can do differently to launch an amazing plan and live a happy life:

  1. Define your values and life goals  and vision to figure out your motivation for investing in real estate.

  2. Build a vision board (this is a visual way of figuring out what you want in life.

  3. Figure out your “Why”

  4. Commit to your why and take action.

  5. Sort out your finances and eliminate your bad debt one account at a time.

  6. Find investment capital – common sources for a down payment include savings, equity from your principle residence or ‘other people’s money’.

  7. Draft out your real estate business plan to keep you focused and aligned with your values/priorities and vision.  Be honest with where you are financially now and where you want to be.  Fail to Plan and Plan to fail.

  8. Do a frequent check in (twice a year minimum) on your business plan and be honest with yourself.  Tweak it where needed for adjustments.

  9. Talk to mortgage broker that is ideally an investor to ensure that they speak the same