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The Good,
The Bad....and The Ugly of Real Estate Investing Information
With the abundance of real estate
investing information it is getting harder and harder to
separate the BS from useful information that you can use. But
there are a few simple rules you can follow to quickly sort out
the good real estate investing information.
What To Do Versus How To Do It.
Most real estate investing information
is very good at telling you what to do and giving you a false
sense of understanding. But the key is finding real estate
information that tells you how to do something from start to
finish.
What to do example: You need to mail out
of state owners to find real estate deals. While this is a true
statement you are really not much better off then when you
started.
How to do example. You will want to mail
this letter to 500 out of state owners of single family
residential homes with 1000 or more square feet. To obtain the
list of out of state owners you can go online and find a list
broker to purchase them but a better source may be your county
tax office or a local data provider like
Net Value Central. When mailing your letters use a number
10 envelope with a live first class stamp and hand written
mailing and return address. Ideally you want your letters to be
mailed on Monday so the letters arrive midweek and not on Friday
or Saturday because statistically your letter has a higher
likelihood of being read if it arrives midweek instead of on the
weekend.
So when you are looking for great real
estate investing information keep your eye on programs or
systems that focus on how to do things in detail. If you are a
beginning real estate investor I’d suggest you start with this
real estate investing system.
Action Versus Analysis.
Is analysis important? Absolutely. But a
lot of people put way too much emphasis on analysis because for
whatever reason people love to overanalyze things. When dealing
with single family homes you should be able to quickly analyze
the property and make a yes or no decision based on buying rule
you have in place.
Once the property has been analyzed the key
is taking action. As a real estate investor this means making
offers. I’m aware of many systems that impress people with
detailed analysis and are great on theory but do little to
nothing when it comes to showing you how to take action.
Look For Examples and Stories.
There is nothing worse than going through
dry real estate investing information unless you are
looking for the cure to insomnia. It is much easier to learn
and remember from examples and stories.
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