Real Estate investing- your BIG 3 MIND TOOLS!!

Well my real estate investing friends...one holiday down..one more to go. I hope everyone has had a good holiday season so far. I am sorry about not droping notes as often as I hoped to but life has had some other callings as of late...But anyway.

Ok. So. The BIG 3 MIND Tools.

Mind tools are just ways to look at things around you. To be honest the tools are not specific to any given subject. (However for the sake of the topic..we are going to use then for Real Estate investing.)


1) ACCEPT FAILURE!!!! This is a VERY hard one to understand...let alone commit yourself to. Now what this means is that you need to understand that YES you can loose money. Ok...thats it... I want you to accept that this indeed can happen. ( Calm down...Im not done yet) Now...once you have accepted this...you can move forward with your real estate investing.

Most of the time when we as a human being, loose something we value, we tend to remember the steps we took that cost us that loss... and when you remember how the events unfolded you tend to notice where you could have taken steps that could have prevented it. So loss is not always bad.

Ok...now do you see my point. The Best lessons in life (and investing) are always gonna cost you something.

2) Commit to "Finding a way" "But Doc...I want to invest but I dont have any money." BING BING BING BING..WRONG ANSWER!!!

Go out and find the property you want to invest in..do the homework on it...price it out...holding costs... repair value...etc. Then Look for the money. It is far easier to walk in to a room full of strangers and get money for a investment you have outlined...then walk in and just ask for a blank check.

When you want to learn something bad enough, get something bad enough...you find a way dont you??? "Find a way."

3) Dont think your the smartest person in the room

Ok this one is the most important of all three. Just because you have read every blog/book/investment website...etc. doesnt mean you are the smartest person in the room when it comes to investing. I know some top notch Real estate agents who cant find an investment to save themselves...but they can talk you into buying a million dollar house.

You need to understand upfront that investing is a TEAM sport!! I will always drill this home. To be a really prosperous investor you need a team...this is NOT A SOLO event.

Mortgage Brokers, Real Estate Agents, Inspectors...etc etc...you need a team or a way to find these people.

Use web groups to ask around. Join REI Clubs. Drop a few dolloars and join a service to use the MLS.

You will not ever know everything you need to know to make a investment flow with out a hitch however, you can talk to people with the expertise in the areas you find problems in.

Use online resources for networking. Find out who is recommended for what? Need a good plumber because you dont know anything about plumbing in a 1945 craftsman home? Find one.

As always I will list a few links at the bottom for various services...USE THEM.


Now go out and invest.


Real estate investing information resources:



Tons of information from agents to brokers to title companies from all over the country. Real Estate investing information and resources


Mortgage info / real estate loan:

local and state loan information