Must I Begin building my REI Business in a Recession?
Recession! Financial Collapse! Market Downturn! Expressions like the foregoing seem to encourage a host of negative emotions..ones that govern the thinking of most people today. Regardless, the fact remains that real estate investment is still the logical choice for achieving financial independence.
Around 100 years ago Carnegie said to “get aggressive when everyone is fearful, and be fearful when everyone is aggressive?” Recently Warren Buffet quoted the same adage. If these famous men agree to that strategy, then let’s get busy!
Earlier this year I was in San Francisco and saw a billboard. It read: “Bill Gates stared Microsoft during a recession.” Are we seeing a trend here? It would seem that the most successful see opportunity where others see peril. Are you programmed like these entrepreneurs or are you like the majority of the world’s population.motivated by emotion? If you feel you are in your element with these great history-making men, then you likely see that we are at the right place to create wealth in this housing value decline.
Specifically, I believe we are facing the perfect storm for cash home buyers across the United States. The secret is already out overseas. Many Europeans, Asians, Middle-Easterners and others have recognized that America is on sale and they are already scooping deals on our home turf every day! So, is this the time to start your real estate investing business? Yes. Only IF you see the “glass half full!”
Before embarking on any business venture it is always wise to research the market, set a mission statement and plan of action. Search out the best business allies for your network. Primarily, though, do some soul-searching in order to determine whether you are proceeding with the mindset of a true wealth-builder or plagued with the typical negativity of the general public. Make sure you understand the opportunity and determine to KEEP that vision clearly in mind. Maybe even write it down and hang it on your refrigerator door, but..do it!
A word of caution: Every new real estate investor should belong to reputable groups and networks in order to find and close deals profitably, moving quickly onto the next. Here is a website you can check out (www.invesdoor.com) for an example of a reputable group. They manage an extensive buyers list from all over the world and independent territory managers nationwide. They even provide REI professionals with discount deals regularly.
Another factor that has played into the success of most if not all wealthy capitalists is having a mentor. There has usually been someone behind the scene coaching and leading by example. Ask anyone who has done something of high significance and they will likely tell you of those who inspired them. The REI market is no exception. We all need a mentor at some point.
Sadly, there is no end to the “gurus” wishing to sell us some “program” for a huge price tag. In fact, their responsibility ended when your payment was processed. In my opinion, it is best to find a mentor who is willing to teach you and then partner up with you for a time, splitting the profits off each deal. That’s what your business will need especially as we enter the uncertain market conditions just ahead. So keep your chin up! Do some soul-searching and adjust your thinking to “positive.” Hear it? That’s opportunity knocking..
To get additional insight about Real Estate Investing Mentors make sure you visit – Invesdoor – Phone 888 380 Invest (4683)- your home to Real Estate Investment Opportunities coaching for both the novice and seasoned investors.