How To Succeed In Real Estate Investing [40 TIPS] – Part 1

How To Succeed In Real Estate Investing [40 TIPS] – Part 1


Alright so today, we’re going to be
talking about the top 40 tips of how to succeed in real estate and in this video,
we’re going to cover the first 10, watch out for the next three videos that come
after where we’re going to finish giving you the top 40 tips. Joining me today, I’ve got Steven Michael
Miller. – Hi, friends. – For those of you that have not met him before, Steven is the
behind-the-scenes man that runs the entire real estate nationwide team that
helps people learn how to do real estate, build a game plan, get traction and
succeed, so he’s an amazing business partner, excited to have him here on the show.
Tip number one, guys, we are jumping it right into profits. Now if you want to
be successful in real estate, you have to be profitable but how do you calculate
your profits? Well you’re looking for a return on investment, in other words, the
investment that you put in should give you back more than what you’re putting
in, right? It should be producing for you, if it’s not, chances are it’s not a very
good investment so you want to take that money and put it somewhere else. So
number one, very first thing, make sure before you get into any type of real
estate or any type of an investment period that it’s profitable.
– Okay, tip number two, cash flow and here’s what cash flow means, different than
almost any other investments that you’ve been exposed to, 401K’s, IRA’s payoff of
your house, put money under the mattress, all of these things share something in
common, none of them pay you which means they’re speculative, they’re not actual
investments so if you’re contributing to any of those things, that’s okay, just
know that they’re actually not real investments that are paying you right
now. For me, the definition of a real investment is something that pays me
today, and real estate can do that for you if you do it the right way, so make
sure you select a strategy where you focus on a really healthy cash flow.
*Speaks in German* Oh sorry, that was German. Tip number three, guys, what you need is to
make sure you’re avoiding taxes as much as possible. Now trust me, I’m, you know, I
know that it’s right to pay taxes, I do pay taxes, you need to pay your taxes and
we’re not tax professionals necessarily but we are telling you that investing
the right way can help ease your tax burden, help you pay the least
amount of taxes so you’ve got more money to get an invest again and again and
again. – And hands-down by the way, real estate is the best tax strategy in the
United States and so, if you’re paying too much in taxes, you do not own enough
real estate, you need to switch up that portfolio strategy a little bit. Alright,
tip number four, maintenance. All real estate comes with maintenance and one of
the shortcomings that people have in keeps them from being successful is
they’re actually not appropriately planning
for the maintenance that real estate inevitably brings on. Maintenance can
come in a form of drama from a tenant in a house, it can come in the form of a
property management company and having a better one or a worse one, it can come in
the form of an unexpected repair. So one of the things for you to become very
aware of is that for you to succeed in real estate, know that maintenance is a
whole part of winning and succeeding, plan for it. – Absolutely. Tip number five
is market cycles. Now you want to make sure that you understand what happens in
the marketplace, what causes the different fluctuations but more
important than that, you want to make sure that you’re investing in something
that is not market dependent. In other words, regardless of what’s happening in
the market cycles and the different fluctuations, your investment is going to
continue to go up over time, that’s something that we’ve been teaching for a
long time and as a matter of fact, there are many videos that we’ve done talking
directly about this specific item so make sure you take a look at those as
well but if you understand the market cycles and how to navigate those
appropriately, you know you’re gonna every time. – Okay, success tip number six,
least time that you can possibly put in strategy. You have got to factor time
into your real estate strategy. Now there are some people that think that real
estate is supposed to be a job or they say, “I’ll hear it, I want to be a
full-time investor.” I’m like, “Really?” You must really love real estate because
full-time that’s a massive time commitment. We believe that you can do
real estate the right way where you putting in minimal time and you’re
getting maximum return. Be aware that different strategies require more or
less time and I also just got to say this, if you’re an appraiser, if you’re a
loan officer or if you’re especially a realtor, you’re not an investor, I’m
challenging you to become one but just understand that being in real estate is
a job, it’s not the same as being in real estate as an investor because for me, my
personal portfolio requires less than one hour a month because I really value
what I believe to be the most important commodity in my life, time. Time is what
the most important commodity is so make sure that you select a strategy in real
estate where you can minimize your time and focus on maximizing your output.
– Alright, real estate success tip number seven.. Okay, we’re talking about online.
Getting online see in the days of pas,t you had to get in your car, you had to
you had to call up the realtor or call up the, you know,
whoever’s going to help you find the bird dog, we’ll talk about that later, you need to
find these different individuals you need to go out in your car and you had
to search, go drive by on the homes, you go knock on their doors. Guys, we
don’t need to anymore, online is the place to be when it comes to real estate
investing. Go to your local classifies, get on Facebook, get on all social media,
and identify the homes that would be right for you that fit your specific
criteria. I’m telling you right now, if you’re not using this tool, this online
tool, you’re missing out on a huge opportunity in investing appropriately.
– Okay, now that brings us to tip number eight and what’s really important here
is bird dogs. You don’t have to be the one finding your deals, you can set all
the dogs loose to go out there and chase them down for you. One of my favorite
types of bird dogs is to have realtors. Realtors can access your local multi-listing services,
they can actually go out there, they can find the houses for
you and if they know your criteria, set them to work because they have access
and you need to understand this, the deal of the decade comes along everyday
which means you’ve got to be looking everyday because when it’s time to buy,
it never takes longer than a few days to find an amazing, hot, incredible deal
because they’re out there and these bird dogs are people that you set loose. Now
bird dog doesn’t have to be a realtor, it can also be an investor that really
doesn’t have the money for doing the fix-up or carrying the deal through, they
want to get paid a few thousand bucks for bringing you a really good deal and
I love sending them into the marketplace saying, go find me deals, I will write you
a check to say thank you and guess what you’ve done..
You’ve negotiated a fantastic property again saving a lot of time. – Success tip
number nine, make sure that you get a mentor. Now this is something we can’t
stress enough, mentors are so crucial in your success. You know, I get it, we live
in a DIY society, right? Everyone says, “I want to do it myself, I want to learn it
myself. I want to, you know, I can just go on and
find this little thing and learn it and implement it right away and I’ll do it
and I’ll have success.” Now I’ll tell you, let me just tell you a quick example
because this one really resonates with me, if your appendix were to burst, like
right now, right, if your appendix were to burst, I’ll tell you what you could do, you could
go on to YouTube, you can come onto YouTube land and find the video and
watch it and then get a scalpel and as you’re watching it, you know, get in there
and cut yourself open and and try to do a
surgery on yourself or you could go to someone who’s better than you. – You’re
ridiculous but you’re making a good point. –
Or you could come to a doctor who knows what they’re doing, who’s been there, who’s done that
surgery a hundred times, two hundred times, three hundred times, you want to go
to a mentor, someone who knows more than you about it, right? So again, if you want
something done right, don’t necessarily do it yourself, get someone in your world
who’s been there, who’s done that and who can help you do that as well. – And today’s
video is gonnaing to culminate with tip number ten, maybe it’s the most important, do
something tomorrow, do something next decade, do it someday when you’re older,
I’m too old, I’m too young, now’s not the right time to be an investor, I don’t
have the money, I don’t have the credit so do nothing. – Now. – Now? – Now.
– DO SOMETHING NOW. Okay, friends, this last tip is all about going out there making it happen.
We hear every excuse on the planet, I gotta tell you, when I was 22 years old,
newly married and I knew what I wanted to be an investor, everyone told me I
couldn’t do it, everyone told me I shouldn’t do it, I had a brother that
said I was crazy, I had parents that were deeply concerned, I had people that were
out there saying, “Kris, you’re just supposed to be in college, getting your
education. What are you doing?” But I retired at the age of 26 because I was
doing something when? I was doing something now. My invitation is, find a
way to get a game plan now and act on it. There is some action that you can take
to move yourself forward everyday, in fact, if you want to know right now, when
I look at all the businesses I’ve launched and all the real estate I’ve
done and I look at the success that I’ve had, it usually came down to taking
action everyday and sometimes, taking action takes five minutes and sometimes
it takes five hours but whatever it is, do something when? Do something now.
– Friends, these were our first 10 tips of our top for you. Make sure that you watch
the following videos.

12 thoughts on “How To Succeed In Real Estate Investing [40 TIPS] – Part 1

  1. Biggest question, how to buy investment property without 20% down? I am working towards a sizeable down payment while learning.

  2. I wonder how many years the median house price can out pace the median wage earner before the sheep catch on no doubt a lot longer than I thought, I guess it's get your house while you can before they out price you

  3. Thanks for the great info!

  4. How are you suppose to invest in other cities or states while the current market in your location have houses that are above $200k on average and you have no money? And if you do decide to invest in property and choose to live in that house while having some tenants there for some cash flow, would it be worth it if there was only like 12% equity? And this was for all property in that region where all property is expensive atm.

  5. Awsome. But how do you feel about section 8 tenants? Should I focus on them, mix it up, or is a bad idea?

  6. "DO SOMETHING NOW!" That really motivated me!

  7. my appendix did burst lmao

  8. lol, just got your book in the mail as i was watching this

  9. Hello from Germany and thanks for tip 9

  10. Yesterday you said tomorrow, JUST DO IT!

  11. As an 18 year old what would you say would be the best strategy for me to start off with, like for example renting out house or lease option or just fliping them I need some advice

  12. This video is absolutely great.

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