This article will help you decide if you have what it takes to be in the Real Estate Investing industry. Like many other jobs, this takes a large amount of hard work and long hours. If you are lazy, forget about it. You must be committed and put passion in your work.

With careful planning and investing a lot of time in the business, you may be able to become a successful real estate investor. You have to plan every day, week and month, and you must follow every step of your plan. You have to learn the industry — that being an essential part in becoming a good real estate investor.

You can treat this business as a science, as you should never stop acquiring new information — don’t stop learning. The education in this line of work never ends. The market trends and local market information change, so you have to keep up with new data. You can educate yourself using any information you can get your hands on. You can find courses – paid or free, online or offline – about all kinds of real estate investments.

You have to learn to accept rejection and face it head on. You have to believe that every rejection that you receive will take you closer to an acceptance. Every negative answer will take you even closer to a positive one. You should not think of fear when you start investing in real estate. You have to be strong and adapt on your journey.

You can’t think about fear, although there can be lots of it. Fear of making a wrong move, fear of a “no” answer from a prospective buyer or tenant, fear of not having enough money to make the deals and fear of people thinking that some things can’t be possible. In this industry you will find lots of fears, but it’s up to you to learn to control that fear, and not let it get to you. You will have to get through them, this being another part in the road to becoming a good investor.

You will learn that there are lots of different areas of real estate investing, each one with various strategies. There are also many types of proprieties – from single family, to multi-family, to apartments, to retail, to industrial, to commercial and more — and you will learn different techniques and methods to be able to acquire proprieties.

In addition to the specific types of real estate listed, there are different types of angles to play on each of these, such as property management, foreclosures, tax liens, tax deeds, mortgage notes, pre foreclosures, and a lot more.

Don’t try to be an expert in all types of real estate — focus and become the expert in your niche. Becoming an expert in more than one or two areas of real estate investing is hard!

Real estate can be a great career provided that you have a foundation to build upon. Once you get that license you feel like you rule the world and can conquer the real estate market.

You most certainly can conquer the market however there are 3 big mistakes that new (and sometimes experienced) agents make that kill their careers. I would invite you to read below to discover these 3 mistakes and how you can avoid them.

1. Failing to have a plan or the business. The plan doesn’t have to be so detailed that printing it kills a rain forest. It should be simple and to the point. A successful real estate plan should have an outline of the goals along with how to achieve them. Break down a yearly goal into a monthly goal and turn that into a weekly and daily plan. That way you only have to focus one day at a time.
2. Not taking real estate seriously as work.Is being your own boss fun? It most certainly can be. What isn’t fun is doing real estate and making no money. Most agents make this mistake completely by accident. They don’t mean to not take it seriously. They model after agents who have been in the business awhile and figure that is the way to do it. Sometimes it is and sometimes it isn’t. What you don’t see is what is usually the secret sauce. What are people doing when the door is closed. To make money in real estate it is work. Make sure the model you are basing your success on is one that fits you and your personality.
3. Failing to base your business on marketing.When economies get tight, like the one we are in, companies change their tunes on real estate marketing. Suddenly marketing isn’t as good as it used to be. Marketing should always be the foundation of a business and it isn’t just because I am a business and marketing coach. Does this mean you spend money and “hope” people call you. No! What it means is that your marketing should generate leads and you should aggressively follow up to see if they are interested in your product or services.

Mistake #3 is probably the biggest mistake of all. You will discover that a real estate business based on real estate marketing that generates leads can weather any economy. The marketing has to produce results quickly in order to be effective.

When you want a detailed approach to avoid these mistakes and get an insight on how to put real estate marketing to work specifically for you register for a FREE 15 minute one on one session with me at www.15MinuteBusinessHelp.com.