When investing in real estate the most important thing is getting your name on deeds. This basically means acquiring properties, getting your name or your business on the deed. Having ownership!
You can’t benefit from real estate without owning it (or controlling it). I know, pretty simple principle, right?
So why don’t more people that want real estate have real estate?
Get Your Names On Deeds to Succeed in 2021!
What do you want to get done in real estate in 2021? How are you going to get there?
Start writing down the answers to this, but….
The real question you should ask is how am I going to get my name on deeds?
That answer is what is really going to get you to your real estate goals in 2021.
I’ll give you my answer – get more offers out!
Getting more offers out…
Maybe you are thinking I can’t make offers because I don’t have down payment money, or my credit is bad or abc and xyz – whatever it is.
Stop and instead of saying I can’t make offers ask HOW CAN I MAKE MORE OFFERS?
For something like not having down payment money you have options, such as partnering up with someone who does. This is possible and happens all the time! I know this because I have been on both sides of it!
Another option is getting a private money lender that will provide down payment money. Will it be expense, probably. 12-14% interest, yes likely, but if it gets your deal done, does it matter?
What else is stopping you…..
Fear of buying a bad deal
This is another big one. Let me ask you something, do you invest in anything? Stocks? Do you have a 401K? If you own any investment at all you are taking on risk. Real estate is no different, except the fact that it offers so much more potential to build wealth (and thus offset mistakes).
If someone makes a mistake and they buy a rental property that doesn’t cash flow, does that mean it is a total disaster? What about principal paydown? This builds equity in your property, thus building your wealth. What about possible appreciation? How about the tax write offs, thus keeping more of your income in your pocket.
These are just a few ways that real estate benefits you!
Which is why the most important thing is NAMES ON DEEDS.
Are we seeing a theme here?
Remember success is on the other side of fear. Don’t let fear stop you from getting your name on deeds.
Knowing how to analyze a deal, networking to find partners and private money lenders. These are the things needed to get your name on deeds.
Ask me how I know…
I’m on my soapbox in this post because I have been there. My brand is scaredycatguide for a reason. I was scared and all it did was slow the growth of my rental portfolio.
To mitigate the fear I learned how to analyze deals and leaned on the property calculator to see that the numbers made sense, taking the emotion out of it.
But that wasn’t enough, it was great grinding on my own acquiring one property a year trying to do it all myself for a while, but I was my own bottleneck.
Then, years into it I finally began to network, partner and leverage available resources. This more than doubled my opportunities and acquisitions. It didn’t happen overnight, I want to be clear about that. However, over the course of the last two years I grew my portfolio more than I had in the first four.
That networking started a few years ago and started paying dividends as early as 6 months in. Please don’t be short sighted, things don’t happen overnight, but here’s the thing – the clock doesn’t stop and time passes faster than you think.
Take action every day to get your name on deeds because those small actions each day snowball and before you know it they have a compound effect on your growth and success.
Goals without Navigation
In the end, if you know the basics of analyzing a deal and how financing works then you have the tools to succeed. That is the learning needed, which is about the easiest educational barrier to entry there is of any investment.
Knowing these basics and then setting a focus – which market, what kind of properties, what price points. All of these things give you navigation on the path to investing success.
Do whatever you need to get the basic knowledge and answer the items above. If you need guidance on that I’m here to help and that is exactly what we get done in my one on one coaching program! Let’s get you making offers!
Let’s get names on deeds in 2021!