How do you get to “yes” when it comes to real estate investing?
Let me explain what I’m talking about…
The “Yes” I’m referring to is when you’re asked if you are a real estate investor, earning passive income and getting ready to pull the pin on your job…
You can address that question with a simple and honest answer…
“Yes.”
Today is about helping many of you with a similar problem…
That is, getting to “Yes.”
In my last post I talked about leaving a part of yourself behind so that you can move forward in your life…
That new life will be much different than the life you have now. That’s the whole idea of leaving those parts of your life that simply don’t work for you…
In fact, we all have parts of our lives that don’t just do not work for us—but actually, when you really think about it, those parts of our lives end up working against us.
But that’s pretty normal for everybody, right? After all, what’s the biggest obstacle to our success?
In one way or another, it usually comes down to our own little selves!
For some people, that may be a relationship that takes everything out of them…
For others it may be some particular habits or some typical activities they do, like spending too much time in front of the television or too much money out shopping, getting into debt or just living beyond their means…
Seeing your PPR for what it is
But for many of you, the biggest part of your life that is holding you back is your own home…
I’m serious about that; it’s a bigger problem than you might imagine.
You see, I talk to hundred of students who come to an iLoveRealEstate.tv event and then decide that they want to change their lives and become real estate investors…
Only to find that what’s really holding them back is the amount of money they’re paying on the mortgage for their PPR.
Once we do the figures, it’s usually pretty obvious that they have no business paying what they’re paying for a house that they really can’t hold onto if they want to set themselves free…
All of their hard earned money goes into one property, which prevents them from becoming investors and earning passive income.
That happens quite a bit of the time.
So, in many instances, your PPR is what you need to leave behind in order to move forward…
Once you see this for what it really is, you can decide what your next step ought to be: putting your overly expensive PPR up for sale.
Smart selling strategies
This is where a smart selling strategy can really pay off and get you moving forward quickly…
You’ve heard of that old saying, “time is money?” Well, it’s actually quite true.
Think of it this way: The more time spend paying that high mortgage, the more money you’re not earning passive income on your investment properties.
That’s why many of you need to sell your PPR. But when you do, you need to do it the right way.
You need to be sure that your property sells in a timely manner…
Because if your PPR spends too much time on the market without a sale, it’s a very big consideration, both for you and for your potential buyers.
When your house isn’t selling, you get discouraged and lose out on opportunities.
But buyers also realize that a house that’s been on the market unsold for longer than a month or two is an invitation to bring in low offers, and that’s not a good place to be as a seller.
That’s why who you hire to list your PPR is an important part of your success process.
Which agent should you hire?
Which agent should you hire to sell your PPR? The answer is simple: You want to hire the most successful agent in the area.
That agent will know your neighborhood, know what the right price will be, and will likely be able to tell you what you need to do to the property to get the highest price in that crucial 30-60 day period.
Getting the best price means getting the most equity out of the property…
And it’s that equity that will get you into your first cash cow and maybe even your second or third!
That is why you do NOT want to hire a friend who happens to be an agent to sell your house..
Nor should you hire a new agent like a nephew who’s just starting in the business.
You shouldn’t even hire “a seasoned agent” unless they are one of the top agents in the area who has sold other properties in your neighborhood.
Otherwise, you’re not being serious about your decision. You’re letting emotional factors dictate important decisions….
And emotional decisions usually don’t turn out as well as you want or need them to.
Leverage the relationship
Another benefit of using the most successful agent you can find is the relationship that develops between you and that agent.
Top real estate agents have numerous sources for properties coming on the market and any savvy real estate agent will jump at the chance of getting a client who is out to purchase one property after another.
Your successful agent will also be happy to refer you to other agents outside of his area to help you find your future properties and may well know contractors, attorneys and all the other people you will need down the track.
Even though this isn’t rocket science, like any endeavor, it does take some planning and determination.
Now I ask you: “Are you ready to get to “Yes?”