Well! I must tell you that I am quite gratified by the number of emails and personal questions I received about Wilson’s success…
It tells me that hearing about other students’ successes brings a very real benefit to everybody…especially those of you taking your first steps on the real estate investing track.
For me, as I’ve said before, it is quite personally satisfying to have helped someone change their life—and the lives of their families—for the better. It is a feeling that you will also experience sometime in the near future…
Because giving back is a big part of the iLoveRealEstate.tv approach…
The truth is that someone else has helped every successful person along the track!
I’m not saying that successful people don’t work hard, take a risk now and again, and don’t deserve their success…
On the contrary–they most certainly do! But remember also that the laws of attraction play a part in every person’s success as well.
Here’s how it works…
When you work hard, educate yourself, put yourself out there and exude a confidence in your abilities…
You are perceived by others -–quite correctly—as being valuable and capable of creating profit and more value. Other successful people, their capital and their deals, are drawn to such people.
It’s just the way the universe works…
Why I focus on beginners
That’s why I focus most of my time on beginning students. When you attend one of my events for the first time or the fourth or even the fifth time, you are being prepared for success…
It’s not just about getting the nuts and bolts knowledge of real estate investing that is crucial for your success, although that’s a big part of it…
It’s also about giving you the mental formula for creating your success.
People often say things like, “Your seminar opened my eyes to what is really achievable” or “For the first time I see what’s possible.”
It’s no coincidence that my students talk about “seeing” and having theirs “eyes opened”…and then going on to achieve great success.
Once you see the path ahead of you and how to get there, success is not only possible, it’s virtually unstoppable!
What NOT to focus on
Don’t worry about how comprehensive my courses are, nor concern yourself with having to master every detail of every chapter all at once…
It’s not necessary and you won’t retain everything at one time anyway.
Most people learn on a supply and demand basis when it comes to real estate investing…
When you find a deal that requires certain, specific knowledge, you go to the course and refresh your memory on the relevant information, or ask an iLoveRealEstate.tv colleague for their assistance.
The point is NOT to be intimidated by the course…
Rather, be relieved that everything you will need to know is in there!
Know what you know
Your first true test in real estate investing is your first deal. Your second test is your second deal, and so on.
That’s why Wilson’s advice is so crucial for beginning real estate investors…
When you find a strategy that works for you, stay with that strategy!
You don’t have to know everything to be a great success in real estate investing, you just have to know what you know very well!
Remember, one success leads to another. Your first successful deal leads to your second successful deal.
Repeating the strategy that works for you is not only smart, but by doing so, you become an expert in that strategy…
When you’re an expert in a particular strategy, your profit level tends to rise with your knowledge!
Resist the “Go Big” temptation
Have you seen those half-finished townhouses around some parts of your city or town? How about those flats for rent that sit empty week after week, month after month?
You may have even bought one of these for you first deal…
But remember, the seller of these properties most likely lost a chunk of money on them…
You don’t want to be that person!
If you’re into your sixth or seventh deal and are thinking about jumping up the ladder to a bigger, more complex deal, that’s perfectly fine…
Just remember what got you your first deal—it was likely a small deal with little risk and a decent profit or cash flow…
That’s why I say that small deals are smart deals. Small deals tend to close a lot easier and sooner, so you can do more of them.
Also, the risks in smaller deals are lower, costs are minimized and steady profits are realized.
I’m not saying you shouldn’t grow in your real estate investing knowledge and experience…
But I am recommending that most beginning investors—and larger, more experienced ones, too—avoid risking more than a small percentage of your portfolio on any one deal.
It’s a much smarter strategy to stay with what works for you until you have doubled, tripled or even quadrupled your income…
Then, when you finally do go into your next deal, your bigger deal, your eyes will wide open to the risk as well as the reward…
Just remember to separate your current income portfolio from any risk associated with the bigger deal…
And remember also what got you to that point…
It was when you were a beginning student, with your first, small deal.