10 Must Know
Real Estate Investing Secrets
Now learn the 10 Real Estate Investing Secrets every investor should know if they want financial success.
By: Dennis J. Henson
Business success is the result of what you know. In every industry there are key elements—secrets—that if known will help to insure success, but if not known will certainly lead to failure. Real Estate investing is no different. Success begins with knowledge. What are some of the critical lessons that
every real estate investor should know? Here are ten of them for starters…
Secret #1 – Use Other People’s Knowledge
Secret #2 – Consistency and Quantity of Quality Offers
Secrets #3-7 – Skills to Develop
Secrets three through seven are the skills that will have to be developed in order to run a successful real estate investing business. These skills are:
#3 – Finding Good Deals
#4 – Obtaining the Money to purchase the good deals you find
#5 – Fixing up the property so that it’s marketable
#6 – Effectively marketing the property
#7 – Property management
Master each of these skills and real estate investing becomes much easier. However, fail to develop them and you are in for a rough ride.
Secret #8 – Prepare Quality Offers with a Chance of Being Accepted
Secret number eight is that you must prepare quality offers that have a chance of being accepted. These offers must be high enough so that some of them will be successful. But, they must be low enough so that, when one is accepted, it will result in a substantial return on your investment of time and money. This can be easily accomplished by using some of the effective software on the market today such as Evaluate My Deals or similar real estate analysis software.
Secret #9 – The Ability to Determine True Property Value
The ninth real estate investing secret is that you must be able to determine the true value of property. True value is the amount that the property can be sold for in a reasonable period of time. The quickest way of determining true value is by paying a professional appraiser to work their magic. But that is not necessarily the best way. It doesn’t make sense to be paying an appraiser to look at thirty properties when you only expect to purchase one of those deals. That means that you must find an inexpensive way to determine true value. There are professional Realtors who work with investors. These Realtors can provide accurate comparable sales (comps) of similar properties. These comps can give you a very good idea of what a property is worth.
#10 – Have a Burning Desire to Succeed
And finally Secret Number 10 is that you need to have a burning desire to become successful. Your attitude and drive can make up for lots of early mistakes and pitfalls that might sink a lesser person. As Calvin Coolidge once said, “Nothing in the world can take the place of persistence”.
I hope this article will help you in your quest to build wealth through real estate investing. For more articles on real estate investor training, visit my website at www.dennisjhenson.com. Also on that site, you may sign up for free reports, articles, and e-books and find free forms, documents, MP3 downloads and much more. Also visit for a great real estate investing tool.
Learn other secrets of success like this: 10 Real Estate Investing Secrets.