It is not always easy making money while success stories are common, real estate often requires long hours, persistence and smart strategies. it is not a GET RICH QUICK GAME.
- Relationships are everything, leave a meaningful thought in the heart of everyone you meet. it is what they remember they come back to. who you know matters and networking and trust building often trump raw sales skills.
- The market is Cyclical Property values rise and fall. timing and patience are crucial. what works in a boom might not during a downturn. properties are assets but when it is not taken care of it will reduce the price and when a seller is not patient enough he or she will sell with any amount.
- Cash flow is king (for Investors). A pretty property isn’t enough if it’s not generating consistent cash flow, it can be a liability.
- Location still rules. A great property in a poor location will struggle while a decent one in a hot area can thrive.
- Legal and regulatory issues can be headaches zoning laws, permits, taxes, tenant regulations can trip you up if you are not well informed.
- It is a Business, not a hobby whether you are an agent, Landlord or flipper treat it like a business with systems, planning and goals.
- Success takes time, building a reputation, a client base or a profitable portfolio usually takes years, not months.
- Risk is inevitable. There are no guarantees. Deals fall through tenants, cause issues and market shifts.
- Education never stops. trends, laws, tools and strategies evolve. Constant learning separates top performers from the rest.
