Your fear holds you back from taking the leap with real estate investing. But with a little guidance, you can ensure that your portfolio creates the cash flow you want.
My name is Mercedes Torres and when I started investing, I genuinely had no clue where to start. I worked as a mortgage banker, which meant I knew plenty of stuff about the lender’s role in real estate.
I just didn’t know anything about investing!
Maybe that sounds like a familiar situation. You want to use real estate as your vehicle for creating a better life. But you don’t know where to start and you’re scared of getting it wrong.
I totally get it.
I had to make my way through the school of hard knocks to figure out how to find properties that generate cash flow. But I came out the other side and I’m now helping people like you start their real estate journeys.
In this article, I’m going to share four rules for creating cash flow that I’ve learned along the way.
Rule #1 – Be Crystal Clear on Your Reason
There’s a reason why you’re getting involved in real estate.
Maybe you want to pay for your son’s college education or have enough money to pay for your daughter’s wedding. Perhaps you’re trying to build a retirement nest egg.
Whatever that reason is, focus on it and make it the driving force behind your real estate journey. Remind yourself of that reason whenever things get tough and it will pull you through.
Rule #2 – Don’t Reinvent the Wheel
Tons of people have come before you and found success as real estate investors.
They can teach you exactly what you need to do to succeed. Find a mentor who’s achieved what you want to achieve and sit under their learning tree. Watch what they’re doing and get in touch with them. Ask if you can become their mentee.
Take the risk and reach out. A good mentor can show you exactly what you need to know to make this work.
Rule #3 – Focus on the Activities That Produce Results
You’re probably a part-time real estate investor.
I was and most of the people who are just starting fall into that category too. And if that’s you, it means you’ve got to home in on the activities that move the needle for you.
If your goal is to create cash flow, focus on the work that makes that happen. And if you need a little help along the way, well, that’s what your mentor’s for!
Rule #4 – Think Big
This one’s my favorite.
Thinking mediocre thoughts will just get you mediocre results.
Escape the idea of thinking small when you’re just starting and focus on the big picture. Envision what you’re trying to create as a real estate investor. If it’s landing five properties in a year, envision what that looks like and keep your eye on the big picture.
My goal was to create a passive real estate income. I wanted to earn enough from property to be able to leave my job and live off my portfolio.
That’s exactly what I did.
Think big and then put the work in to make that big picture dream a reality.
Just Follow the Rules
With these four rules, you have the blueprint for real estate success. Follow them as I have and you’ll understand more about your journey and what you need to do to reach your ultimate goal.
Of course, that goal differs for everybody.
But if you’re looking for a little help along the way, the Cash Flow Savvy team is right here with you. Get in touch today and we’ll help you to take your first steps into real estate.