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Invest Myth: You Have to Know the Tricks of the Trade
By eric | November 21, 2007
There are no tricks of the trade in the purest sense of the term. But there are secrets to success in life. And as long as you know those, you’ll be successful at anything. First, you have to set goals. Goals will be the foundation of the roadmap for your success. They will also tell you when you have arrived, so you can pat yourself on the back. Everyone needs that reinforcement.
Second, you have to persevere. Quitting when things get tough doesn’t produce winners. In fifteen years, I could have quit a hundred times. I’ve had plenty of tough problems. Financing that falls through, employee problems, and downright frightening resident issues. But successful people work through difficulties and they come out on the other side stronger, more confident, and better prepared for the next challenge. And trust me, there will be more challenges.
Finally, you have to understand the process. It will take you from beginning to end and every step in between. From setting goals to setting up your team, to finding property, to evaluating it, to determining a purchase price, to managing it, I’ll let you in on fifteen years’ worth of experience.
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Topics: Property, Residential |
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