The Five Steps To Building Your Real Estate Wealth Fast

In my last article on how to build your real estate wealth fast I strongly encourage you to stop thinking about it and start doing it.

Today I’m going to strongly suggest that now is the time to begin quickly building your real estate wealth.

I don’t have crystal ball so I have no idea if the market is bottomed out yet.

What I do know is that only a fool tries to time the exact bottom – or top – of a market.

Trying to do that is a sure-fire recipe for Not building your real estate wealth fast.

What I also know is that in almost every market there is a huge amount of money flowing in buying up short-sales, REOs and foreclosures.

Property is being rehabbed, rented, flipped, and real estate wealth is being built fast, right before your eyes.

Savvy real estate investors – people just like you – are getting wealthy in real estate as we speak.

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There’s a huge amount of opportunity out there right now to start building your real estate wealth:

• Lenders aren’t getting their loans paid
• Home owners are getting foreclosed on
• Renters are relocating because their rentals are getting foreclosed on
• Banks have so much product in the pipeline that they don’t know what to do
• Sellers that need to sell now are amazingly motivated to sell . . . .

To sell to someone just like you who is intent on seizing the day and building their real estate wealth. 

Look Before You Leap

There are a few things that you should keep in mind before getting started:

Bidding Wars

Do not ever get caught up in a bidding war. I’ve personally seen some otherwise smart real estate investors get emotional over a particular deal and pay way more than they should have.

Have your game plan set up, know what your exit strategy is before you buy, understand what your true rehab costs are going to be, and always have a Plan B.

OPM

Using Other People’s Money is what a lot of real estate wealth is built on. Remember, the more of your own money you have tied up in the purchase, the less you’ll have for rehabbing and marketing to find tenants.

Reliable Suppliers and Vendors

Have these guys and gals lined up before you close the deal. Creating a Rehab Team is one of the smartest things you can do to build your real estate wealth fast. Unless you have a lot of time on your hands - and a lot of skilled construction knowledge – it’s best to outsource this part of your wealth building real estate investment project.

Buy From Sellers Who Want To Sell

Even with the way the market is today there are still sellers out there who whine about having to sell for less than what they (over) paid for their property during the boom times.

Is this your problem?

Of course not. If you’re trying to buy real estate from a seller that doesn’t want to sell for what you think the property is worth, then move on.

It’s their loss, and your future gain.

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Stick To Your Plan

Know if you’re buying the property and will keep it for the cash flow, or if you’ll building your real estate wealth fast by selling the thing to another investor. Have your Rehab Team put together and understand what your actual costs are going to be to get the rental property up and running and rented fast.

Follow these five steps and you’ll be fast on the way to building your real estate wealth.

Jeffrey Roark
Build Your Real Estate Wealth Fast
Make Money In Real Estate