6. Try getting out of town. Take a seminar from somebody who has been in the real estate business for a long time, but has had success in another town. For example, not long ago I flew to Tampa and re-took John Schaub's two day course. Yes, it was expensive, and yes, I already knew a lot of it, but it was entirely worthwhile to hear it from a different source and get a different angle on it.
Also, being in a new place, you will take things in and process them differently. If you don't want to go out of town, take a new course being offered through Georgia REIA.
7. Put some cash in your pocket. Another way to jump start yourself is to get some cash. There is nothing like cash for burning a hole in your pocket. Call a local mortgage company, and meet with them to find out what your credit score is, and whether or not you might qualify to re-finance anything you now own. If you can pull a little cash out, then you become emotionally empowered to spend it on a down payment or maybe make some cash offers to the motivated sellers you are finding. At the very least, put a home equity line on your current residence and see if you can pull out some cash.
8. Recognize that this is the same market for you as it is for every other investor, and that SOMEBODY is out there making money in it, and you might as well join them. Also recognize that, when it comes to achieving financial freedom, most people never do anything.
The fact that you are reading this article indicates to me that you have a high level of motivation. Get and read a copy of The Millionaire Next Door if you have not it read recently. Then set some goals!
9. Finally, sign up for and attend the REAL ESTATE COFFEE BREAK every Thursday at 1pm ET.
It’s a weekly gathering of real estate investors, owners, and professionals from around the United States. We come together for 20 minutes on an internet webcast to learn first-hand from a wide variety of real estate thought leaders and wealth-building experts. These expert guests, hand-selected for their specific expertise, are going to share with you and your peers important information and valuable insights you need to ensure your real estate success.
Even if you can’t attend in person, go ahead and sign up so I can send you a link to the replay.
I hope these nine ideas will help motivate you back into this market. My friend John Mangham bought and rehabbed over 120 houses in metro Atlanta last year alone. I wanted to do that many, but my wife threatened to divorce me. Whatever your situation, you’ll find there is plenty of opportunity in today’s real estate market!
About the author ~
Atlanta native John Adams is an investor, a broker, and a freelance columnist for the Atlanta Journal-Constitution. His award-winning radio show airs each Sunday at 3pm ET on Talk920 WGKA. Learn more about him at RealEstateCoffeeBreak.com.
16 we are GaREIA Jan/Feb 2015