Posted by publisher on February 3rd, 2012
I am a 27-year old Utah investor that has been involved in the property investing business for nearly seven years. I started in investing back when I was in college. I learned so many things in my first try investing in rental property but unluckily was not that very successful. Back in college, I met a mentor. He owned plenty of investment properties around my college towns and the person who tough me everything about real estate and some important lessons. I did not realize at that moment that he was setting me up to a path that would affect my family and finances for the rest of my life. Here are the two most valuable lessons I learned from my mentor:
1. Lesson #1 ? You can lose your money in real estate if you do these two things
There are only two ways to lose money in real estate according to my mentor: To sign you name to debt is the first. And to give someone a huge amount of check (out of your own savings) is the second one. Avoiding these two things will basically give you an edge over other people going into investments.
2. Lesson #2 ? It is much better to start your investing career without having money
Don ?t expects to use your credit or having a bundle of money on your pocket when you go into real estate investing. The reason for this is that you can learn techniques on how to be successful in the business without the use of money or credit. He compared it to a wild animal and a domestic pet. The wild animal is the stronger and more determined among the two because he has no choice.
At first, I think what my mentor said were not right. I thought that my situation is different from him. However, after being in the business for how many years I can say that what he told me really helps shaped my career and grow my business.
The author is a part owner of a real estate investment company called ?Clearfield Utah Real Estate.? We specialize in buying homes for sale in Clearfield.
See more real estate news and articles at: ON THE GO CLEARFIELD HOMES
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