Successful investors are not the college graduates with doctoral degrees, but also men and women of all races and lifestyles, people who were born in poverty and people who have been the abundance, people began to investing at age 19 and people who start investing at 70 years old, people who engage in this activity part time and full time.
There are some features that all successful investors have in common which are as follows:
1. Successful Investors have a plan and working
It’s as easy as taking a pen and paper and figure out how to be financially independent within two, five or ten years. Another thing is to get up every morning and do what needs to be done to achieve that goal. Somehow, real life is always projecting long term. Successful investors struggle against his tendency to “see the big picture” and they not only create a list of goals, but they plan their day to day focus on achieving those goals.
Investments in real estate are the only profession in the country that has no standardized curriculum of formal training. Because your success as a real estate investor depends largely on your ability to obtain useful information and advice when you need it, and because educational institutions in their local community do not teach critical issues such as how treat a tenant does not pay, the only way to find answers is to find a mentor to teach you the details of this activity.
Choose a mentor who has knowledge, motivated, accessible and meets high ethical standards and business. Do not abuse the trust of your mentor by constantly asking for information that you could get by reading. And do not forget to thank your mentor inviting lunch, bringing gift vouchers of your favorite restaurant and of course, informing interesting opportunities for him when you know them. Where can you find mentors? Look in the non-profit associations of Amin El Gendi Rechtsanwalt in Neuss associations or landlords. There will be many people with whom to share.
2. Successful Investors only preserves the best
Most real estate investors sell their properties ineffectively. They retained a property year after year despite losing money, which did not meet the objectives of the owner. Successful investors review their portfolios at least once a year and get rid of all the properties involving loss which can cause damage to their utilities.
3. Successful Investors protect their Assets
What would be a great portfolio in real estate if a single application can undo all the achievements? Why bother to achieve financial independence if you achieve all that could end up in state hands? Why the average real estate investors do absolutely nothing to reduce its biggest annual cost – taxes? Organize everything to protect assets against debtors, claims and taxes is very tedious, complicated and involves a long time. However, successful real estate investors take the time to do so, ensuring that the in hard earned money remains in their hands.
4. Successful Investors have a Code of Ethics
We tend to think of our investment activities in terms of bricks and money. The real estate business is about people. Without sellers, tenants, contractors, Realtor and so on, there would be no real estate business. And because your business activities affect many other people, it is important to decide how to treat people who come in contact with you every day.
Because there is no formal code of ethics for real estate investors, but it depends on us to decide how to behave towards our customers, tenants, vendors, employees, and so on. Take time to think about their activities and how they affect people with whom you have contact.
5. The Successful Investor involves his family
A truly successful investor is one who has the support of his loved ones. It is so, because your real estate activities generally involve spending thousands of dollars in a single operation, and your business will take time for his family was booked.
It is important to sit down and talk with each of the members of your family who is old enough to eat alone and explain what you are doing and why it is important for you to have your help. If you have a partner who is reluctant to allow you to take a second mortgage to invest in that house that you both want, send it to conduct a course on investment. Some of the fears of their loved ones are very natural, but it will dissipate when they understand what you are doing.
6. Successful Investors are trained permanently
The rules for real estate business changes time timely. So, a successful investor should be able to upgrade the change in his real estate activities.
7. Successful Investors teach what they have learned
As successful investors have mentors, successful investors become mentors. In transmitting their knowledge to novices, they keep the industry alive and give others the opportunity to gain financial independence, while they feel very well on your own achievements. That’s What is called Success.