So you want to invest and build wealth in real estate huh? You’ve heard stories about other people who’ve purchase rental real estate and made a good living and now you want to do the same? I can tell you that getting started in real estate isn’t difficult it just requires the right state of mind and a prolonged focus. There are many very intelligent people that completely understand real estate and the benefits of investing but avoid the venture due to lack of patience. These people are looking for instant gratification and that’s not something real estate can bring. Success in this business require a long-term mind set and the ability to see into the future. It requires a sacrifice of time, energy and money today for a greater amount of all three down the road.
Answer the questions below to gage whether you’re ready to dive into the world of investing. There are no right or wrong answers and no grade, but this quick test will help you understand whether investing is the right path for you.
1. Are you a patience person? When you decide you want something do you go after it aggressively?
2. Do you tend to get discouraged when things do go exactly as planned?
3. Do you take rejection to heart? When someone tells you “no” do you ask someone else?
4. Can you picture the life you want 5-10 years from now or are you more focused on today?
5. Are you willing to give up some of your time and energy today and become a student of the market?
Real estate investing isn’t for everyone and not everyone that enters this industry will make it down the path to wealth. It’s a tough road but for those who can stay on it long enough they’ll be able to build the type of wealth they’ve only heard about in those above mentioned stories.