Philippe Smith
Philippe Smith
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Three rules for new investors

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Although I don’t enjoy rules, they can sometimes be useful. This post will provide three suggestions that I believe will bring success to new investors who are overwhelmed by information on the BP forum.

1. Daily small goals are the most important.

If you’re a novice investor, you might set a goal to buy your first home within the next 12 month. This will allow you to accumulate equity and learn the Real Estate Industry. You could also focus your daily efforts on spending less money in order to save enough cash to cover closing costs and the down payment. Negative items should be removed from your credit history. Establish a working relationship with a local Realtor. You should set a goal and everything you do every day should bring that goal closer to your reality.

2. Be 100% committed to your goal

Set a goal and then commit to it. If your goal is to purchase your first home, don’t post on forums asking for advice. You will get 10,000 responses and all will be different. You will ultimately do nothing. Only you can decide what is best. You must set your goals and then commit to them.

3. Do not jump around

Do not start out wanting to purchase your home. Then, you will want to become a wholesaler and then Flip Houses. Nothing will come of it. It is possible to do them all, but you must first master one before moving on to the next. The habit of jumping around is a result of too many people asking for advice on the forums.

These three simple steps will help you achieve success. You can ask any questions regarding how to put this advice into practice in your life.

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