How to Become a Successful Real Estate Investor
What is the best way to make money?
Fact: You make money when you buy it, not when you sell it.
This is all part of the investor’s philosophy in that you buy money to earn money. Saving money only gets you so far. But if you buy it and take the time to properly invest that purchase, you can reap rewards on a massive scale. But you have to manage it.
If you buy it wrong, if you underestimate your construction costs, if you overestimate the after repair value, you’ll risk losing or not making any money. And selling won’t save you either as your costs are too high to make a profit. You likely won’t even get a decent appraisal.
You need to buy smartly and think through your decisions. There is more to it than just buying and selling. Selling can get you some money, but it is similar to saving money in that it can only get you so far. If you maintain and build upon a purchase, your equity will rise tenfold. By selling, you’ve just tapped your own ceiling and stated that you don’t plan on breaking it.
At Kings of Capital, we’re empowered to try to change that. We’re going to do everything we can besides getting out there and swinging a hammer. Our promise is to make sure you buy money and invest smartly.
Commitment to Excellence - by CEO, Bill Lodge
To be successful in the real estate world, you need to have a commitment to excellence.
That is the underlying truth that guides me through everything. Most people don’t want to believe it, or don’t fully commit to it. And more than likely those are the people who will fail and not reach their full potential.
I like to lean on my Dad’s advice when it comes to this: “if you’re gonna do it right, do it right the first time.” Most importantly, work hard. If you give your best every day and don’t ask for anything in return, life will reward you by itself.
What this means to me is that you have to go into everything 100%. Whether it is the first time or the thousandth, you have to give it your all and not hold anything back. In addition you have to work smart simultaneously, making the best decisions at the correct moment.
There is a kind of ballet here in working hard and smart at the same time, but with the right mindset, they are one in the same. If you go into every situation with the mindset that you can get the job done well, then you are already motivated to perform superbly. You just have to utilize that motivation in the right manner.
Having a commitment to excellence is a critical component that I utilize in my everyday life as I understand what it can achieve. Not only will it grant me wellness in my businesses, it will also deliver me wellness in my life. If you have the right mindset and treat the world honestly and respectfully, you’ll be surprised when it treats you the same in return.