The 6 Steps to Becoming a Successful Real Estate Investor

According to Robert Kiyosaki (RK), the best selling author of “Rich Dad, Poor Dad”, there are 6 Steps to Becoming a Successful Real Estate Investor.

Here are the 6 Steps:

#1. Decide to become an investor.

Everything starts with the awareness followed by a decision. It is critical that you must decide to be an investor, be committed and must know what your goals are.

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#2. Find an area to concentrate on.

If you are just starting out, stick with an area that you are familiar with or that is nearby where you live. Don’t make a mistake of buying a property which is too far from where you always are. It can be done, but not ideal for beginners. It is expected for you to commit mistakes in the beginning, so better make sure that it will be easy for you to correct it if the location is just nearby.

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#3. Find properties that meet your criteria.

Numbers are important in real estate investor. Use the simple math (addition, subtraction, multiplication, division) using your calculator or spreadsheet. Learn how to analyze properties that will determine if the property is a good deal or bad deal.

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#4. Negotiate the deal.

After the analyzing the property, make offers, negotiate and reach an agreement.

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#5. Put the deal together.

From due diligence to financing to settlement, it is very important to keep on top of all the technical details.

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#6. Manage the property.

It is not as much of a hassle as you may think and it is one of the best ways to make the most of your investment and get the cash flowing in!

As Robert said, if you really would like to be a successful real estate investor, you must be patient enough to master each step.

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Good luck!

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To your success,

- Linda Cervo