How to win as an investor

How to win as an investor

Do you like to play baseball, golf and tennis in the summer?

What fun would be if you played sports and did not keep score?

When you don’t keep score you tend to lose complete focus on your goal of winning!  The same can be true when investing.  If you don’t stay focused onto your goals, you will not achieve your goals.  You have to know where you are heading and how you are performing at all times in order to win as an investor!

Imagine rehabbing a house without tracking your expenses vs. budget.  How far over would you go?

Imagine collecting rent from your tenants without tracking who has paid and who is late?

Imagine trying to wholesaling houses without tracking your incoming lead sources and deal flow?

Why You Need to Keep Score When Investing in Real Estate

1.  Focus:  How can you focus on a game or an investment without having a clue about what the score is?  How can you win if you don’t know the score?

The ability to focus transcends just being competitive in nature. When building your investment, you need to focus on the end result or you can easily get distracted. Do you have plenty of time for things like Facebook and Twitter, but no time to focus on the actual exit strategy of the house you’re buying or on building a strong team?

focus

You see my point. Just stay focused, and keeping score will help you keep everything on track.

Focus helps against a terrible habit entrepreneurs have… The shiny object syndrome.  Come on, admit it!  You are in good company on this one!  We see something new a shiny and we just chase it hoping it is the next big thing!  Meanwhile, our core businesses lose focus and begin to suffer!  Just because you see a new opportunity doesn’t mean we should chase it!  Knowing how to keep focus is critical to success!

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2.  Bad Decisions:  When I was playing sports and not keeping score, I found that I didn’t think at all about what I was doing.  That resulted in some bad decisions along the way.

In your real estate investments, if you make a few too many bad decisions, you’ll find yourself in a world of hurt in a record time. You need to know the score, so you can make great decisions on your overall strategies.  You also need time to think!  This is why I love mastermind sessions because we work on our businesses rather then working in our business!

Write down your goals and specific strategy and regularly monitor your course along the way, and you’ll find yourself achieving your desired results.

3.  Win:  If you don’t keep score, you won’t know if you are heading the right direction or if you’re wining or losing.

I live in Richmond, VA. If I wanted to drive to visit my friend David Phelps in Dallas, I wouldn’t just jump in my car and head west until I finally ran into a sign that points to Dallas. That would be a bad decision and would have no focus–both wrapped into one bad strategy. It would be better to map out the course from Richmond to Dallas and plan the route.

Investing works the same way. Chart your course, starting with an intense focus on what you are working to accomplish. Map out your strategy and take the map that gets you to your end goal. If you don’t know what the end result of all your efforts is, then you never know if you’ve won or lost.

how to win as an investor

Do you know what your number one goal is? 

Maybe it’s your overall net worth, or maybe it’s a monthly residual cash flow.

If you are wholesaling maybe it is the size of your buyers list.

Fix and flipping?  Maybe it is your deal flow.

Working on private lenders?  Maybe you track your ability to build key relationships.

Landlord?  Track your rents received and rental unit growth

Do you have the scorecard in place that provides you with a snapshot of the score on a regular basis? Your scorecard could be financial reports, such as an income statement and a balance sheet or maybe a simple a spreadsheet that lists your assets and the rental income that they produce.

If winning isn’t everything, then why keep score? ~ Vince Lombardi

Be sure that you keep your focus on the end results you are working to achieve. Know the road map that will lead you and that you are focusing on the score of the most important metrics you must accomplish.

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Top 3 Reasons To Invest In Single Family Homes

Top 3 Reasons To Invest In Single Family Homes

Here are 3 reasons to invest in singly family homes.  One of the incredible benefits of investing in real estate is that you can choose to invest in a number of different asset classes including:

Commercial, Multi-Family, raw land (subdivision, infill lots), Mobile homes in parks, Mobile homes on land, Single Family Homes and Duplex’s and Quads.  Which is your favorite?  Leave me your comments below.

Here are the top 3 reasons that I like to invest in single family homes.

single family homes

1. Leverage – Maximize Your Return on Investment

Learning to use other people’s money for your investment will allow you to leverage your single-family homes 100%, which provides an infinite return on investment.

Instead of investing your cash and using your credit, you can learn to buy single-family homes and invest your knowledge into your deals.

Even if you decide to finance with a bank, you’ll likely be making a 20% down payment on your single-family home.  If you buy a single-family home for $100,000, you’ll need a $20,000 down payment as your investment, but the cash flow you create will be a strong return on that $20,000 investment.

2. Growth – Equity, Amortization, and Appreciation

All investments are expected to grow.  There are a number of ways that single-family homes will grow your investment.

Houses are still relatively cheap.   On top of the overall pricing being attractive, real estate investors know how to buy houses on sale in every market. A $100,000 house can be bought for $70,000, which creates $30,000 of equity upon purchase.

Additionally, if you finance your purchase with with a bank, you will enjoy amortization that comes with principle pay-down, so you owe less on your investment each year.

Interest rates have been low for a long time now, none us can predict how long this will last but as long as they are very low it will remain a good time to buy single family homes.

Over the past few years, most markets have enjoyed nice appreciation levels.  In West Coast markets, Florida and Las Vegas there has been tremendous equity gains from appreciation.  No one knows how this will continue in the years to come. I add it as an additional potential investment advantage.  Real estate tends to be hyper-local, so every market and every sub-market is different.  In each market there are pockets of gentrification adding another form of forced appreciation.

3. Tax Benefits

As you begin investing in real estate and holding onto your investment, you realize there are a lot of great tax advantages that accompany your investments. For example, rental income is considered to be passive income and not subject to self-employment tax.

Depreciation allows the investor 27.5 years of deductions on your property and the equipment that makes them habitable (heat pumps, appliances, etc.).  Mortgage interest is typically the investor’s single biggest annual expense, but the good news is … it’s deductible. Other expenses that can provide tax benefits can include mileage, home office, repairs, etc.  The depreciation is a huge benefit to investing in single family homes.

single family homes

These are the first 3 reasons I like to invest in single family homes.  How about you?  What is it about investing that you really enjoy?  Maybe transforming houses and neighborhoods to their former glory, monthly cash flow or something else?  Leave me your comments below!

Please consider shariing this with your social media contacts!

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Why to stop investing in CD’s at the bank

Jim Ingersoll eistein version

In my book “Cash Flow Now,” I highlight the importance of compound interest and the difference in long term gains between 6, 8 and 10% compounding interest.

In the case of Certificate of Deposits, they do not even keep up with our inflation rate but their are Billions invested into them.  Users feel they are safe and they can preserve their capital rather then hoping the stock market does not drop like a roller coaster at Busch Gardens!

Enjoy this video on this topic!

Ready to take control of your own future?

Check out our Mastermind and Coaching at Investor Success.

Click here to check out Investor Success Mastermind

 

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Motivation for real estate investors part I

Monday Morning Motivation for real estate investors!

Today is a great day to invest.  Remove your distractions and focus on your deals this week.

What is the #1 skill your need to improve so you can do deals?  Finding motivated sellers, finding money for your deals, negotiating, learning to structure deals or what is it for you?

Write that one down and work on this week!
Enjoy this week’s Monday motivation for real estate investors with Jim Ingersoll.

Ready to create your own path to success?

Ready to check out part II —-> Click here now

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Step by step process to wholesale houses

The market is ripe to dominate if you have the ability to find motivated sellers and wholesale houses.  Many investors struggle understanding the process and paperwork flow when starting to wholesale houses.  Enjoy this video of a case study that goes one step at a time through the process.

Are you ready to take your investing to the next level?  Check out our Investor Success Mastermind and Coaching Program — Click here for more info

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How to find for sale by owner real estate

How to find for sale by owner real estate

There are some easy steps to take when searching to by houses that are for sale by owner.  The key is to know where to look and how to search for them.  Watch this video and take notes on how to do it step by step.

I have bought many houses direct from seller that were listed for sale by owner and this video shows you how to find them.  Once you have them identified just call the seller on the phone or email them.  Ask them why they are selling, what their price is, the condition of the house, etc.  If it is a house that looks good to you, set up a time and meeting to see it in person!

Good luck in your search.  Have any questions just leave them in the comments below and please consider sharing this with your social media contacts!

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How to invest in real estate with a self directed IRA

The Roth IRA is the best gift our government has given us, but most real estate investors are not fully using it because they think it can only be used for investing in stocks, bonds and mutual funds.

Enjoy this video on investing in real estate with self directed IRAs by Jim Ingersoll

Click here for video on self directed IRAs with Jim  Ingersoll

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Getting Started With Real Estate Investing Entities

Getting Started With Real Estate Investing Entities

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The world of real estate investing entities can be very confusing.

Should you use one for tax benefits?

Should you use one for asset protection benefits?

The answer to both is “YES”

The right entities, used the right way will help on taxes and protect your assets!

Check out this training video from my recent Investors Edge Boot Camp with Lawyer David Stoyanoff discussing benefits of using entities for your real estate investing business.

 

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Capture your Edge [Training Clip] for you

Below is a training clip for you to check out:

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Click the image above or the link below to watch the video-

http://bigmoneyinvestor.com/jim-ingersoll-4th-annual-bootcamp/

making money with real estate
Have you already registered?

If Not you need to do soon because this week we got a bunch of hungry
investors who did register.

Can you make it in May?

I know you are interested… ust want to make sure that you have
the latest information so you don’t miss out.
— Check out the video right now —

http://bigmoneyinvestor.com/jim-ingersoll-4th-annual-bootcamp/

 

I have snuck in a 2nd video for you to check out on tax-free investing, so be sure to click through on this link and you can learn something today 🙂

http://bigmoneyinvestor.com/jim-ingersoll-4th-annual-bootcamp/

Look forward to connecting face to face in May and helping you grow your network, cash flow and long term wealth!

Jim

Jim Ingersoll

 

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Step by step real estate income stream plan

There are a lot of ways to invest, but the very best way that has created more real estate wealth than any other way is…

Invest in the true hard assets (houses and multi-family properties)

Grab your seat in my webinar now —> click here to learn how

How would you like to learn to create nice monthly, recurring income from your investments that is NOT dependent on you finding more wholesale deals or closing more deals at all?

dollars and lightbulbs

The stumbling block is always cash and credit for the investor.

I have some great news today because you are INVITED to my webinar where I am going to tear down your stumbling blocks, remove your hurdles and show you a nice, clear path with step by step instructions on how to create your monthly recurring income streams the right way!

The Right way is:

– Using none of your own cash
– Using none of your credit
– NOT relying on banks or portfolio lenders at all

– Minimizing RISK and MAXIMIZING REWARD!

Ready to jump onto my webinar with me?

Webinar sign up —-> click here now

I will show you how to create your investing criteria, find private individuals to fund your deals for you and great long-term, recurring income streams from your investments the right way!

“Learn How To Build A Portfolio Of Income-Building Properties That Bring You Large, Passive Income Month After Month With No Cash Or Credit Of Your Own.”

Invest the right way and succeed big-time now!

Step by step real estate income stream plan

 

ps — Get yourself sign up to learn from my free webinar here

Click here for webinar access

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