SEATTLE AVENUE

You’d have to work a lot of hours at Home Depot to make enough money to use as a property downpayment. You’d have to be very lucky to buy a lottery ticket and win enough money to use as a property downpayment. But, as you should already be observing and learning from your local research, making five-figure profits from buying and selling real estate can be quite ordinary and expected. If you weren’t going to make $10,000 or more by flipping a property, you’d buy a different property.

Master’s Tip: This is the beauty of real estate. You are dealing with big numbers, so the profits are big. Profits of ten or twenty percent when buying and selling yield significant financial rewards to anyone savvy enough to study the real estate market and bold enough to act upon the knowledge they gain.

Master’s Tip: Part of your job is to help your spouse to understand your investment objectives. Real estate is a means to an end. Real estate is your part-time business. You are investing to secure the financial future of the whole family. You don’t want to be married to a person who is going to balk when you put the house up for sale or refinance. You need your spouse to be your understanding partner. You want encouragement and not whining or second- guessing. You want someone who is going to say with enthusiasm, “Yes, we should buy the $20,000 car rather than the $35,000 car because we can use the difference to invest in another property”. You must take the time to explain investing. Investing is when you sacrifice today for a richer tomorrow. Make sure you have the home team support, routing you to victory. Read and discuss an Action Principle each day as a family.

Master’s Tip: You don’t have to love every property that you buy. You can sell them for a profit. You pay your capital gains tax. You buy another property. You do want to love your six properties that you are holding for long-term investment.

You have two routes to gaining the investment funds necessary to accelerate your acquisition program. You can buy a property and increase the income through rehab or better management and, then, refinance. Or, you can buy with the intent of reselling at a profit. You must know the fundamentals of marketing real estate.