Los Angeles Real Estate Investors know that when it comes to following rules for success in real estate investing, over my many years you’ll have successes with failures.
Los Angeles Real Estate Investors Five Rules To Follow:
1. Knowledge Is Key
Los Angeles Real Estate Investors know that in today’s day and age, knowledge is the new currency.
Without the proper knowledge you’ll follow other people’s advice without knowing if it’s valid.
Knowledge helps all investors from being a good investor to becoming a great investor.
2. Setting Goals
Los Angeles Real Estate Investors know that a goals are different from wishes.
You could wish to be rich, but you have to take serious steps to make success become a reality.
You have to set a clear and specific investment goal to come up with a plan of action to becoming financially independent.
3. Thoughts To Reality
Los Angeles Real Estate Investors say to always invest with a long term perspective set of mind.
Don’t speculate on quick short term gains, if the market is hot you might experience double digit gains.
No one ever knows how the market peaks and it’s usually 6 to 9 months after the fact when you’ll find out.
Los Angeles Real Estate Investors say with rare exceptions, always buy investment property when your cash flow is in the positive.
When you have a cash on cash return, this is directly related to the before tax cash flow that comes from your property.
Cash flow is known as the glue that keep your investments running.
5. Know The Market
Los Angeles Real Estate Investors know that the U.S. is a very large and is made up of hundreds of local real estate markets.
Each market will move up and down due to many local factors.
Be sure to invest in markets when it makes sense for you, don’t do it because you live there or because you have bought property there before.
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