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    Real Estate Money Mindset, The
    Real Estate Money Mindset, The
    Real Estate Money Mindset, The
    Ebook126 pages2 hours

    Real Estate Money Mindset, The

    By A.J. Smith

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    About this ebook

    The progressive, tactical, and agile philosophies of the greatest real estate moguls are uncovered and fused together to create a 21st century set of business rules and mentality for real estate success and prosperity to its disciplined followers. Whether it requires the aggressive approach of Donald Trump, the intuition of Gerald Hines, the shrewdness of Mohamed Ali Alabbar, or the ambition of Li Ka Shing, the engagement in real estate transactions requires a disciplined mind to ensure the acquisition of a profitable investment. These principles will captive any reader who is a real estate aficionado or anyone who plans to engage in the sale or purchase of commercial or residential property.

    LanguageEnglish
    PublisherAllen & Allyn Books
    Release dateJun 1, 2011
    ISBN9780982525869
    Real Estate Money Mindset, The
    Author

    A.J. Smith

    A.J. Smith is the author of the Long War series, as well as the first two books in the Form & Void trilogy: The Sword Falls and The Glass Breaks. When not writing fiction, he works in secondary education as a youth worker.

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      Book preview

      Real Estate Money Mindset, The - A.J. Smith

      Introduction

      The turn of the new millennium saw some very astounding events in the United States’ real estate industry. Unfortunately, the events of the 9/11 terrorist attacks and the decline in interest rates helped to increase buyers’ purchasing power; thus, making it most cost-beneficial to buy real estate as opposed to renting it. All of these facts helped create the frenzied seller’s market that we have experienced since 2003. Even the novice real estate investor was taking advantage of the real estate boom and seeing a gainful return on their investment, while potential buyers were cornered into paying inflated prices for resale housing.

      As the real estate explosion suddenly levels off, most investors are beginning to question whether the real estate industry is still a profitable one. The market is normalizing itself, and the neophytes who were able to profit from real estate investing are now tucking their tails between their legs and running to find the next, quick buck. They have concluded that the current condition of real estate is too unstable; therefore, their risk-adverse nature has triggered them to divest their funds from real estate and into another investment source with a lower potential for risk. But, for the industry-savvy experts, these times are seen as the most opportunistic ones.

      I once heard a story that revolves around the great depression. The name in the story may vary from John D. Rockefeller to Joseph Kennedy, depending upon the storyteller, but the narrative went as follows:

      Before the great depression, which started in 1929, oil Baron and humanitarian John D. Rockefeller was getting his shoes shined. During this time, the young man shining his shoes decided to pass along a stock tip to John D. Rockefeller. After the shoeshine was finished, John D. Rockefeller immediately went out and sold all of his stocks. His rationale: when amateurs start getting involved in the stock market, it is time for the professionals to get out.

      And, this is the same premise that current real estate professionals have taken, today. The real estate boom became so saturated with amateur investors, that the market became too unstable to support long-term investors on a whole. But, as the market steadies itself, proficient real estate investors are singing praises of joy as they watch the influx of amateur investors flee for greener pastures, because the true investor knows that the ownership of land and real property in America is the key to building wealth. And, as the number of investors begins to thin out, it leaves even more opportunity for the true investor to get back to reclaiming their market.

      My purpose for writing this book is to help you realize that although the market boom has softened, there is still money to be made in real estate – a ton of money, in fact. Whether you are investing in real estate as a place of residence or as a way to generate income, the power of real estate is one of the best means of generating wealth and establishing a future for yourself and your heirs. I wish to enlighten you on managing your real estate endeavors from a high-level perspective in order to streamline your efforts, minimize costs, and maximize your return on investment (ROI). All of this I will offer to you by way of thirty-two business philosophies that I have devised and utilized in my successful real estate ventures. These beliefs have helped me to formulate sound investment strategies, accurately match up real estate requirements with real property, develop collaborative relationships, produce win-win negotiating conditions, and maximize my return on investments. And, I know that they will do the same for you.

      So, as a gift to you, and as a means of sharing the knowledge, skills, and perspectives that someone once took the time to bestow upon me, I share with you this gift of real estate knowledge, inspiration, and technique that will assist you in becoming a better real estate consumer and investor. I am sharing with you an approach to real estate that will help you discover and maximize your buying potential, efficiently manage your real estate portfolio, and maximize your profits through a streamlined realty changeover process.

      Mindset #1: Know Thyself

      It is important for you to know exactly who you are, and that is a real estate INVESTOR! No matter the circumstances – whether you inherited a house or some land, whether you want to buy a home and use it strictly as your place of residence, whether you are a current homeowner, or whether you are looking to sell your house for reasons known only to you and yours – you are still a real estate investor as you have a vested interested in the property. And, anyone with a vested interest in something would want that thing to appreciate in value over time, or at least I would hope so. If you have a 401(K), Roth or Traditional Individual Retirement Account (IRA), I know that you are hoping that in 5, 10, 20, or 30 years that the monies invested into these savings plans accumulate enough to support you when you leave the workforce. In this sense, you are a financial investor, investing monies into the stock market with the hopes of seeing positive returns on your investment (ROI). Well, the same can be said about the real estate that you own. You don’t have to be a person who continually engages in real estate transactions as a profession to be a real estate investor. Merely by owning your home, owning land, or having your name on the deed as a sole or joint owner to real estate, you have become a member of this unique investment club, and it would behoove you to protect your investment through maintenance, physical appearance, and ensuring that the right social activities and community developments are occurring within a 5 mile radius of your real property.

      Know this and know it well, you are a real estate investor. If your name is on any legal deed in any capacity, you are a real estate investor. Go and stand in front of a mirror and repeat this phrase three times: I am a real estate investor!

      If you still do not feel like a real estate investor after doing this, pick another mirror, stand in front of it and say I am a real estate investor until it sinks in.

      Mindset #2:P(7) = ROI

      The seven P's of real estate, as I've identified them, are critical when engaging in real estate transactions. My formula, called P⁷ = ROI, is to

      (1) Know the PURPOSE of your actions; (2) Quantify your PROSPERITY, or PLEASURE, point; (3) PREPARE to engage; (4) PERFORM as planned; (5) See the end PRODUCT; (6) PROMOTION, PROMOTION, PROMOTION; and (7) Maintain a civil PACT with the other party.

      P¹: Know the PURPOSE of Your Actions

      The beginning of any successful real estate acquisition or sale is to know why you are engaging in the real estate transaction in the

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