Time and time again, beginners make the most common real estate investing mistake. They have goals and aspirations to change their lifestyle and become financially free through real estate. They are so excited they can barely sleep. They read, learn, attend and listen to every bit of real estate material they can find.Weeks, months, even years pass by. What is the result? They are still doing the same thing. Still have the same goals and aspirations. Still learn everything they can, but have yet to do anything in real estate. Is it fear? Lack of knowledge? What is the mistake that is holding them back?
I have seen this way too many times. The most common real estate investing mistake is they do not have a plan. There is no focus, no systems, no tasks that if done will lead to success. Not having a plan is planning to fail!
Solution: Focus on one strategy and become a master at that strategy. Document your strategy in a business plan. This plan is the key to your success.
So what are you waiting for? Get your pen and paper and start with an outline. Define your strategy, criteria, market, exit strategies, team, systems, how to do the deals, how to finance deals, etc. Get feedback from other investors, especially ones that are successful in that strategy, even hire a professional business plan writer. If you have a great plan that is carried out, success is within your grasps. Happy Investing!