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Most beginners start out confused and uncomfortable. They do not know what to do, are pulled in way too many directions and are lost in an information world often called analysis paralysis. They struggle bridging the gap between learning and doing. Here are the best 3 pieces of advice for beginners to become successful investors fast.
1. Focused Strategy – Pick one strategy, focus all your efforts on this strategy and become a master. There will be no more spinning your wheels, confusion and uncomfortable feelings. Commit to this strategy and only this strategy until you are an absolute expert and master.
2. Specific Target Market – Choose 1-3 specific areas as your target market. Any more than that and you are spreading yourself too thin and taking unneeded risks. Learn these areas inside out. Meet the agents, investors and professionals that work in the area.
3. Simple Plan – Document a simple business plan. This does not have to be a full professional business plan, but it must be documented. Keep it simple and implement your plan to achieve your goals.
Many beginners will continue to spin their wheels. Some however will focus on one strategy, choose specific target markets and document a simple plan. The later almost always become more successful. When are you going to take this advice and achieve success?