Manage episode 239937057 series 1456926
Times are changing, but the techniques and strategies that make real estate investors successful are timeless. Every one of us needs to be diversified and learn as many ways to structure deals as possible to stay alive in the real estate investing business.
Too many people today believe there are only two ways to buy real estate, buying with cash or getting money from an institutional lender. The truth is you don’t need either. Any fool can buy real estate if they have a large sum of money available to them, that doesn’t mean they are making good deals.
To be diversified, you have to be able to buy any property that you go by, whether it’s up for sale or not. Being a one trick pony is not going to get you where you want to go financially. Anything you can use to provide value to the seller can be a form of currency that can allow you to make a higher profit.
This is a very important concept to understand since if you don’t know how to make offers once the market turns and you can’t access that money, you’re business is going to dry up.
Don’t get hung up on being technique driven, learn to be diversified in the skills that allow you to make offers, no matter what the market is doing or the state of the overall economy. There is no silver bullet to investing success, but by diversifying your skills you can thrive in any market at any time.