bharatbhasha.com
Free Articles  >>  Business And Finance >>  Page 2878  >> 

5 Step Process to Financial Freedom Through Real Estate Investing





You have learned how to create a real estate business. But at the same time, you want to create your net worth. The steps to getting this done are a 5-step process. Not only can you apply this process to your business, but you can apply it to your personal life.

The five steps to Getting it Done are:

1. Define what role you will play 2. Establish your vision 3. Create your storyboard 4. Create your plan 5. Create your performance dashboard

Defining your role: The roles that you can play in your business are that of bird dog, wholesaler, rehab and retail properties or multifamily apartment rentals (income) properties. The more focused you get in defining the role you wish to have, the more effective you will be. Do not try to do everything or you will get distracted and bogged down by stretching yourself too thin.

Establish your vision: Your vision is your reason "why"; why you are creating your multifamily apartment business. Make this a "three-year" vision. Ask yourself where you want to live, what do you want to do and what do you want to have over the next three years. This timeframe is long enough to keep you focused and energized.

Create your storyboard: This is a physical representation of what you want your vision to be. Your mind thinks in pictures so keep this board in front of you everyday. Cut pictures of your "dream" items out of magazines. Post pictures of multifamily apartment properties that you have closed on.

Create your plan: What is the sequence of steps to get you to your three-year vision? What are the milestones along the way? Create a storyboard that steps out your plans all along the way. Define the action steps that must be taken in order to reach each milestone.

Create your performance dashboard: This will be your daily and weekly "scorecard" of how you are doing in accomplishing your goals. You will be able to see what goals you haven't met each day and each week. This is a great way to actually "see" where you are on your path to financial freedom.

Once you put this five step process into place, you will be able to "see" the big picture and more effectively work your business. As you progress and begin to achieve goals that you have set for yourself, you will begin to realize your dream of financial freedom.


About Author Lance Edwards :

Think you need big cash and experience to do apartments? Well, Lance Edwards is living proof that you can start with multifamily investing - just like he did and using none of his own money. Utilizing the multifamily apartment strategies he now teaches and writes about, Lance retired from his job in July, 2005. For more information on how you can achieve financial freedom using other people's money, visit <a href="http://www.ApartmentWealthMachine.com" target="_blank">http://www.ApartmentWealthMachine.com</a>


Article Source: https://www.bharatbhasha.com
Article Url: https://www.bharatbhasha.com/finance-and-business.php/188948


Article Added on Saturday, November 21, 2009
LD
Other Articles by Lance Edwards

How to Get Predisposed Private Money
Real estate entrepreneurs may desire to get out from their jobs and enter the world of real estate investing using their own money. But it won't work. Ask any successful real estate investor, someone who has been in the industry for a while, and they will tell you otherwise. If you want longevity in this game you need to be able to raise capital from investors. It's not that you can't use your own money, but you will run out. And what's more, it's much easier to be successful in business when...

Multifamily Investing 4 Part Formula to Raising Private Money
When it comes to raising private money for your apartment deals, you are only limited by the scope of your imagination and creativity. The amazing thing is that there is a simple, four-part formula that you can use to raise private money for multifamily real estate investing. Most people, however, don't know about this magic formula much less that there are four parts and what those four parts are. Let us examine each of these four parts for raising private cash. Remember that all four of...

4 Necessary Components to Create Wealth Through Multifamily Investments
It is probably significantly safe to say that everyone is looking to create cash. Commercial real estate investing is an excellent venue through which you can create massive wealth. There are four aspects in real estate investing that you need to accomplish this goal. These components are specialized knowledge, marketing, systems and mindset. Specialized knowledge includes all of the techniques needed to obtain multifamily properties. In addition, it is also the knowledge that you need to...

Buying Multifamily Properties and Overcoming Your Fears
It is our job as entrepreneurs who are raising private money to learn how to direct energy, other people's energy, into vehicles that produce more income for us and for them. It is all about managing the energy. You have a choice when it comes to raising private money for real estate investing: you can put your energy and time into a deal or you can put in your money into a deal. The goal is to put in your energy with someone else's money. But how do you do that if you are paralyzed by...

Get Out of Your Job and Get Into Apartment Real Estate Faster
Let's be honest: Work isn't always a pleasure. That's why it's called work! You fight traffic, you put up with your boss, you try to ignore the office politics, and you can't wait to get home at night. Day in and day out. No wonder so many people want to be their own boss! Starting a business is not an easy task and the economic turbulence creates a forest of question marks for people who want to start something of their own, especially if they are working at their day-job. What do you do?...

The Apartment Investing Equation that Cost Me Thousands
You've probably heard of the term ROI - used in investing and business - it means Return on Investment. It's what investors and business owners want to make sure they get whenever they sink their hard-earned money into something. Another way to ask is: Am I going to get back more than I put in? In this article, I want to tell you about an equation that cost me tens of thousands of dollars, and years of effort, which I am now giving to you completely free. How's that for ROI!?! The equation...

3 Types of Investors for your Multifamily Deals
The word investor is quite a general term that means different things to different people. Dictionary.com defines an investor as someone who commits capital in order to gain financial returns. So what does this mean in terms of real estate investing? There are three types of investors: lending, equity and hybrid (or combination). Here is a breakdown of these three types of investors. A lending investor is someone who will loan you money on a real estate deal. You will pay them an...

Applying a Business Guru s Insight to Apartment Investing Part 1
In a recent webinar, I mentioned Peter Drucker's profound and time-tested maxim that business equals innovation plus marketing. Drucker knew what he was talking about and business owners and aspiring business owners would do well to consider what that equation means for them. While Drucker's business equation might prove true for any type of business, consider what it means for an entrepreneur who runs a multifamily real estate investing company. How does marketing plus innovation play out in...

5 Networking Opportunities to Acquire Private Money for Your Multifamily Investment
Networking should be a primary form of marketing for all real estate entrepreneurs who are seeking investors. One reason is because networking costs very little but that connection brings with it a lot of trust, so it's easier to ask for, and get, investors. Another reason is because the SEC has strict rules about how you can get private money and advertising for it is illegal. And the third reason that networking should be on your to-do list is because it's something you're always doing;...

4 Essential Questions to Ask Your Investors
There are two kinds of people in the world: Those who say they are going to do something and those who actually do it. You might find people who are interested in becoming multifamily apartment investors but once the proverbial rubber meets the road, they may be hesitant to part with their money. Or, they might hand over their investment with several demands and strong arm negotiation tactics. As a multifamily apartment entrepreneur, you need to not only find potential investors and convince...

Click here to see More Articles by Lance Edwards
Publishers / Webmasters
Article ID: 188948
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:


123 Users Online !
Related Articles:
Latest Articles:
 
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts
Aging


Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of bharatbhasha.com and/or its owners.


Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Cheap Linux VPS Hosting Provided By AwareIndia







Company IDS