Real Estate: The Power Of Mind Over Money | Real estate

Contrary to popular belief, it does not take a lot of money to make the first step in the world of real estate investing and start producing wealth. It merely takes a little money – and a lot of time.”Give me a million dollars, and I will turn it into two millions”. Forgive me, but if anything were to qualify as a silly statement, this would be it. Not because this statement is untrue, but because it is inherently obvious. Anybody can turn a million dollars into two millions. The trick, of course, is to get the first million.Or how about this one: ” The rich get richer, the poor get poorer”. Politicians as well as ordinary people use this statement as a political weapon to endorse the idea of taxing the rich, so as to redistribute their wealth to the poor. But even at the risk of being too blunt, the reality of it all is that giving money to the poor does not make them rich. If it did, all those welfare recipients out there would be millionaires.”The rich get richer, the poor get poorer” is true, but within an entirely different context. It does encapsulate, in fact, the secret to accumulate wealth. The reason as to why rich people get richer and poor people get poorer is that rich people continue to do all the right things that got them rich in the first place, whereas poor people continue to do all the wrong things that got them poor. Naturally, then, it is of extreme importance to find out how rich people got that way.


Statistics show that if one goes back far enough in the family history of wealthy people, it comes to a point where none of them started rich. There was a time when the rich were poor – as poor as today’s poor. In fact, to be more precise, there was a time when the rich were ‘broke’. To be poor is a state of mind, to be broke is a state of … money, and lack thereof. With the difference consisting in the fact that one can always fix being broke, whereas it is not so easy to fix being poor.So, how does anyone fix being broke? There is no magic: work hard, get a little money,save some of it and then invest it. Eventually, with time, one will not be broke anymore. That is according to study after study conducted by financial researchers everywhere. This is why, as I have stated above in my opening line, to make the first step in the world of real estate investing it takes a little money and a lot of time. Saving is what will get anyone to the first million dollars.Wealth accumulation in grand style, especially as it relates to Real Estate, has nothing at all to do with large inheritances, sizable insurance payouts, business fortunes or even lottery winnings – much less lottery winnings, in fact. More than 95 percent of the wealthiest people in North American have made their money and got where they are today solely through their own efforts. They worked hard, got an education and a good job, saved whatever money they could here and there and took the plunge into Real Estate. They did not begin with $300,000, or $200,000 or even $50,000 to invest. In fact, a recent survey of successful American real estate investors conducted by The Spectrem Group (www.spectrem.com), a financial analyst firm, reveals the following common trait characteristics:[ ] They began investing in Real Estate when they were young. The average age when they made their first investment was 24, and 10 percent of them began investing before they were 20 years old.[ ] They invested as often as they possibly could. A whopping 92 percent saved regularly, adding to their savings after the initial real estate investment.


[ ] They invested intelligently, carefully picking the properties they bought, especially at the beginning. The rule of thumb was invariably to maximize return over investment (yield).[ ] They let nothing to stop them from setting aside money derived out of their prior investments. Although the majority of them (69 percent) suffered some circumstance that caused them to temporarily stop saving, only 4 percent actually let go of the saving habit.[ ] They never sold at a loss. Whenever their local markets turned sour, they held on to their investments until better times came around. And better times always came around.And the most remarkable statistic of them all is that, despite all the things that happen to all of us in life, an incredible 31 percent (almost one out of three) said that nothing ever interrupted their savings efforts.The single biggest recognized untold secret of successful people for accumulating wealth in Real Estate is to save and reinvest the savings, with perseverance, throughout the years.

the best business to start right now

Nearly everyone likes the idea of being their own boss. Entrepreneurship has long been a popular goal. With the current challenging economic times, this goal is even more desirable – and more difficult – than ever. Many hopeful entrepreneurs are turning to their computers, as internet based businesses typically have low start up costs and are easily managed in one’s spare time. This leads to the question, just what is the best business to open on the internet?

You have probably encountered a variety of get-rich-quick schemes (if it sounds to good to be true, it probably is), and work from home offers (usually minimal pay, and they still include a remote boss breathing down your neck). Along with these simple sounding, yet not feasible, solutions you will find a host of expert advise. If these experts claim to have a one-size-fits-all solution telling you the best business to open on the internet consider this a red flag. In truth, the best business to start online depends largely on the person starting it.

One of the first rules of business is selling what you know. We are all experts in something. Hobbies, interests, life experiences and current or previous employment can provide you with above-average knowledge of skills in specific areas. Likewise, we all have our strengths and weaknesses. Think of things you are better at than your peers, and specific strengths such an organizational skills or communication. Make a list of your own special qualifications, and use that to build your own business opportunity.

CHOOSING THE BEST BUSINESS TO START ONLINE
Once you have determined your skill set and area of expertise, it’s time to decide what to do with it. Here are the top three ways to turn your skills into online business opportunities.

1) Affiliate Marketing. If you have enough knowledge about a subject to create an informative website, you can easily monetize it through affiliate programs. For the cost of a web host, and the time to build a website you will be on your way. There are companies in nearly any niche imaginable, offering affiliate programs. Select the ones you feel comfortable promoting, and post testimonials or advertisements on your site along with the affiliate link. You will receive a percentage of every sale made from a click-through on your website.

To start with, you will need enough content for a 5-10 page website. Make sure you provide valuable information or insight, as this will keep your traffic and page-rankings high. Add to your site weekly at minimum. Fresh content will boost search engine traffic. Affiliate marketing can be easily incorporated into a static website, blog, or both.

2) Outsourcing. Contrary to popular belief, outsourcing isn’t all about sending our jobs overseas. Many companies are streamlining operations by contracting out work previously done in-house. If you have skills such as accounting, preparation of legal paperwork, or art that can be performed remotely, this may be the easiest and best business to start online.

There are a growing number of websites dedicated to freelance work. You can choose one of these or create a website to promote and sell your service. This is very similar to setting up a professional practice with a home office, except your clients come to you virtually.

3) Consultation and Tutoring. If you have truly expert knowledge in any particular area, you can start your online business by selling that knowledge. Whether the subject is world travel, coping with grief, or advanced algebra people in need of an advisor will typically pay good money. This option requires good people-skills, as you will likely be dealing with clients one-on-one.

You will need a website to promote your service, and allow potential clients a way to contact you. It can be a simple one-page site with a description of services and contact form, though websites including valuable information about the topic will lend credibility. Online communities and topic specific forums are often the best, free, places to advertise your business.

Depending upon your specific area of skills and knowledge, the best business to open on the internet may be some combination of the three discussed above. Whatever your choice, remember the first rule of business (sell what you know), as well as the second rule – offer value to the customer. This is always a winning combination.