Number One Skill New Real Estate Investors Overlook
Q: Gerald, I’m a new investor having trouble getting started and finding good real estate deals. What should I be focusing on? Caleb, Babylon, NY
A: That’s a great question, Caleb. Real estate investors have to do lots of different things to be successful–we buy, sell, negotiate and manage property just to name a few things, but we can’t do any of those things until we locate actual real estate deals, which is why one of the most important and most overlooked role we play as real estate investors is the role of marketer to find real estate deals in the first place.
All the other roles as buyer, seller, negotiator and property manager are obviously essential but until you actually identify a real estate deal, none of those things matter very much. To be successful in any business normally requires marketing so people know who you are and what you can do for them and real estate investing is no exception.
If you want to buy property, you have to market to sellers, if you sell property you need to either hire a realtor or you have to market to potential buyers yourself. Marketing is a critical 1st step that many new real estate investors overlook.
Thanks for your question, Caleb–good luck.
For more real estate tips and information visit my blog at geraldlucas.com.