This post discusses real estate investing and investing deals.

The number one tip for being a successful real estate investor is to surround yourself with a power team and don’t focus your business only on yourself. A power team around you allows you to leverage other people resources, skills, time, money and build a successful real estate investing business. If you leverage the correct way you could find yourself running a real estate empire building an unlimited number of resources.

The following tips are here to help you begin using leverage as you embark further into your real estate investing career.

When you start leveraging you may have to get dirty.

I didn’t say leveraging would be easy, you may have to do some of the work yourself. Make sure to take the time to clean or paint a home you are considering to flip. Remember to never cut corners during an assessment, legal matters or an inspection. If you can’t handle the job then hire a professional and create the leverage of a future relationship.

Calculate how much your time is worth to you.

Making a decision on what to leverage in your real estate investing business you need to decide what your time is worth. This can easily be done, for example:

Your business takes in $50,000 a year (or will be…if you’re just starting), based on a full 40 hours a week your hourly pay would be $24 an hour.

So any part of your business that you are considering leveraging out should cost less than $24 an hour. Yes, it’s that easy.

Areas of your real estate investing business that you could leverage out:

• Daily office tasks
• Marketing/Promotion
• Building a Client List
• Phone calls/email
• Running your real estate investing blog or website

The foundation and key of leveraging your real estate investing successfully is your time.

Leverage the past and you move forward finding investments.

To be successful when you invest in real estate you must always be working on new deals. Having to work on business issues that are in the past will hold you back form real profits. Leverage out last years taxes to an accountant or think about hiring an assistant to deal with last years paperwork. You should always be focused on the future.

Build and use your power team.

When you start building that great team of people to surround yourself with choose carefully. Do your research, get recommendations and find out if they can help you in more than one area. For example if your lawyer has experience in real estate investing you can leverage his legal skills as well as his leads for new deals or opportunities.

Whenever possible leverage other people’s:

• Skills
• Time
• Money
• Resources

This entry was posted on Tuesday, October 27th, 2009 at 2:33 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.