boa | Strategic Real Estate Coach

Avoid these real estate markets

Thursday, September 8th, 2011 | Bank owned, Foreclosures, Real Estate Investing | No Comments

That headline sounds pretty ominous, doesn’t it?

Don’t let it scare you! While it is accurate, the flip-side is that there are a whole lot of real estate markets that you can hone in on and make a killing!

That’s what I’m doing in my local market. I told you about my most recent finds, and that was just in one afternoon! The trick is knowing where to look.

For years, many cautious investors have been saying that now is not the best time to invest in real estate. That is one train of thought, and it has, in fact, saved many people from losing a lot of money. BUT, if you have the right information and resources, now’s as good a time as ever. Maybe even better!

Things are finally **starting** to change in select markets. You have to know what those markets are.

— > Know How to Spot Strong Markets here <—

When you click on the link above, you’ll have the chance to gain access to my good friend, Ken Wade’s forecasting video and eBook. He will show you how to get access to tomorrow’s real estate deals, TODAY. And his eBook won’t cost you a cent.

Imagine having a crystal ball for real estate deals in the palm of your hand. Find out which markets are at the top, which are at the bottom and which ones are rebounding. Even better, find out what’s going on in your own backyard.

Ken is a Harvard-trained CPA and has done over $100 Million in real estate deals, so I’d say he knows what he’s doing.

Don’t get me wrong, it’s bad and going to get much get worse in many markets; you still need to avoid them for a while. However, it’s no longer true across the board …you can start dipping your toes in (if you know where).

There’s NOTHING more important than getting in (and out) at the right time, THAT’s how you create generational wealth with real estate and avoid the catastrophe millions of people have been living through.

You have nothing to lose – check it out today.

—> Click here <—

forclosures, housing crisis, Real Estate Investing, tips

Can you forecast real estate success?

Tuesday, September 6th, 2011 | Bank owned, Commercial Real Estate Investing, Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales, Short Sales, Wholesale properties | No Comments

Welcome back from Labor Day Weekend!

Monday was one of the best days I can remember. I played 18 holes with 2 of my closest friends, had lunch with my wife and kids, sang to my new baby boy Dominic (my girls call him Dominoooch!), worked out like a champ, jumped in my hot tub, fixed my kids dinner, and we closed the day with homemade ice cream sundaes.

Can’t beat that! Seriously what a great day!

After a relaxing weekend, I’m back at it.

This weekend I also had the chance to evaluate a sweet new “success forecasting tool” I’m using.

I want to introduce you to a friend of mine who can help you “forecast success”.

His name is Ken and he’s is not only a Harvard MBA, but a C.P.A. as well. In 30 years of real estate investing, he’s personally closed over $100 Million.
(that looks like this -> $100,000,000) worth of real estate deals.

Ken is the kind of guy that I listen to for “forecasting” advice, and you should, too.

He’s put together a “forecasting” video and ebook for you.

Get it here.

He’s going to show you how you can get tomorrow’s real estate deals, TODAY.

Imagine having a “crystal ball” for your real estate deals in the palm of your hands. Find out what markets are at the bottom, and which ones still have a ways to go down and which ones are rebounding already and what’s going on your own back yard.

Here’s where to get it.

Ken’s just actually giving away this C.P.A. caliber, forecasting information.
You have nothing to lose, other than maybe a ton of your time and a boat load of your money investing in the wrong markets.

But nothing more than that.

Josh

P.S. Have you ever had a shot at “insider info” from a Harvard MBA whose closed $100 Million in deals? I doubt you’ll get that chance again.

“Forecast” your own market and dozens of other markets now before it’s gone.

Special Personal Announcement – My Baby Boy

Thursday, August 25th, 2011 | Uncategorized | 2 Comments

My wife Lisa Marie and I welcomed our 3^rd child, Dominic Tomasso into the world on August 17^th at 8:52 a.m.

6lbs 3oz. My wife would say he’s beautiful. She loves his little lips. I say he’s tough as nails. You should see his biceps. LOL

He’s named after his nona (Dominica) and his grandpa (Tommaso). My wife’s parents are “off the boat” Italians. Lisa has a great family and support system.

Below are a bunch of pictures of “DOM” and my little girls. His older sisters just can’t get enough of him.

Real Estate Announcement

Today’s my first day back to work….just a few hours today and a few hours tomorrow. Then next week I’m going to hit it hard.

This morning I was looking at a new list of REO’s that just hit the market yesterday and also reviewing all the great comments and feedback we’ve gotten about the “Instant Cash Infusion” 4 week coaching program. I wrapped that up 2 weeks ago.

The top question I’ve been getting from the ICI members all revolves around ONE IDEA:

“Now that I have the knowledge to do these deals….. how do I create a consistent, profitable business in real estate.” – J.K.

“How do I avoid the cash flow problems while growing my business? How do I scale up?” – R.A.

“Who should I hire first and how do I pay them?” – R.F.

“How can I consistently profit $10,000, $25,000 even $50,000 a month or more? AND not have to work 80 hours a week to do it?” – P.M.

These are all great questions that I want to answer for you.

I’m going to do a training class next week Wednesday afternoon and Wednesday evening to show you How to Create Business Systems that will allow you to make more and work less and enjoy the results your business can provide you instead of slaving in your business with little results.

https://www2.gotomeeting.com/register/941932082

https://www2.gotomeeting.com/register/487535066

Everyone who registers and attends will get a complimentary set of “Process Maps” that I use to buy and sell real estate on autopilot. You’ll see the “systems” in action and how they allow me to buy and sell profitably without slaving “IN” the business.

I’ll send you more details tomorrow about the class

Talk soon

Josh

P.S. . Register now. I’ve never done a class this detailed before on how to set up and scale your real estate business with office systems and staff protocols. I was reviewing and tightening up the process maps in the hospital while everyone else was sleeping. You’ll love them.

https://www2.gotomeeting.com/register/941932082

https://www2.gotomeeting.com/register/487535066

6 Parts to Rehabbing Successfully

Thursday, August 25th, 2011 | Foreclosures, Real Estate Investing | No Comments

Rehabbing is a great way to get started in real estate investing. Doing it properly will help you avoid becoming overwhelmed – and keep your budget intact. Here are six basic parts of the process that are consistent among successful real estate rehabbers:

Part 1: Before Work Begins

• Rekey or change out all locks (make extra key copies) and place a lock box on the front door. If the property is in a depressed area, board up the windows.

• Put all utilities in your (or your company’s) name and schedule them to be turned on the day you close.

• Getting the permits out of the way will free you up and help you avoid potential problems.

• Some work can begin pre-closing. Foundation repair, if necessary, is critical before doing any other work.

• If the property needs pest control services, have them come by before you start work.

• Have a plumber and electrician go through the property to completely shut things off before you begin related work.

• If the seller allows it, start tearing down cabinets, etc. Get a cleanup crew to pick up the debris. Sanitize the house.

Part 2: Roughing Out

• Replace plumbing under the house or route additional plumbing if necessary.

• Remove rotted framing and subfloor. If damage is structural, get the right permits and people to repair it.

• Replace damaged exterior doors, ensuring that they are to code.

• On a standard rehab, replace only those windows that need it.

• Prepare the exterior for painting or replace with siding. Replace and paint exterior trim, including soffits and fascia.

• Curled, warped or faded roof shingles signals a replacement job. Get a good roofer for extensive repairs. Replacing a few shingles, flashing or vents can be done inexpensively.

Part 3: Mechanical Systems

• Hire a chimney sweep to inspect and clean the fireplace.

• Have a specialist inspect and clean out the heating, ventilation and air-conditioning (HVAC) system.

• Have new plumbing and electrical installed to code. Be sure you have all permits and get the work inspected before moving on.

• After inspection, install insulation in exterior walls.

• Repair or replace driveway, patio and walkways.

• If the septic system needs repair, be sure it’s reported in the purchase contract and negotiate who is responsible for the cost.

Part 4: Unfinished Surfaces

• Replace or repair drywall in walls and ceilings.

• Replace the garage door if necessary.

• Examine and replace gutters and downspouts.

• Install wood floors, if worthwhile.

• Replace or reface cabinetry.

• Repair or replace interior doors.

Part 5: Finished Surfaces

• Paint the interior and exterior.

• Replace countertops with your chosen material.

• Replace flooring with your chosen material.

• Ensure that all plumbing is installed properly and leaks are eliminated.

• Install cover plates, jacks, lights, smoke detectors, etc.

• Install new thermostat and vents.

• Finish or refinish wood floors last, to minimize damage from traffic.

Part 6: Final Details

• Little additions, like doorknobs, hardware, house numbers, towel bars, etc. can add to the appeal – and the budget. Take care not to overdo it.

• Install appliances. It’s often cost-effective to work through one supplier.

• Install carpet, if any. Neutral colors are best.

• Have landscaping done after the major work is complete to prevent damage to the lawn.

• Perform final cleaning.

• If desired, a local designer is inexpensive and can help stage the property for extra appeal.

• Do a final walkthrough to ensure nothing is overlooked.

Many people get their start in real estate investing by buying a house wholesale or in foreclosure and rehabbing it. Following these key parts will help keep your enthusiasm up (and your budget down).

To learn how you can start your real estate investing business, click here.

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forclosures, Real Estate Investing, Strategic Real Estate Coach

15 Ways to Succeed in Real Estate Investing

Wednesday, August 24th, 2011 | Bank owned, Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales | No Comments

It wasn’t long ago that real estate was the way to make money. But, is that still true? Things are by no means back to the “old ways” but if you look around, you will see that the tide is changing. Money can be made in real estate investing. Strategic Real Estate Coach presents this list of ways you can profit from today’s real estate climate.

1. Auctions

Real Estate auctions of all sizes and types are among the richest grounds for good properties. But, newbies need come prepared. Lack of research is one of the biggest newbie mistakes.

2. Divorces

Owners in the middle of a divorce are usually very motivated sellers. Be wary of properties that are underwater; in those cases, a short sale is the best bet.

3. Tax Liens

Properties with unpaid tax liens often end up on the auction block after foreclosure. The government has no use for the houses; they just want their money. Sometimes you can find out about these opportunities before foreclosure begins and see how motivated the property owner is in getting out from under the debt.

4. Notice of Default (NOD) List

The NOD list is a treasure trove of buying opportunities. The owners of the newest listed properties may need a bit of (gentle) coaxing before they realize they can’t get out of their situation, but if you are persistent, the rewards can be huge. As with other foreclosure and pre-foreclosure properties, find out how much is owed to the lender.

5. Real Estate-Owned (REO) Properties

Also called bank owned properties, these have already been through the foreclosure process and are now owned by the lender. There are lists for these properties available – agents in your area have them.

6. Short Sales

This is when the bank is willing to take less than what it is owed. Huge profit potential or the chance to own a great property at a bargain basement price.

7. Rehabs (aka Flips)

Although “flipping” isn’t as popular as it was, it’s still a solid way to make a profit – if you do it right.

8. Wholesale purchases

Buy low and sell fast – without even touching the property – to a buyer “as is.”

9. and 10. Rental Properties

There are actually two approaches here:

• Purchase an unoccupied rental property, fix it up, then rent to new tenants or sell it.

• Purchase a non-rental property, fix it up and rent it out.

11. Distressed/Damaged Properties

Drive around and check out any houses with peeling paint, old roofing, tall grass or other signs of neglect. Maybe a building damaged by fire can yield a workable deal. You may be able to find a motivated owner. Take care and get as much information as possible before buying.

12. Free and Clear Properties

You can buy a list for properties in your area that are owned outright. Making an offer to an owner could be profitable.

13. Out of State Owners

Rentals, vacation homes or maybe houses purchased for the big retirement move that never happened.

14. Probate

Heirs often need to sell a property in order to split the proceeds. A cash offer is likely to motivate.

15. Selling Leads (Bird-Dogging)

Create a list of secured leads by doing the legwork yourself and sell that information to local investors. Or, you can do all of the preparation and presentation and present it to investors and take a finders-fee.

Just because you’re not an agent or big-time investor, doesn’t mean that you can’t dip a toe in the waters of real estate investing. It’s easier than you think! The list above isn’t hard and fast – there are many more ways to take advantage of investing in real estate. Use this list as a springboard and dive right in!

To learn more, click here.

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housing crisis, Real Estate Investing, Short Sale

Meet Our SREC Student of the Month, Peter Gorski

Friday, July 29th, 2011 | Real Estate Investing, Uncategorized | No Comments

We’re proud to spotlight SREC Coaching Student of the Month, Peter Gorski. Peter joined our coaching program about two months ago, and has already been realizing some tremendous results! Peter attended our 2-day SummerFest high-end student mastermind event last week, and had a tremendous experience. As a gift for being chosen Student of the Month, Peter was invited to stay for two additional days of mastermind with the Maverick/Master’s Elite/Board of Advisors students.

Here’s what Peter had to say about his experience:

“I first wanted to say that I had one hell of a time at SummerFest. It was like no other event that I have been to before. It blew them all away. I was super excited to meet the SREC students, as well as your team, and I had no clue what to expect on Thursday going into the event. Everyone was so very nice to me and to the others, and that is very important to me because it makes me feel welcomed and part of your team vs. others. I’m no one to them but just a name on a list.

You put on one hell of an event and I’m looking forward to the next one. I have to make it to the top and
now, due to SREC, there is nothing holding me back.”

I want to share the story of Peter’s journey before SREC and since joining SREC with you, in his own words:

› Continue reading

investing, Josh Cantwell, Real Estate Investing, Success

BOA Shelling Out $8.5B From Housing Crash

Wednesday, July 13th, 2011 | Uncategorized | No Comments

Last week, Bank of America announced that it will shell out $8.5 billion in the bank’s largest single settlement in the current financial crisis. The money will go to 22 institutional investors that lost money on mortgage-backed securities. Many of the mortgage issues stem from BOA’s purchase of Countrywide in 2008. BOA says the settlement will lead to a 2Q loss for them of roughly $8.6B – $9.1B, and is subject to court approval.

BOA CEO Brian Moynihan is looking at the settlement as a chance to minimize the impact of economic uncertainty and put the whole issue behind them. In his mind, it made more sense to settle than to continue the fight.

This settlement could spur other banks such as JP Morgan Chase and Wells Fargo to settle mortgage claims in the near future.

To find out how you can put money in your pocket in today’s real estate market, click here.

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Investors Rule the West Coast

Wednesday, June 15th, 2011 | Bank owned, Foreclosures, Real Estate Investing, Real estate short sales | No Comments

If you’re a real estate investor on the West coast, you’re sitting in a great position these days. Why? Because according to ForeclosureRadar, “third-party investors are reselling foreclosure properties they’ve scooped up at auction at a rapid pace in states along the country’s western seaboard,” including California, Arizona, Nevada, Washington, and Oregon. Here’s the best part – investors are moving distressed homes faster than banks are.

ForeclosureRadar tracks foreclosures and auction activity in the states listed above, and has seen one consistent statistic in all those states in May – a decrease in the amount of time investor’s need to sell properties purchased at foreclosure auctions. For example, in Arizona, investors were able to sell properties in 95 days, versus 150 days for banks. In California, it took just 134 days, versus 227 for banks. Similar numbers were seen in Nevada, Washington and Oregon.

The reason for this gap is that investors have “become better at turning a foreclosure into a marketable property that attracts buyer interest,” according to the CEO of ForeclosureRadar.

To read more, click here.

To learn more about kicking your real estate investing into high gear, it’s easy to get started – just click on the “Click here to gain access” button in the box to the right – “Join Josh on the 4 Strategies That Create An Instant Cash Infusion Online Event.”

forclosures, home sales, housing crisis, investing, Real Estate Investing, Short Sale, Strategic Real Estate Coach

6 Stages to Successful Property Rehabbing

Friday, June 3rd, 2011 | Foreclosures, Real Estate Investing, Real estate short sales, Wholesale properties | 6 Comments

Learning how to rehab houses gives you the best chance of building a sustainable real estate business that will open other opportunities for you. For many a successful real estate entrepreneur, rehabbing is where they cut their teeth. It’s where they gained the skills and insight necessary to build a foundation leading to other opportunities in real estate investing.

When rehabbing a house, there are six main stages of the process:

Stage 1: Pre-Construction – As soon as you close on a property, you want to get to work; after all…time is money. Below are some basic tasks to consider –– in some cases you can complete them before the house closes:

Secure the Property – If you’re buying properties in a tough area, board up the windows and secure the locks. Even if the property is in a nicer neighborhood, rekey the locks; you never know who had a key to the house before you bought it. Have a few keys made and put a lock box on the front door so that your team can get in and out of the house.
Switching Utilities – Put the utilities into your name (or company name) and have the date they are turned on coincide with the closing.
Plans & Permits – Do things the right way and get your permits (construction, plumbing, electrical) before you begin work. This is also where you really nail down your “action plan” and begin lining up materials and scheduling skilled trades to do work.
Foundation Repair – Account for the additional work and risk by buying the property cheap –– as low as 50-60% of market value minus repairs.
Pest Control – This is a good thing to have on your list, but not always necessary. If you find a house full of fleas, termites or other critters…then make that call.
Plumbing Pre-Demo – Have your plumber assess the property. Valves should be shut off, and any old appliances should be disconnected and removed.
Electrical Pre-Demo – Unhook any appliances and fixtures that will be replaced. Any wiring that is in the path of something that will be demoed needs to be removed.
Demolition – You need to have a good cleanup crew that is willing to go in and take on a dirty project. Once the house is cleaned out and the electrician and plumber have done their thing, begin tearing out the cabinets, walls, counters, etc., that you want to replace. Afterwards bring in a cleaning crew to sanitize, rid the house of pet odors and clean up the yard.

Stage 2: Rough Structure – Most of this work will be done above ceilings, below floors or in walls. Be on-site for as much of the work as possible, and keep a close eye on the cost of materials and labor.

Rough Plumbing Under the House or Foundation – Rough plumbing takes place when you buy a house that either has a change of layout as part of the rehab, or you’re replacing pipes. If you buy low and have confidence in your plumber, then you should feel confident about making the repairs and turning the house for a good profit.
Framing and Sub-floor – Remove any rotted wood. This may or may not involve structural work. If it does, then you’ll need to have an engineer on board as a part of the process, and you’ll need permits. Typical situations involve removing sub-flooring in bathrooms and kitchens, though porches, stoops and steps are also on the list.
Exterior Doors – Replace any doors that are damaged. Know what the codes are for exterior doors in the area of the subject property, and buy accordingly.
Windows – Replace those windows that need replacing. This can be a money item because it’s not just the windows, but the cost of installation and the potential repairs to the walls, casing and trim. But by strategically placing new windows, you can amp up a standard rehab project.
Siding - Consider adding siding if you’re in an area where you’ll get a good return on your money. Otherwise, paint the exterior…but do one or the other.
Exterior Trim – Window sills, window trim, eaves, door trim, corner trim and the fascia and soffit.
The Roof – When inspecting a roof, look for curled, faded or missing shingles. Note how many layers of roofing material are on the roof. Ideally, two layers, maximum is acceptable. Pay attention to any weird angles that may indicate that the roof decking is rotted or slowly weakening. Work with a good roofer to get an estimate of costs to repair. Typical repairs include replacing shingles, flashing and vents.

Stage 3: Mechanical Systems – Stage 3 tasks can and will overlap with Stage 2, which leaves plenty of opportunity to lose track of what’s being done, by whom and for how much. You really need to stay on top of things, or costs can get out of hand.

Fireplace – Get a chimney sweep in for a cleaning and an inspection.
Rough Heating, Ventilation, and Air-Conditioning (HVAC) - Have a good HVAC specialist to check out the system – the furnace and air-conditioning unit, exhaust fans found in bathrooms, attics, kitchen, etc.
Plumbing in Walls, Ceiling and Attic – Begin running new pipe in the walls, ceilings, etc. You’ll need to have all appropriate permits for this task. Complete any prep work for new appliances.
Rough Electrical – Bring in your electrician to run wire and install junction boxes. Make sure you’re using a licensed electrician and that everything is up to code.
Insulation – Once plumbing and electrical are installed and inspections have passed, begin insulating the exterior walls.
Concrete Work – For a driveway (or apron), walkways and patios.
Septic – These can be an expensive nightmare…and before you even buy the house you need to have a report examining the septic system –– paid for by the seller, if possible.

Stage 4: Unfinished Surfaces – This begins the work that people can see. Just like in the other stages, you need to stay on top of scheduling and costs.

Drywall – Hang, tape and fix any issues with the walls and ceilings.
Garage Doors – Adding a new garage door is a great way to add curb appeal, but is not a necessity.
Gutters – Examine whether downspouts and gutters need to be replaced.
Wood Floor Installation – In certain situations we will refinish wood floors, especially if the house is located in a great neighborhood. Rarely will I install new wood floors, unless I am excited and sure by the potential of a project.
Cabinetry – Line up a few choices you prefer for your kitchens and bathrooms. Go with a cabinetry company that knows what you want, and can begin managing the process early when you’re just starting the rehab.
Interior Doors – You can either buy a pre-hung door that is attached to the jambs and has the door handle hole already drilled (along with the hinges), or buy a “blank” door and hire a carpenter to drill all the holes, etc. When installing doors, there’s a lot of trim work to be done.
Housekeeping – If you’ve done any of the above, then you’ve created a mess of pieces, parts and dust. Clean it all up. Get rid of the dust and debris, and begin prepping for the paint.

Stage 5: Finished Surfaces – This is where your vision comes together to create a product that is functional and pleasing to the eye. If you’ve managed to keep track of workers, materials and expenses, then you should be on budget to begin the cosmetic changes.

Interior and Exterior Paint – The standard paint for interior spaces is latex, which is easily washed up with water. The shinier the paint, the easier it is to clean.
Countertops – Granite, poured concrete, engineered stone, wood, ceramic tile, solid surface, or plastic laminate. Like every other decision you’ve made, you want the cost to be congruent with the type of rehab you are doing.
Tile – Install tile anywhere in the house where you want it. For basic rehabs, you’ll use vinyl instead. For your standard rehabs you’ll end up using an inexpensive tile to enhance the aesthetic of the house. For a high-end house, spend the money and use high quality materials.
Vinyl Flooring – The most common flooring used for both standard and basic rehabs…it’s cheap and easy to install.
Final Plumbing – Make sure that everything…all the lines, pipes, valves, toilets, faucets, etc., is installed correctly.
Final Electrical – Install the finishing touches (switches, plates, jacks, lights, smoke detectors, etc.).
Final HVAC – Install new vents and a thermostat, or a new air-conditioning unit outside of the house.
Finish Wood Floors – Either finishing or refinishing wood floors is the final task for this stage. Once done, you’ll want to keep traffic to a minimum as a way to avoid any unnecessary damage.

Stage 6: Final Details – In this stage, address all those details that, at times, will seem endless. Here are the small things that can add up to a fast sale at full price:

Small Additions – There’s much you can do on a standard rehab to make it seem more appealing:
- Brass kick plate for the front door
- Two-piece front doorknob
- New knobs for the kitchen cabinets
- New interior doorknobs or handles
- Brass house numbers
- New doorstops
- New switch plates
- New towel bars
- New bathroom mirrors and doors (if an upgrade is necessary)
Appliances – We’ve enjoyed consistent success using a local turn-key appliance company, or you can use Home Depot or Lowes.
Carpet – We alternate between plush and Berber, depending on the neighborhood.The color is always neutral, and the carpet is always installed near the very end of the project so it doesn’t get soiled or damaged.
Landscaping – For a standard rehab, clean the yard, edge the walkways, edge the flower beds, and do some basic trimming. Remove any debris.
Final Cleaning
Staging the House – Consider bringing a local designer (who is inexpensive) onto your team who can help accessorize the property. You don’t have to spend a lot of money to make a house attractive and inviting.
Final List of To-Dos – The list you make after walking through the house and taking note of the few remaining items that either need to be completed or are unsatisfactory.

To learn more about how you can become a successful real estate investor and put money in your pockets now, click here – you’ll get access to tons of free training materials, videos, audios and paperwork – and kick-start your investing business.

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Foreclosure, investing, Real Estate Investing, rehabbing, wholesale

17 Traits of Successful Real Estate Investors

Friday, June 3rd, 2011 | Real Estate Investing, Real estate short sales, Short Sales | 1 Comment

If you’re reading this, then you’re either in real estate investing, or you’re contemplating jumping in. Most do so because of one thing: Money. They’re tired of working in jobs that leave them fretting about the bills to be paid at the end of the month. They want time to build something meaningful, to make a difference for their family, and to create something that is theirs. In real estate, there is a lot of money to be made.

Think about the last time you really accomplished something big . . . what was it? Why were you successful? When’s the last time you nailed something that you made happen through hard work? That’s what this article is about. Why do some people find success, no matter how many times they crash and burn and why do others fade away? Everyone wants success, but few find it.

We’ve narrowed what defines success from failure to several major points. Again, this is timeless information –– it’s about the essential elements that those individuals who have been consistent achievers do to accomplish their goals.

1. Don’t Run on Random – If you want to find success in business, dedicate yourself by incorporating these five steps into each day.

Focus on your objective and create a plan
Commitment to completing the objective 100%
Execute the plan to complete the objective
Monitor & Adjust
Create a Standard Operating Procedure so it can be repeated

Create a plan, but it’s not enough to think about it, you have to put it into motion. Along the way, step out for a couple of hours each week to monitor and adjust those aspects of your plan that need improvement. Don’t constantly be reinventing procedures; figure out what works, create a system and update when needed.

2. Learn from the Best – At SREC, we offer different levels of real estate investing coaching. The top level is reserved for the best, most successful investors. They all have the traits on this list in common, so take it to heart.

3. Take Personal Responsibility – Take personal responsibility when something unexpected arises. It’s never the other person’s fault. There is always something you can do to prepare for and prevent whatever circumstances are coming. Always feel like you’re in control. With this attitude, you will never lack the ability to handle a difficult issue, no matter how unexpected.

4. Don’t Expect Failure, But Still Plan for It – Have a backup plan, after backup plan, after backup plan. Always anticipate something going wrong at each step of the process, and put a plan in place to handle it. Work smart – don’t waste time on tasks that are not revenue producing

5. Focus on Revenue Producing Activities – The only thing that generates revenue is focused action on tasks that make money. Always write down your revenue goal. Each of our top producing coaching clients understands how much they need to make each week to hit their monthly number.

6. Write Down Your Revenue Goal – When you write something done, it seems to have sticking power. It’s a daily reminder that works to keep us accountable.

7. Be Frugal – Avoid spending money if it can be avoided. This is especially important when your business is young. Not only do you need to create revenue, you need to be profitable. If your expenses eat up all your revenue, then that’s not a successful venture for business.

8. Strong Work Ethic – People who are looking to be successful put the time in, make the sacrifices and build upon their successes.

9. Dreamers vs. Doers – You can have a dream, but if you’re a “doer” then that dream is really a goal –– not a fantasy. You know if you’re a dreamer if you’ve had many ideas, but none have ever been realized.

10. The Big Idea – Armchair warriors don’t go far. It’s never about the BIG idea or the great idea. It’s about execution. No matter how big your idea is, if you don’t know how to make it happen, how to bring it to life, it’s worthless.

11. Take Personal Responsibility – Take personal responsibility when you fail. With this mindset, you seldom will actually fail. Conduct yourself with confidence and do your due diligence even when you hadn’t closed your first transaction.

12. Have to Succeed – The mindset that we’ve seen our most successful clients maintain, despite whatever challenges they faced, was that they had to succeed. They always find ways to overcome obstacles, and you need to do this, too.

13. Enjoy Facing Challenges: Don’t Run Away – Successful investors like facing challenges; they don’t back down from any sort of challenge, no matter how imposing.

14. Define Success – Understand how to deal with failure, and they value this as part of the process. No one is successful all the time; failure is a natural part of achieving success. Our top performers make an effort to learn from every mistake, and they use this new knowledge to improve their business.

15. Boundless Curiosity – Always want to be “in the know.” Always be in a position of learning. Avoid coming across as a know-it-all expert.

16. Never Stop Growing – The minute you think you’re an expert on something and your ego comes out, you’re at the tail end of your experience. Why? You stop seeing, stop listening, and stop learning; therefore, you stop growing. You need to be able to see new opportunities so that you can react immediately.

17. Be Humble – Successful people don’t have to boast. They let their knowledge and action speak more loudly than any words. They know that they may not have all the answers, but it’s their secret.

To learn more about becoming a successful real estate investor, or to kick your own real estate investing efforts into high gear, click here .