What is the problem with Newbie RE Investors?

I get few PM from new investors from all around every day to start investing in Real Estate. As a mentor, I am always open and try to start working with them. But I see few problems/issues with newbies.

Everyone is different but I like to categories newbies in 3 ways, Organized but Worried, Pumped up but not Organized and finally Organized & Motivated. I see whole lot of people in the first 2 categories than the last one.

Guys I am not here complaining, don’t write me off already. I am here to play devil’s advocate role guys!!

I am sure everyone want’s to be successful in their life. Everyone has the same goal to be make few extra dollars to save for future and eventually retire well or may be get out of the current job. But it’s not easy making things happen while you are working 12 hours a day. I get it and I am in the same boat but I think that’s not the reason for the people in the first 2 categories to fail. It’s just no proper guidance, time management and follow through on your goals.

SET YOUR GOALS AND PRIORITIES

First thing first, Write down your goals and priorities first and put your mind towards it. I know everyone likes to have it in our head. Get it out of your head and put in writing anywhere. Whether it’s white board in your bedroom or Evernote in your phone. Just put it out there and put a date on it. Doesn’t have to big para

GET YOUR GUIDANCE

Don’t hesitate to ask for help. There are so many investors out there who are willing to help. Don’t pay hefty fees to find a coach. I have heard horror stories some one writing $25k just to get guidance. DON’T!!! May be Tag along with Investor buddies. Peer pressure is great tool to get you motivated. You don’t have to be alone in this roller coaster ride. Find a investor buddy and try to touch base and work together.

PLAN AND TAKE ACTION

As they say, “Goal without an Plan is merely a Wish” and “Plan without proper action is just a Dream”

I know you might have seen this quote many times. You just have to accept the reality. Plan your goals and take ACTION, MASSIVE ACTION if possible or just smaller action every week/day. Keep at it. Do the numbers every day, I do it every day just by going to MLS. Visit the properties and make offers even though you won’t get it. Just need to keep working on it.

I didn’t meant to bore you but many don’t do these things. They just attend few meetups and post few messages and make few connections and vanish for a while and time flies and after few years, they think about it again.

GPA – GOALS, PLANS AND ACTIONS – What’s your GPA? Make one, Just do it and Keep at it !!!

Hunters Park Flip Project – SOLD for 20% ROI

Many RE Investors were following our progress on this Flip Project. We successfully sold this flip property for the price more than we expected. Below are the numbers,

Acquisition Cost – $90,500
Total Rehab Cost – $18,500
Total Holding Cost – $2250
Total Sales Cost – $9000
Sold Price – $143,500
ROI – 21%

Our next flip property is getting acquired and closing by this week and plan to start the rehab next week. We hoping for quicker rehab in this property due to the property condition. We got some estimates from General Contractors but we decided to do with the help of individual contractors since the margin is low. Will keep you all posted on it.

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Join us 1st Meeting of DIY Real Estate Investors Group

DIYREI

Where:2427 FM 1092 Rd · Missouri City, tx – Shipley Donuts Shopping center, Next to Dollar Tree

When: 1/25 – Thu – 6:30 – 8:30 pm

Topics: New Prediction, Goals, Actions & Property Analysis

Join the meet up group and attend the meeting every month.

Do It Your way Real Estate Investors

Sugar Land, TX
16 Members

There are lots of Real Estate Gurus out there teaching about Real Estate Investing all day long. But at the end of the day YOU are the  one who had to take the initiative and …

Next Meetup

New year, REI Plans and Goals & 2018 Predictions

Thursday, Jan 25, 2018, 6:30 PM
4 Attending

Check out this Meetup Group →

Have you filed your Homestead Exemption?

Happy New Year everyone!

Hope you all enjoyed the Holiday Season with your families and friends. If you bought a dream home last year, hope you had the first Christmas tree with lights decorating around your new house.

It’s time of the year to remind new homeowners to apply for your Homestead Exemption. You can apply for it anytime between January 1st – April 30th. To apply for a Homestead Exemption, you must be occupying the property as your primary residence on January 1st of this tax year, and have no other residence that you are currently claiming as your Homestead. If you do move out of previous residence, you need to remove the homestead or making this new residence will automatically remove it if it’s same county. If not, please send the letter to that county and remove it.

To apply for the Residential Homestead Exemption, fill in the application found in the county websites and file it with the district county where the property is located.Below find the phone number and website links for various County Appraisal Districts.

Harris County 713.957.7800 www.hcad.org
Montgomery County 936.441.2186 www.mcad-tx.org
Liberty County 936-336-5722 www.libertycad.com
Fort Bend County 281.344.8623 www.fbcad.org
Waller County 979.921.0060 www.wallercounty.org

If you have questions or need more information, call your county appraisal district.

Wishing everyone a great year ahead!!

Om Realty Group Team

Flip Project is now on the Market!!

We were on schedule to complete our flip project before Harvey derailed it. We finally able to finish all the renovation and put it in the market. It’s now looking for a proud owner to make it home. Check out the pictures and visit our har.com listing for more information.