Читать книгу Real Estate Recession Riches - Top 10 Real Estate Investing Tips That Don't Suck! - Cory MDiv Boatright - Страница 10

Personally, while I like to suggest wholesaling to help people get started, I am of the opinion that you’re only as good as your next deal. It can bring some great cash, and it’s a great way to get your feet wet when learning this business, but once the deals stop, the cash stops as well.

In my case, I’m focusing on getting my cash flow by buying and holding properties, renting them out while continuing to wholesale and do other deals on the side. This enables me to have a consistent cash flow every month. While cash will help to get you started, eventually you’ll understand that it’s not cash that’s king, it is cash flow. Cash flow buys me time to do what I want, and that’s spending time with my family.

Now, there are literally thousands of ways to make money by investing in real estate. When you get started, you’ll identify the niche that you most enjoy, and that’s where you want to focus your efforts. I do know successful investors that only wholesale, but they have a system in place with others doing a lot of the legwork so they don’t have to do it.

When you are getting started, it is important to think of the big picture. Think about what systems you can implement to take “you” out of the picture which will also allow the cash flow to continue. Of course, if you’re just starting, you’ll want to keep “you” in the picture to further your education. If you take “you” out too soon, then you run the risk of not being able to determine when things are going smoothly, or when something is wrong. There is a value in knowing your business, but you will eventually want to move beyond this to eventually work on your business as opposed to working in your business.