Know the two most important real estate investment lessons ...

I am a 27-year old Utah investor that has been involved in the property investing business for nearly seven years. I started in investing after I finished my studies in college. I learned so many things in my first try investing in rental property but unluckily was not that very successful. I met a mentor in college. This person owned many real estate investment properties all over the town and he was the one who taught me some valuable lessons and everything about real estate investment. I did not realize at that moment that he was setting me up to a path that would affect my family and finances for the rest of my life. Here are the two most valuable lessons :

1. Lesson #1 ? Avoid two things that can make you lose money in real estate

According to my mentor, you can lose money in real estate in two ways: The first is to sign your name to debt. The second way is to give someone a big check (out of your own pocket) Avoiding these things can put yourself ahead over other aspiring investors.

2. ??Lesson #2 ? Start your investing career in real estate without having enough money.

Don ?t expects to use your credit or having a bundle of money on your pocket when you go into real estate investing. The reason for this is that when you don?t use your credit or money you will learn great techniques that don?t require these things. He compared it to a house pet and a wild animal. A wild animal is the more determined and stronger because he has no choice but to strive in order to survive in the competition.

I initially did not think they were right when I heard these lessons. I thought that my situation is different from him. But after working in real estate for how many years I honestly can say that these lessons have essentially helped my business to grow together with my career.

The author is a part owner of Ogden Utah Real Estate, an investment company in Ogden Utah. We specialize in buying Ogden UT homes for sale on terms.

See more real estate news and articles at: REAL ESTATE PENGUIN

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Source: http://nasdaqtradingnews.com/2012/02/06/know-the-two-most-important-real-estate-investment-lessons/

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