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Date Created: 12/21/15
Great Tips For Real Estate Success From Curt Cloyd By: Curt Cloyd – Director Personal Wealth Academy, LLC So you want to become a real estate investor? Curt Cloyd is there to help you with useful hints and tips for real estate success. In fact, there are six very important tips that nobody should have to do without. Please read on to see what these tips are. Create a Game Plan Don't jump into the real estate game with your eyes closed and hope for the best. Curt Cloyd explains that the most important thing you can do is know exactly what you want do. Also think about who you will be doing it with, how much money you will be investing, what the risks are and how you will deal with the risk. Basically, ask yourself all the questions you would ask yourself for any other major decision. Speak to an Expert Even if you have been in the game for a while, a second pair of eyes is always beneficial. Make use of experts like the ones at Curt Cloyd, who will be able to review your plan and make suggestions for improvement. You never know, you may have missed something essential, or there may be a way to make more money by spending less. Keep Your Chin Up The real estate market is cut throat. Nobody said that real estate investing was going to be a walk in the park and you will see tremendous highs, but also tremendous lows. Curt Cloyd advises you to be prepared for this. What goes up must come down as they say, but the opposite is also true. So, don't panic if there is a drop in house prices for instance, they are likely to go back up after a while. Too many people think they need to sell as soon as there is the slightest drop in the market. You may make a little bit of profit by doing this, if you are lucky enough to still get a good price, but you could make a lot more profit if you decide to stick with it a little while. So long as you are able to pay the mortgage (mainly through the rent you should be collecting through your properties), there is no need to panic. And if something starts to go wrong, make sure you speak to your banks and be honest about what is happening. They are likely to be more than happy to help you. Stick to Your Plan and Your Word When you first start in the world of real estate investment, you will have done so with a plan. You may have wanted to flip properties (buy and sell really quickly) or you may have wanted to keep properties until the mortgage is paid off. Either way, you need to stick to the plan that you designed. This is because you will have looked into all the things that can happen from the viewpoint of your original plan, so if you suddenly change this, you won't know what to expect anymore. Similarly, Curt Cloyd tells you that ©2012 Personal Wealth Academy LLC http://personalwealthacademy.com you need to make sure that you stick to your word. You have promised the banks that you will pay your mortgage on time every time, and you will need to do so. You will also make promises to your tenants, which you also have to stick to. The key to real estate success if having good tenants and you will only keep them if they know they can trust you. Which brings us to the next tip: Be On Time Tardiness is something totally disrespectful. How do you feel if someone promises to be at yours for 10am and doesn't show up until two hours later? Whether you are meeting with your co-investors, with your financial adviser or with your tenants, Curt Cloyd warns that you should never be late. You will have heard the saying that time is money and this is very true. Wasted time is wasted money. The worst of it is that you will never be able to recuperate the money you lose by wasting time. If you are late, you will lose respect and you will lose trust, which is the last thing you want. It goes back to finding and keeping good tenants and this is only possible if they trust you completely. Don't Do What You Don't Need to Do Remember the first tip: create a game plan. You need to make a plan, which includes to-do lists, and you need to stick to that plan. If you have done your job properly before you started to invest, there should be no need for any unexpected tasks or activities. Curt Cloyd explains that this is why the plan is so important. It should look at all possible eventualities. However, you also have to be realistic. You are in this world because you want to make money. You will never make money if you put personal activities before the business that you have basically started. If you have to make a choice between going out for a couple of drinks with some friends or fixing one of your properties, the choice should be clear: your friends will have to wait. It is hard, it is sad and you will certainly get to know who your friends are, since not all of them will be too happy about the fact that you will have less time for them. You must enter this world with both eyes wide open, or you will most certainly fail. It can certainly be difficult to stick to all these tips. However, Curt Cloyd explains that they are all interlinked. The old saying is that proper preparation prevents poor performance and this is certainly true. You must be prepared for everything and every eventuality. You must be willing to give up certain things and make huge sacrifices. You must be ready to have sleepless nights because you're not sure if your investment is going to pay off. That is the reality of the real estate investment world, but it is also what makes it so incredibly exciting. Curt Cloyd has used his vast amount of knowledge to form Personal Wealth Academy. Their sole purpose is to to guide, advise and nurture real estate investors so they can gain financial freedom and independence faster and easier than they ever could on their own. They accomplish this purpose by providing training on cutting edge real estate investment strategies and mentorship through expert real estate coaching services. ©2012 Personal Wealth Academy LLC http://personalwealthacademy.com
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