rent a house
The world of rent a house can either be a blessing or a curse. Which one it becomes is entirely up to your perception. If you are one that constantly lets your emotions control you, real estate might not be for you. However, if you can maintain your balance in the midst of anything, you stand to do very well.
One day you may be on top of the world with multiple properties about to close. You may be thinking to yourself how easy this rent a house game is. You can't believe that you didn't get started sooner... then comes the next day. Those buyers that you had lined up the day before are now having second thoughts. They want to back out. Now you have to come up with another month's worth of mortgage payment. Now, in reality, you're still going to be fine in the long run. At the time, you might see it differently, though. The point is that real estate investment is an emotional roller coaster, so be prepared. Once you make it to the other side of the spectrum, it is well worth the hassle. You must always look at the big picture. Don't ever allow yourself to be bogged down by the details. In other words, focus on what you're going to...not what you're going through.
In real estate investment, there are basically three separate tiers of investors. Nearly all investors fit into one of these three categories. Most people start at the first tier and try to work their way up. There are no guarantees that you will ever make it to the next level. You might be a Tier 1 investor for life and that is ok. You'll still do better than if you never entered real estate. Let's look at the different tiers a little more closely.
Tier 1 Investors- These are basically the "newbies" in real estate investing. They may have pulled off a few profitable deals and they now have a taste for real estate. They have officially had their eyes opened and "seen the light." They know that real estate can work for them and they plan on becoming financially independent. They probably aren't completely confident in their abilities, but they are willing to learn. In this category, you don't want to challenge Donald Trump to an investment contest just yet... even if you feel invincible.
Tier 2 Investors- This is the next level in real estate investment skill. These investors have figured out what it takes to make a decent living in real estate. They have anywhere between $5000 and $50,000 per month coming in from their investments. They know almost all there is to know at the core of real estate investment. Many people would be completely happy at this level of investment income, but there is another step up from this. These people have increased their net worth to $250,000 per year. Life is starting to look pretty good for this level of investors. They have a substantial portfolio of properties and it is only growing from here.
Tier 3 Investors- These are the "big dogs" of real estate investment. This is undoubtedly the category that someone like Donald Trump falls in. These investors have mastered pretty much every aspect of real estate investment. They built their business from the ground up and they now have MASSIVE amounts of money rolling in. They easily make as much money as those in Tier 2, but it comes in passively. They have reached a point where they may only work 10 hours per month. This is where every real estate investor wants to get at some point. If you get to this Tier, you've definitely done your homework.
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