Police Officers - Let Me Educate You!

This holds true whether you're a first time home buyer or an investor. I was talking with a group of seasoned investors and we were discussing "Real Estate Advantages", written by Sharon Lechter and Garrett Sutton. This book is from the Rich Dad series, if you haven't read it.....you need to! One thing that always gets a few laughs is when we start talking about the mistakes we made when first investing in real estate. The part that isn't funny is that most, if not all of those mistakes could have been avoided by properly educating ourselves.


When I say, "educate", I don't mean that you need to spend years learning the ins and outs of the market to be successful. You will be far better off by using your time to align yourself with the right group of people. Start using your network to find successful investors who can mentor you during the process. If you don't have anyone in your network, start seeking them out through referrals.

Phil Lechter and I were talking about having your first home be your first successful real estate venture. Why does this not happen more often? I know why it didn't happen for me, I didn't have the proper mentors to guide me through the process. I never looked at buying a duplex or fourplex, sure wish I would have! This can lead to positive cash flow on your first home. Some of the best deals for real estate are not on MLS. How do you find them? By finding a Realtor who is in the mix and comes across deals that may be 30% below market value and haven't hit the listing service. Now you have someone actively searching out investment opportunities for you as they come up.

Its important to be patient! The plan is to prepare yourself to buy when that deal comes up. This means having a lender that understands your financial snapshot and places your loan accordingly. This is just as important as your Realtor looking for the correct property.

Lastly, part of investing is learning. Mistakes will be made! Learn from them and apply those lessons to your next investment.

Nick Porter
Community First Financial, LLC
7575 E Redfield Rd, Suite 235
Scottsdale, AZ 85260
541-231-3040 Cell
480-305-8900 Ext: 302
www.LawEnforcement1st.com