Hi Friend,
I hope you are doing well.
In today’s blog post, I am going to share with you the most important secret that all new real estate investors NEED to know.
However, before I reveal this BIG secret, Let’s take a step back and go over a few items first….
ITEM NUMBER ONE
If you are just starting out as a real estate investor, I would like you to know that investing in real estate is NOT EASY.
Many people talk about it, but very few people ever end up taking action and buying a rental property.
Over the years, I have coached and guided many people as they purchased their first rental property.
You may be surprised to know that probably 1 person in 100, ever end up buying a rental property.
Of those people who end up buying a rental property, many are under prepared or not prepared at all.
When the going gets tough, they end up selling their rental property.
They may encounter difficulty with their tenants or they may be faced with repairs and maintenance to the property that they haven’t planned for.
The conflict with their tenants may be unsettling and the best way they know how to deal with it is by selling the property.
The repairs required on the property, may cost them more than they have available. As such, they might be forced to pay for the repairs and maintenance to the property by using leveraged funds.
Using these leveraged funds to repair the property makes them nervous. They become so anxious that they end up selling the property as a result.
So as you can see, purchasing, owning and effectively managing rental property is not easy.
However, it is not that hard either.
It is not that hard if you:
Never sell you property!
This indeed is the number one secret that you need to know.
If you never sell your property, you win as a real estate investor.
From the time in which you purchase your rental property, there is a good chance that you may face conflict with a tenant or have to perform unplanned repairs and maintenance on your property.
That is a given if you are a real estate investor. These things are going to happen. There is no avoiding them.
The reality is that many people will sell their rental property when things become difficult.
They key thing for you to remember is to never sell your property.
That is the number one secret to buying rental property…
Never forget that…
Happy Investing!
Neil Uttamsingh
ps: If you are interested in buying your first rental property, sign up for the First Rental Property Newsletter by entering your name and email address in the top right hand corner of the blog. If you do, you will receive tips and tricks from experienced real estate investors on how to buy your first rental property!
pps: I am a Licensed Realtor in Ontario and I help people like you buy their first rental property everyday! If you need help purchasing your first rental property or your next rental property, write to me at NEIL@FIRSTRENTALPROPERTY.COM. I will help you negotiate the best price, terms and conditions on your rental property. Buying in the US? No problem! I will refer you to one of my trusted partners. Happy Investing! 🙂
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