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7 Mistakes Every Real Estate Investor Makes And How You Can Avoid Them

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What sets truly successful investors apart from those whoare only moderately successful or ? worse ? those who prematurely pack it inand decide to give up on real estate investing altogether? Mistakes do it every time. However, all investors are prone tomistakes. The key to moving forward isrecognizing those mistakes and working proactively to keep them to a minimum. Here are some of the most common mistakes ?and how you can avoid them:

?       Treating real estate investing as an unusualhobby ? Real estate investing is serious business. Fortunes can be made in real estateinvesting, so treat it seriously. Get abusiness card and distribute it. Successful investors pass business cards out like Halloween candy. In addition, don't neglect to establishyourself as a serious investor. Set upan LLC, get a Federal Tax ID number and open a business checking account. You can survive with a personal checkingaccount, but doing so screams ?amateur?. Be professional and take the steps necessaryto prove that you're serious about your success.

?       Thinking that your need for education ended withyour first property purchase ? Your need for an ongoing real estate investingeducation is as real as the needs your physician or your children's teachers havefor ongoing education. It keeps youup-to-date on strategies and techniques that you otherwise might never hearabout.

?       Thinking the Internet is a passing fad ? For toomany investors, being steeped in the ?old? way of doing things is costing youmoney, profits, and deals. 92% of allsellers begin the sales process online. If you don't have a website, you're severely restricting your options ?and your cash flow. If you have anartery with a 92% blockage you're a prime candidate for a stroke. Don't do this to your business. Solve this problem by visiting and stepping intothe 21^st century.

?       Ignoring your business credit file ? If you have a pulse you know you have acredit file, but did you know you can build business credit and expand youropportunities? Separating your personalcredit file from your business credit file can help you to more quickly takeadvantage of opportunities, especially if your personal credit is less thanstellar. Another benefit to working tobuild business credit is that all business creditors don't require a personalguarantee by you, which means that you won't be personally liable for all ofthe debts of your business. An addedbenefit is that you might be able to get better terms for a real estatetransaction with your business credit than you could secure with your personalcredit, and it won't affect your ability to buy a new car when you need one.

?       Thinking real estate agents and brokers are for?uneducated investors? ? A good real estate broker can be one of your bestfriends. The key is finding one whounderstands your investing strategy and what it is you're trying toaccomplish. Sure, real estate brokerscharge commissions, but if the value of what you receive is greater than thecost you'll be money ahead ? and it will be reflected in the value of yourportfolio.

?       Being secretive about what you do for a living ?Let everyone know that you're a real estate investor. Everyone. From your accountant to your veterinarian, it's critical that you let asmany people as you can know that you're actively seeking property. The current credit crunch has some unlikelypeople in a world of hurt financially. Most people either know someone or know of someone that you might beable to help out of an embarrassing and time-sensitive situation. Your stock in your community will go up ifyou can help a friend or even a family member of someone in your sphere ofinfluence. That can pay off dividendsnow and in the future, so don't be tight-lipped. Get the word out!

?       Hiding from the press ? You may not think thatwhat you have to say is noteworthy, but your local media may disagree. Newspapers and TV stations are always on thelookout for interview targets and sources for national news stories with alocal spin. The press won't come beatingdown your door ? at first, but once they're aware you exist and that you are anintelligent, articulate interview subject, they might. Get the process started. Send a reporter an email explaining a realestate-related concept or principle ? keeping in mind that it has to have alocal spin. If you're feelingparticularly bold, issue a press release.

Whileit's possible to have some success as a real estate investor even if you makesome of these mistakes, why would you want to? It doesn't take much to set yourself apart from the crowd and increaseyour visibility and your credibility. The fewer mistakes you make the better off you are. Go ahead, correct these mistakes that manyinvestors make and free the entrepreneur that's struggling to rise to thesurface. It's worth the effort. Go ahead, give it a try!

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Charrissa has sinced written about articles on various topics from Property Investment, Real Estate and Bankruptcy Law. Charrissa Cawley offers accurate and proven strategies to investors of all different levels and is the founder of www.reiconferences.com, one of the fastest growing real estate investment training organizations in the US in addition to www.rewexclub.com ,. Charrissa's top article generates over 27100 views. to your Favourites.

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