3 Tools ALL Real Estate Investors Need

"Doc what advice can you give me that will help me with investing. What tricks of the trade or inside tidbits can you share with me?? " My response is normally…"What is in your tool box?" Let me explain what this question means exactly

Now before you go nuts scratching your head, let me define the areas of the tool box. The tool box has three areas.

1) Grey matter tools: This is the in your head part of the tool box. It is the manner in which you think about investing, the guidelines you use to select investments as well as ALL the information you call on every time the prospect of an investment even shows its self. It is the investment filter you have developed for yourself.

It is the results of the information you have taken in about investing.

THINK ABOUT THIS: Every book store has some vast collection of books on real estate investing. You should take the time to add them to your reference library at home. Why? Because if some guru writes a book on RE investing that sits on the national booksellers ten best for 35 weeks…what do you think the chances are some one you will deal with has read that book? If you know what factors some one uses to make a decision…you have a better chance of influencing WHAT THEY DECIDE.

The E-tool box: Your online tool box. What websites are you useing online over and over. Most real estate investors only use a few sites. I have found this can lead to a sort of tunnel vision or what I call "INFO INPUT SHUT DOWN".

Ok so how do you avoid Info input shut down? You have to open your tool box up to get some fresh tools.

All you do is create an another email and use it to collect eamil updates from various websites. these are going to be websits that will add you to an emailing list and send you any updates/newsletters they send out.

Now dont be to hasty and unsubscribe after the first email. More often then hot the newsletter/updates dont deliver the "meaty info" in the begining…more often then not it comes as a series of newsletters. Look for Investment clubs that offer news letters as well as blog sites, news sites, etc. Any reference sits you can find I recommend bookmarking.

I avoid most of the "pop up" mailing lists for the simple fact that if the info they offer is any good?someone else is going to share it and it will cause enough of a buzz that you will hear about it. If that the case then go ahead and join it.

The most inportant sites to me are the ones that make the investing game easier. sites that offer me something for free or VERY little cost out of my pocket. Some websites have tools that you just cant wait to try out. (I will admit I have a few sites I visit daily just to play around on and try out the tools they offer) When you find them you will know it…once agian bookmark them.

3) Physical tools. tools we would use in the field. this can be anything from a lap top to a great flashlight for crawling under a house. (I know a ton of investors who get "EYES ON" when it comes to real estate. One of them keeps a jumpsuit in his trunk just incase he needs to dive under a house to check the foundation…by the way…the man is a millionaire several times over and is a very young 64 years old.) These are the tools we need when we need them..I am a huge fan of "dont fail me tools". Flash lights, a good go by list, circut tester, actualy mortgage calculator…etc.

So there it is..the outline to your toolbox. Build one…update it often..and USE IT DAILY.

Doc Schmyz has invested all over the US. He built a free free website shares Real estate investing information for all over the US. Find real estate information by state