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How To Invest $1,000 in Real Estate for Beginner Investors
As I already mentioned, each stone is important. You can’t get to the other side of the creekwithout them all. But if you skip or rush your way to a stone, there’s a good chance you’ll slipand fall.But here’s another important part to remember. When you go to REI clubs or listen to other realestate investors, they tend to overcomplicate the process of getting from one side of the creek toanother. They’ll tell you that you need to know all about the second and third stepping stonebefore you get there.Think about it. When you’re standing at one end of the bank, are you focusing on the secondstepping stone or are you looking at the first? You should be studying the first. Is it flat? Howwide is it? Is there anything on it that’s obviously slippery? You don’t bother worrying about thenext steps until you have to.So, if you do follow the advice of other real estate investors and spend all your time studyingthose other steps, you will absolutely be a knowledgeable investor. But knowledge doesn’t paythe bills. What you need is experience and guts.

Let’s go back to my story for a minute. When I started real estate investing in the fourth quarterof 2007, I didn’t know a thing. My parents weren’t investors. My cousins weren’t investors. My dad drove an ice cream truck and my mom was an illiterate refugee.I was smart enough to see an opportunity. The market had crashed, the stock market was downthe tubes, and Bank of America stocks were a disaster. Everybody was running away from theflames, but I was ready to head straight in.I thought about starting with stocks but once I realized I couldn’t control them, I knew I neededto change my plan. Real estate was also crashing down around me, but something told me thiswas my chance. I already had a successful moving company that I built from a few hundred bucks into a seven-figure business, so I had some money in my pocket. But I didn’t know exit strategies or Subject To’s or wholesaling or assignments or basically anything. But what I did know was the First Stepping Stone. I knew Lead Generation better than anyone else.I had the guts to jump onto that First Stepping Stone. Then, once I was there, I studied the Second Stepping Stone. And I was able to make the leap. Then I figured out the Third SteppingStone. What I’m saying is that yes, you can go ahead and learn about all the exit strategies youwant. But if you don’t know how to generate leads, you will NEVER get to the other side of thecreek.12

One of the most frequent questions I get is, “Mike, what do I do or say when the phone startsringing?” Here’s what this question tells me. You’re thinking too far ahead. You’re letting fear take over

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