The Trials & Tribulations of Becoming Financially Free ~ Part II

Following our article ‘The Trials & Tribulations of Becoming Financially Free’ we thought I’d better give you an update on what happened next….

Pam and I are writing a daily online diary for our Property Investor friends. It's tracking the purchase of our property investment journey.… 

So, I put a post about the problems of letting go of my past world and embracing the new life full time. You know, the power of network is an amazing thing and I am eternally grateful to the friends I have made via the ones Pam and I have started and joined. The feedback was truly inspirational… here are a few of the gems that people took their time to share:

Kerry said…‘Jump. You will not regret it and that £15k hole you describe will get filled with a larger than £15k plug. That's what happened for me’ 

Beaufort advised…‘Step up to that door of opportunity and it will open as it's done countless times for me before. Incidentally I had to leave fear at the door and take a step of courage or (step change) to follow my bliss. Follow your bliss, providence will come! Think of the benefits to your Reticular activating system!’ 

Ama shared…‘Nobody can tell you when to jump, but I must say I can't wait to jump off the hamster wheel. I hate my job it is very stressful and is impacting negatively on my personal life.’

Our mate Phil mentioned….‘Funny you should raise this issue Tania, Nick and I were talking after a great Tuesday with you both… and we have a plan for an extra £700 an month . And You get to redevelop you home and pay for it at the same time , £700 cash flow after.’

Now that’s interesting… they have shown me what’s right under my nose and I’m looking into it now!

Julie offered….‘What a great problem to have! I say, get yourself a coach, who will help you think this through on a higher level... hey.  I'm a coach. Would you like to have a chat?’

So… what did I do??

Firstly, I jumped at Julie’s offer to coach me through the issue, she’s an amazing person and has a spooky ability to help you dig deep and get to the nub of the issue. The main thing I discovered is, for me, not all money is equal. We have all heard of tainted ‘blood-money’, which can leave the possessor wracked with guilt because of the way it was acquired. For me I have ‘sunshine money’ and ‘ball and chain money’…. One makes me feel happy and fulfilled, the other drags me down and leaves me feeling uninspired and drained.

So, I’ve decided to pursue the ‘Sunshine Money’… tomorrow I’m having a meeting with my ‘Boss’ and by the end of it I will either be leaving the ‘job’ straight away or… either-way I will be following my sunshine money!

Eeek! … That’s the sound of a Hamster leaving her wheel!

Building Your Property Investment

As you start your real estate investing business or continue to grow as an investor you will soon learn that building a solid team is a top priority. Many people I talk to go to several seminars each year, are always reading a real estate investment book and flat out spend thousands on education trying to learn everything there is to know about real estate. All of this is great but once you have done all the training you still need to put it into action and get going on finding a real deal and getting a team together.

 One of the most brilliant things I have ever heard originally came from Henry Ford. Once upon a time he was giving testimony in court and did not know how to answer several questions about his company. The attorney asked him how he was able to run such a large and successful company without being able to answer basic questions about its operation. He responded with something similar to "I don't need to know the answers to these questions, I just need to know who to call to get the answers"

If you understand what he is saying here this should eliminate 99% of anything that is holding you back in real estate. The key is not knowing everything but building a solid investment team to give you advice or provide the services you need to prosper.

I can't tell you how nice it is to know exactly who I am going to call no matter what the issue is that comes up. This virtually eliminates stress from my life and allows me to handle any problems no matter where I am.

Here is a partial list of professionals that will help ensure your success:
· Estate Agent
· Mortgage broker/banker/other funding sources
· Solicitor (you might have several)
· Accountant
· Insurance broker
· Contractor/handyman
· Property manager

Here is a quick list of important qualification when choosing team members:

They invest in real estate- You need someone that understands what you are doing and that has experience in the industry. Just because your neighbour is an estate agent with 20 years experience does not mean that he understands investing and the different strategies that will help make you rich. People who are doing what you are doing will be the best to give you sound advice.

Care about your goals - When you speak to a possible team member see if they ask you about your goals and what it is you are trying to accomplish. Someone who does all the talking and none of the listening is obviously in the business for their benefit and probably does not care if you reach your goals or not. Occasionally Travis or I will tell a client that the deal they are working on is not a deal at all. We walk them through the numbers and show them why they need to pass. Often they get angry at us because they are emotional about the deal but will call us several months later to say thank you. Be sure the potential team member wants you to succeed and is not just trying to get a commission.

Qualified - This is pretty self explanatory. If they say they are a Realtor you may want to be sure they are. I like working with the best so often times I will ask for referrals and verify those and inquire about how long they have been in business. They best way to find team members is referrals from other successful real estate investors.

Reasonable fees - Don't be cheap but don't pay someone more than the going rate for their service. This should be easy to verify online. When I say don't be cheap I mean it, many times you will get what you pay for. There are expenses related to running this business just like any other business so be prepared to pay your team members.

Chemistry - You are not getting married here but you want to work with someone you can stand to be around. Ask yourself if you like the person and can handle spending time with them. Do you feel the feeling is mutual? You will also want to ask if you can trust them.

So, what are you waiting for... go get your team!

Article Source: http://EzineArticles.com/expert/Kevin_Amolsch/725898