5 Killer Principles Seasoned Investors L...

“How do I break into the real estate investment business?”

If I had a dime… well, you know the rest.

I’ve been in this business for (eh-hem) longer than I care to say, and I’m finally in a place where I can work whenever I want from wherever I want. People see this and, naturally, want the same.

But becoming financially independent and creating the life that I want for me and my family didn’t happen overnight, and it absolutely didn’t happen without lots of trips, falls, broken bones and scars along the way. (All figuratively speaking, of course, it’s not like I was roughed up by an unhappy desperate, motivated seller.)

I Once Was Lost, But Now I’m Found!

Hey Moguls, Cody Sperber here…

During my rookie years, I wondered aimlessly and felt my way blindly through the world of investing. I joined my local REIA, I networked, I read books and even got myself some fancy-pants business cards.

In short, I did all the right things.

Or so I thought.

Truth be told, I had no idea what I was doing until I lost money on my first two deals.

But then something remarkable happened, and I not only gained focus and direction – I gained momentum – by going old school.

That’s right – I surrounded myself with professionals who had been in the business for years and years, and I learned from their mistakes and successes and wisdom. Most importantly, I discovered their common “profit formula” based on 5 principles to success, and I began applying them to my own business transactions.

And the rest, as they say, is history.

Principle #1: Live Debt-Free

The mentors I mentioned above, the real estate “crooners” (if you will) didn’t wear designer clothes or drive fancy cars. Nope. They looked like average, ordinary guys, because that’s the way they chose to live.

They understood the value of spending to live NOT living to spend, and so they lived debt-free. They spent money only on investments that would generate cash flow, which leads me to the next key principle…

Principle #2: Know that Cash Flow is King

Lots of these guys were wholesalers like me, but most of them invested for long-term wealth. They were patient and wise, and they knew that getting ahead in this business meant owning rental properties that they would eventually own FREE and CLEAR.

cash-flow They structured deals with amortized loans, and they believed in the fundamentals of investing.

They were focused on numbers – not emotions – and if there wasn’t cash flow, there wasn’t a deal to do. Period.

Principle #3: Stay Laser-Focused

Eye of the tiger baby, eye of the tiger.

As entrepreneurs, we are natural opportunists who become easily distracted and enticed by “shiny new toys” (so to speak). But my old school friends knew better...

They focused solely on investment strategies that worked, and they were disciplined enough to answer the door only when cash-flowing opportunities knocked.

Principle #4: Recognize that Lunch Isn’t Free

If it sounds too good to be true, it probably is. So walk away.

Like the wise guys before us, wake up every day with the mind of a hunter, not a gatherer.

Don’t be wowed by investing trends, guarantees and flash-in-the-pan investment fads. Stick with the tried-and-true basics of real estate investing, so you can reach your goal of financial freedom.

Principle #5: Understand that Your Network IS Your Net Worth

You can’t go it alone.

So understand that to be successful, you need to surround yourself with a network of superstars who will advise you, bring you deals, lend you money, pat you on the back, tell you when you’re being a jackass, collaborate with you and celebrate successes over burgers and beers.

Build your power team – an army of elite who will have your back, who will grow with you and who will ultimately help you achieve massive success.