Step By Step Guide to Buying Real Estate

In a previous post I said that I explained to someone how to buy and sell a property, and they made a profit of $24,000 following my instructions.

Today I was looking around on the internet and found a site that sounded interesting, with step by step guide to buying real estate.  The steps were:

1. buy a house


2. fix it up


3. sell it

I thought this was kind of obvious that person didn’t know much about real estate, so I decided to do my own step by step guide to buying real estate.

I will include the details of exactly how this person made the $24,000 since it is fresh in my mind.

Bob was at a real estate seminar I went to and he looked like a hard worker who was getting no where.  He was trying to talk a friend of mine, who happens to be a millionaire, into selling a house for around half price.  

The problem with this is Bob had a very low probability of his request working.  I gave Bob credit for trying, but explained to him that he needed a plan.  One that had a much greater chance for success than his current one.

He said he was interested and I agreed to help him.  

His first major problem was that my friend had almost zero motivation to sell a house to Bob, so asking was a real waste of time.

I explained to Bob he only had so much time before he was going to burn out.  Everyone starts out with X amount of time.  If you waste all your time before you complete your first deal then you’re done.