Tools in the Toolbox

Jul 30th, 20101 Comment

When I say tools in the toolbox, I’m referring to all the skills that a real estate investor needs to develop over his or her career. Everything that you learn about this business essentially becomes a tool in the toolbox that you can pull out and use whenever you need it. Some of the things that I consider a tool would be a buy-and-hold strategy to purchase properties. The knowledge about how to acquire a mortgage using lending institutions is an essential tool to fi nance your next moves. Access to the multiple listing service and skills a realtor has are also important to getting things done in this business.

Other tools are construction skills, negotiation skills, communication abilities, management capa- bilities, and QuickBooks experience. Speaking of experience, knowing how a short sale works, a sheriff sale functions, an REO works, a “subject to” gets put together, and wholesaling can be accomplished are all important tools. The point to all of this is don’t let a sector of real estate worth knowing be ignored. Make an effort to learn everything that you can about each one of these sections of doing business. Every time I go to a real estate meeting and I hear somebody talking about something I don’t understand, I always go over and introduce myself. I really don’t like anyone knowing anything I don’t know, and that brings us to our next topic.

About author:

Addicted to Real Estate–Why I Can’t Stop and Why You Should Start, by Phil Falcone, is an honest account of an addiction to real estate. Sometimes addiction is a very good thing. In this book, Phil Falcone, the ultimate real estate addict, will show you how to achieve amazing success as a real estate investor and addict: • Delve into the details of actual deals he negotiated and learn why his methods were so effective • Discover why his residential to commercial real estate strategy will create ultimate wealth • Learn how he used apparent liabilities (OCD, insomnia, and workaholic behavior) to help him achieve his goals • Why he can’t stop investing in real estate, and how you can start controlling your own financial destiny through real estate. Funny, frank and informative, Addicted to Real Estate will inspire any investor to achieve higher levels of drive and success in the rewarding world of real estate. Phil Falcone is a Philadelphia area full-time real estate investor who started in the business at the age of 23, and whose portfolio today includes commercial offices, apartment buildings, and residential homes. As the owner of Falcone Real Estate Holding Corporation, he prides himself on his non-stop real estate focus and determination, his ability to be a great professional speaker, and on his fun, outside-the-box approach to real estate.

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