from Salaried Employee to Rei What You Need to Know

From Salaried Employee to REI: What You Need to Know

Published On: May 12th, 2016Last Updated: May 12th, 2016Categories: Hard Money, Investment, Loan, Real Estate, REIs

When you leave a company—one that gives you health insurance, paid vacation time and other benefits—to become a real estate investor, it’s a little scary.

Okay, so it’s extremely scary.

What if you don’t make it? What if things go horribly wrong?

Everyone thinks about these things. We’re hard-wired to envision the worst-case scenario, so it makes sense that many people change their minds and avoid taking the leap.

But what if you’re one of the few who can see past the potential bad outcomes?

Here’s what you need to know about the major life change involved in leaving your 9-to-5 behind for real estate investing.

What’s Critical to Becoming a Successful REI?

An entrepreneurial mindset is a critical component of becoming a successful real estate investor. Sure, you’ll make mistakes—everyone does—but when you have the right mindset, you can overcome those hurdles and turn them into learning experiences that will make you more money in the long haul.

According to Paul Esajian, co-founder of Fortune Builders and CFO of CT Homes, successful entrepreneurs in any field have good habits that include:

  • Visualizing success. You’ll need to set goals and envision how you’ll achieve them.
  • Network with other professionals. It’s essential that you build an extensive network of contacts, including real estate professionals, contractors and others who can help you achieve your goals.
  • Maintain your confidence and strengthen your willpower. You have to be confident that you’ll achieve your goals—and when you do, your confidence levels will reach new heights.
  • Get up early. Getting up early sets the tone for the rest of the day. Statistics have shown that the most productive, successful people get up by 7 a.m.

Do You Need a Hard Money Loan in Atlanta?

If you’re looking for a hard money loan in Atlanta, we may be able to help you.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.

Read our frequently asked questions and take a few minutes to learn about the hard money loan process.