Writing out your goals and setting an action plan are critical steps if you want to succeed on the path to financial freedom.  It’s not enough to think to yourself that you’d like to do 5 deals this year.  That’s not a goal, it’s a dream.  You need to write it down and then break it into the necessary steps to achieve it – that makes it a goal. 

It’s been proven time and again that people who have written goals and review them regularly are far more successful than those who don’t. 

For more information on getting started with an action plan see chapter 18 of my book, Investing in Real Estate with Lease Options and Subject-To Deals.

Here is a sample ad: 

Gorgeous, smaller 1 bedroom apartment, in hip neighborhood, perfect for young couple without children. $900/month…

Sounds pretty benign doesn’t it?  This is based off an actual case in which the owner was sued and found guilty of violating Fair Housing Law.  Stating that the apartment was perfect for a young couple without children discriminates based on familial status and age.  The owner maintained that he wasn’t trying to discriminate.  He argued that he was pointing out to potentially interested parties that because the apartment was small it would be too crowded for a family, not that he wouldn’t have allowed a family to live there.  Nevertheless, he was found guilty.

Fair Housing Law is enforced VERY strictly and the reality is that it’s quite easy to stay in compliance.  Just make sure that you do stay in compliance because the penalties are stiff. 

For more information on fair housing law see chapter 12 of my book Investing in Real Estate with Lease Options and Subject-To Deals.

When markets are down Realtors™ begin to have a hard time selling their listings and they get desperate for commissions.  And at the same time the sellers begin to get desperate to sell their homes.  This is a FANTASTIC time for you to step in.  Once you explain to a few agents how you can help them and their sellers you’ll create a pipeline of new deals that they’ll feed you.  And the best part is that you can cherry-pick the ones you want. 

You should literally think of Realtors™ as your best source of deals in down markets. 

For more information on getting Realtors™ on your team see chapter 10 of my book Investing in Real Estate with Lease Options and Subject-To Deals.