Real Estate Riches Part 2

In the book Real Estate Riches by Dolf De Roos, Dolf states that there are eight golden rules to property investment.

1) You Make your money when you buy. So you want to buy a property that's worth more at a much lower price.

2) Always buy from a motivated seller. Or a desperate seller, divorced people, homes on the market too long, someone looking to get out fast, etc....

3) Fall in love with the deal, not the property. Don't get attached to a property, it's an investment to bring in capital.

4) Never be the first to name a figure - that person always loses. You want to have the leverage when bidding.

5) Be counter cyclical. Like with stocks buy when the market is selling low, sell when the market is high.

6) Always try to buy with zero or little down. Put less down so you can get more properties.

7) Seldom Sell. Hold on to your properties, let their value increase.

8) The deal of the decade comes along about once a week. Put in the work, look for houses, find your deal.

Though I know absolutely nothing about REI, but am trying to learn, I found this book very educational for the beginner. Check out part One if you get a chance, Real Estate Riches.