Once you learn what works, keep doing it. Do it so often that you could do it in your sleep. Then, strike out in another real estate niche. Continue that approach until you have mastered a dozen or more ways to close a transaction. That will soon translate into ever increasing income.

Three: Build a Team The fastest way to create wealth as a real estate investor is to build a solid team – your Success Team. You will need a good Realtor®, attorney, accountant, tax advisor, mortgage broker, title company, marketing professionals, and others, to help you build your business.

You aren’t an expert in every area of real estate. None of us are. As a result we need people around who can fill in our blind spots and help us grow. I’m a big fan, too, of having mastermind groups who can help us think outside the box. A mastermind groups are made up of people from different walks of life who have information and experience from which we can benefit. I have four groups I participate in. Each one is unique and fills a void.

Four: Education is Vital You have to take the time and spend the money needed to get good, solid education. Henry Ford said: "If you think education is expensive, try ignorance." A truer word has not been spoken. I mentioned that I have made most of the mistakes there are to be made in real estate. That translates into many dollars lost, literally millions of dollars. Instead of paying for education I learn the hard way which was the more costly.

Today I budget funds for seminars, books, mentors, and other forms of education. I found that I can learn from the knowledge and experiences of other people – both in person and in print. My education process starts first thing in the morning. I read articles and books that help me understand various methods, techniques, stategies and philosophy of investing. While doing my cardio I read books and articles or listen to CDs on how to more successfully negotiate, market, advertise, or how to improve my mindset. If you’ll embrace this activity you will create streams of income much more quickly.

Your education truly blossoms when you get in and start doing investing yourself. Never fear failure. You’ll learn some of your most important lessons by making mistakes and adjusting to those mistakes. You’ll learn from you success, too. I accidentally learned important lessons when I built my first home. I learned I could make the equivalent of two or three years salary by building a house and living in it for a year. You will learn some of the same kinds of lessons.

Five: Make Mistakes I’ve touch on this already but its important enough to have its own point. You have to make mistakes. It’s okay to fail. If I don’t fail at something everyday I don’t think I’ve learned too much that day. Besides, if you think you have to know everything, and know it perfectly, you’ll never do your first deal. You’ll keep waiting, and waiting.

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