You don’t have to be Barbara Corcoran  to be a successful real estate investor.  Hers is story is a good story though, as investing in real estate goes.  Most of us know her as a very successful real estate investor from New York City who propels and smashes dreams on the hit  TV show Shark Tank .  But she was an admitted under-achiever, making straight Ds and working as a waitress.  Her story is inspiring; taking a loan of $1000 from a friend and turning it into a real estate empire that later sold for almost 70 million in 2001. Today Corcoran’s net worth is at a reported 1.5 billion.

Barbara Corcoran

One of Corcoran’s biggest mantra’s is “Perception Creates Reality” and there are plenty of everyday people out there that have created a very successful reality in flipping houses and investing in real estate.  The key is doing your research and educating yourself on the real estate market trends.  There are tons of success stories out there.  For example Justin Pierce  a former marine, was able to buy homes for cheap, rehab the properties and sell them for a huge profit in the Washington, DC area.  Matt Kearney from Massachusetts purchased a home for just $45,000 in January. After the rehabbing was completed in April he was able to sell the home for $116,000. Nice profit.  Point is success can and is happening for people across the nation from investing in real estate inside today’s market. What all these real estate investors have in common is that they took action and stayed true to their system.

Something that is obviously fundamental to flipping houses and investing in real estate is correctly calculating the amount of money it takes to flip the property and properly market it.  Unfortunately, many novice flippers have perhaps looked over this important piece of the real estate investing puzzle and found themselves in some trouble.  Don’t get caught up in TV programs about flipping houses. We cringes when we hear those infomercials that suggest it’s an easy way to get rich.  It is imperative to make a first time visit to a property you are interested in then you can fill out your Property Repair Estimate sheet.  Great thing is this can normally be done on a lunch hour, and then you can accurately estimate what it will cost to flip the house.  Pierce notes, “The two real keys to this business are knowing what the property is going to be worth after you fix it up, which isn’t easy, and knowing your costs.”

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