Investors Tool Box
I am always being asked. "Doc what advice can you give me that will help me with investing. What tricks of the trade or inside tidbits can you share with me?? The best answer is you need to develop a "toolbox".
OK...Hey Doc..what do you mean "Tool Box". Okay...let me explain it ad tell you the 3 important areas that make it up.
1) Mental tools: This is the part of the tool box most of us use the most. It is all about how we think about investing. Are you a outside the box type of thinker?? Or do you follow a set program to help guide you in your investment choices? It is how your brain reacts to the idea of a new investment...the mental aspects that make up the checklist in your head.
It is the results of the information you have taken in about investing.
IMPORTANT ELEMENT. While we all know that a zillion books have been written about investing. It is important to understand that you MUST have some knowledge from that book...WHY? Because if you understand what other investors are reading?it actually makes it easier to work with them since you understand where they are getting their basic tactics and understanding from, that helps steer them to the investments THEY are making.
2) Online tool box: This is one of the most over looked elements...when I say over looked I am not referring to being not utilized...but more to the fact it is not utilized to its overall potential. For example do you have one site you go to more often than not for investment information? If so why? Your answer is most likely because they have the best info I can use. This maybe the answer however, a little side note to this. Most of us get some sort of tunnel vision thinking that one or even a few sites will cover us for all the info we want...but in all honesty we normally close down other avenues of "information input" when we do this. How do we get around the "Info input" shut down???
Ok so how do you avoid Info input shut down? You have to open your tool box up to get some fresh tools.
All you do is create an another email and use it to collect eamil updates from various websites. these are going to be websits that will add you to an emailing list and send you any updates/newsletters they send out.
Now dont be to hasty and unsubscribe after the first email. More often then hot the newsletter/updates dont deliver the "meaty info" in the begining...more often then not it comes as a series of newsletters. Look for Investment clubs that offer news letters as well as blog sites, news sites, etc. Any reference sits you can find I recommend bookmarking.
I avoid most of the "pop up" mailing lists for the simple fact that if the info they offer is any good?someone else is going to share it and it will cause enough of a buzz that you will hear about it. If that the case then go ahead and join it.
The most inportant sites to me are the ones that make the investing game easier. sites that offer me something for free or VERY little cost out of my pocket. Some websites have tools that you just cant wait to try out. (I will admit I have a few sites I visit daily just to play around on and try out the tools they offer) When you find them you will know it...once agian bookmark them.
3) Actual physical tools: these are the tools you can actually touch and use when you?re making offers, inspecting property, or doing any one of the other hundreds of things that a good investor does before making an investment commitment. Most of these tools fit in a small briefcase or shoulder bag. These tools can be anything from flashlights, small inspection tools, to calculators etc. So in a nut shell that is all there is to a tool box.
Thats about it. so go build your toolbox. pdate it often. Use it daily...and happy investing. - 23196
OK...Hey Doc..what do you mean "Tool Box". Okay...let me explain it ad tell you the 3 important areas that make it up.
1) Mental tools: This is the part of the tool box most of us use the most. It is all about how we think about investing. Are you a outside the box type of thinker?? Or do you follow a set program to help guide you in your investment choices? It is how your brain reacts to the idea of a new investment...the mental aspects that make up the checklist in your head.
It is the results of the information you have taken in about investing.
IMPORTANT ELEMENT. While we all know that a zillion books have been written about investing. It is important to understand that you MUST have some knowledge from that book...WHY? Because if you understand what other investors are reading?it actually makes it easier to work with them since you understand where they are getting their basic tactics and understanding from, that helps steer them to the investments THEY are making.
2) Online tool box: This is one of the most over looked elements...when I say over looked I am not referring to being not utilized...but more to the fact it is not utilized to its overall potential. For example do you have one site you go to more often than not for investment information? If so why? Your answer is most likely because they have the best info I can use. This maybe the answer however, a little side note to this. Most of us get some sort of tunnel vision thinking that one or even a few sites will cover us for all the info we want...but in all honesty we normally close down other avenues of "information input" when we do this. How do we get around the "Info input" shut down???
Ok so how do you avoid Info input shut down? You have to open your tool box up to get some fresh tools.
All you do is create an another email and use it to collect eamil updates from various websites. these are going to be websits that will add you to an emailing list and send you any updates/newsletters they send out.
Now dont be to hasty and unsubscribe after the first email. More often then hot the newsletter/updates dont deliver the "meaty info" in the begining...more often then not it comes as a series of newsletters. Look for Investment clubs that offer news letters as well as blog sites, news sites, etc. Any reference sits you can find I recommend bookmarking.
I avoid most of the "pop up" mailing lists for the simple fact that if the info they offer is any good?someone else is going to share it and it will cause enough of a buzz that you will hear about it. If that the case then go ahead and join it.
The most inportant sites to me are the ones that make the investing game easier. sites that offer me something for free or VERY little cost out of my pocket. Some websites have tools that you just cant wait to try out. (I will admit I have a few sites I visit daily just to play around on and try out the tools they offer) When you find them you will know it...once agian bookmark them.
3) Actual physical tools: these are the tools you can actually touch and use when you?re making offers, inspecting property, or doing any one of the other hundreds of things that a good investor does before making an investment commitment. Most of these tools fit in a small briefcase or shoulder bag. These tools can be anything from flashlights, small inspection tools, to calculators etc. So in a nut shell that is all there is to a tool box.
Thats about it. so go build your toolbox. pdate it often. Use it daily...and happy investing. - 23196
About the Author:
Doc Schmyz has done real estate deals all over the US and Canada. His free website shares Real estate investing information for all over the US. Find Real estate investing information by state
posted by X - Men @ 2:15 AM
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