Baltimore HUD Homes Blog

So you want to start a foreclosure investing business? You want to work for yourself. You?re convinced that being an entrepreneur will be fun, exciting and that you can do it. There?s no fear of failure, right? Just go for it.

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97% Of American Homeowners Overpay Their Lender In Mortgage Interest Every Month.
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Well, guess what? It’s hard $#%# work!

Make no mistake: putting together a foreclosure investing business can be overwhelming, especially if you’ve never run a business before. There are all sorts of questions that are going to come to you, like: ?Do I really have what it takes to start a new business and be successful??

I?ll tell you right now–if you’re a rookie, you have to have what it takes. Are you prepared to work hard? Are you prepared to fail and learn?

It?s going to cost money. If you?re not prepared to spend some money, don?t do it. Go back and work 9-5 for a company that?s got security, health benefits, retirement plans and all the things that Ward and June Cleaver had–a nice little home with 2.3 kids and two weeks of vacation each year. Not for me, thank you. I take one week off for every 6 weeks that I work. What does that have to do with running a business? That?s how I stay refreshed.

When you start a business, you have to assume that you?re going to be successful. However, statistics say that you will not. Approximately 80% of businesses fail within the first three years. And in the next two years, another 15% that made it past the three-year mark will fail. So you?ve got a 5% chance of the business you started being in business five years from now. So be the exception and not the rule.

Of course, being excited and ambitious is a good thing. Never be scared. Remember, FEAR is False Evidence Appearing Real.

With a small amount of effort, anybody can put together a solid business plan which when followed will produce predictable results. You don?t need previous experience in business to be successful. But if you have some experience it definitely helps. To do this without any experience you need to commit yourself to it and work your butt off for the next five years.

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How does a business start? A business starts with an idea and a business plan. When it comes to foreclosure investing, I can show you a business system that produces measurable results. If you’re serious about starting any business and getting out of the “rat race”, I’ve got three words for you: “MAKE IT HAPPEN!”

Paul Wells has been investing in foreclosures full-time for more than 5 years. For more foreclosure investing secrets like the one in this article, subscribe to Paul’s Free Bank Foreclosure - REO Investing course here: http://www.FreeBank Foreclosure - REOInvesting.com