If you want to win a million dollars in real estate, all you have to do is flip 50 houses that bring you $20,000 each. Making those 50 deals is a numbers game. You will have to look at a batch of houses before closing a single transaction.

For every 100 foreclosed homes you research, only 10 will be worth investing in. Of those 10 worth investing in, you’ll really only end up making offers to buy 3 of them. Of those 3 that you make offers, you could I just end up buying ONE from them. You’ll face 99 no’s before you get to 1 yes. Never become emotionally attached to any deal. That’s the “tough love” aspect of the foreclosure investing business.

That means to make 50 deals at $20,000 net profit each, you would have to look at 50 x 100 = 5,000 houses.

Wow. When you put it in perspective like that, it doesn’t seem so hard, right? All you have to do is research 5,000 houses, find the best 500 of them, make offers on 150 of them, and end up closing on 50 of them. Where will he get the money to buy 50 houses, since he can barely pay the mortgage on his own home? Simple: You will use other people’s money. Here are some sources:

• Hard Money Lenders – Do a Google search on this term and you will find tons of them. These are private investors who are willing to lend you money for real estate projects at a much higher interest rate, based solely on the equity in the home and not your own credit.
• Private Investor: Again, do a Google search on “private investor” or “money partner.” Or join a real estate investing club in your local area. Someone there will have connections to a private investor who would be willing to lend you money in exchange for a percentage of the profits.

So that’s all there is to it. It sounds simple when you break it down into simple numbers like this, but obviously the biggest obstacle to your success is your own mental attitude. If you truly believe you can do it, and are determined to do it, and are not afraid of rejection or failure, realizing that every “no” is one step closer to “yes,” then you will succeed.