who want to be millionaire and make money with real estate options_25

_{As I alluded to in the introduction to this chapter, real estate options are definitely}

_{not for dummies. To make it as a profitable option investor, you need to}

_{possess an imaginative, analytical, and creative mind. First, you must have the}

_{imagination to be able to visualize various types of properties being put to a}

_{myriad of different uses. And then you must be able to put an option deal together}

_{from scratch that makes financial sense to all of the parties involved in}

_{the transaction. Finally, you must be creative enough to package the property for}

_{maximum resale value and market it to a targeted group of prospective buyers}

_{who are willing to pay your asking price. Granted, this is not rocket science, but}

_{you will not get very far as an option investor if you have no imagination, cannot}

_{solve problems, and have zero creativity. Nowadays, too many people fall into the}

_{trap of mistaking education for brains. I know of a certain Harvard Business}

_{School graduate who f launts his MBA degree every chance he gets, yet he has}

_{pretty much been a f lop as a real estate investor. He apparently does not have the}

_{temperament and mental toughness and just cannot hack it in real estate. On the}

_{other hand, one of the sharpest real estate minds that I have ever encountered}

_{equivalency diploma. The thing that this real estate whiz kid has over most other}

_{people who are better educated is that he is constantly thinking two moves ahead}

_{of the other party in a transaction. And he has an abundance of good oldfashioned}

_{common sense. In other words, he has the good sense to know that}

_{when you buy an option on a piece of property, you are also buying an option on}

_{the property's location. So, he never gets sucked into buying an option on the}

_{best property in a bad area.}