If you haven’t moved your business as far along as you want to, here are some quick steps you can take to start your investing. You can’t sit back and wait for that one big deal. Success is the product of applied knowledge. Success is a result of your actions. There is just something about the energy and the momentum behind actions that literally seems to attract new opportunities. If you are doing nothing, nothing happens.

1. Start making things happen so everyone takes notice. The first two years that I was in real estate I basically did nothing. I was constantly spinning my wheels. I was working hard but I was doing the wrong things. Since I had no results nobody was noticing. All of a sudden I changed my business model a little bit. I started marketing. I started doing deals and everybody took notice. Suddenly, all of them were coming to me with these new opportunities. People wanted to lend me money. They had new ideas for joint ventures.

The catalyst was the initial momentum making things happen. As you take your business into motion you will be able to take advantage of more opportunities. It’s like my friend Matt Bacak says, "You don’t have to get it right, you just have to get it going." He really lives that philosophy. I have worked with him on several business ideas and you have to hang on when you work with him because he wants to make things happen yesterday. I tend to be more conservative so I tend to study a little more or make sure I have it at least 90% right. In the end Matt’s way is faster and better. While I am spending time researching and making sure I have it right, Matt’s out there actually making it happen. He knows exactly what’s wrong and where the fixes need to be made. Matt says let me mitigate my risks, limit risks that we might have but let’s get out there and make something happen. Then make needed changes while in motion. You want to be out there making things happen as quickly as possible because you can never foresee all the different possibilities and build in all the different contingencies. You just have to get it going and then improve it while you are in motion. Get started. Learn from the experience. And then continually make improvements along the way. The key really is getting going.

2. Build a buyer’s list. Do it today. You want a list of investor buyers. If you have ten people on it get fifty. If you have fifty get five hundred, etc., etc., etc. Utilize the internet. (We’ll be talking more about that in the next issue). You can also advertise to REIA’s (real estate investor’s associations). This is a group of exactly who you are looking for. Advertise with these associations and get those people on your list.

3. Subscribe to wholesalers lists. You will be able to start seeing the opportunities that they have. If you are a wholesaler yourself you will learn what other people are doing. Find out how they are advertising, where they are picking up their properties, the kind of pricing that they are looking at. What’s working? What’s not working? If you are looking for houses, a great way to find a deal is to be on the list with the wholesalers. Start networking at your real estate investor’s association. You know first off you have to decide "what is your exit strategy?" What is it that you are trying to achieve? Go to your real estate investor’s association and network and take advantage of the offers from that group. Whether you are trying to find deals, buyers, money, joint ventures, whatever it is those people are there.

Page 1 of 3 :: First | Last :: Prev | 1 2 3 | Next