April 01, 2015

Beginners Advice.

We get asked all the time from people all over, “how can I get involved in real estate and start making money today”? Most people are simply looking for us to reveal the shiny object that gives them overnight profits. Like anything else in this world, there are no free rides (but there certainly there are short cuts).

There are many principles you will need to acclimate yourself to begin your new successful adventure in real estate (you can’t just take a helicopter to the top of Mt Everest-you’ll implode) but the most valuable source to getting into real estate fast is to focus on the GOLD!

You always have to be searching for buyers, sellers and private (or hard) money lenders. These are at the top of every successful investors contacts, to do’s and “find more of” list. You can have the greatest websites, flashy business cards, the best business plan but if your not putting yourself in front of active buyers of real estate,  motivated sellers of real estate and lenders on real estate your just paying for expensive entertainment and advertising.

For most there seems to be an invisible barrier with all the “guru’s” and seasoned pro’s at the top pointing down and laughing (ask how we know…seriously) but I assure you there’s not. While yes there are some basic key strategies to having success in real estate, I see many people turning everywhere (looking for that magic pill) to find out “how to” flip their first house.

This concept is no different than anything else you may have ever flipped! You are simply brokering a product from a seller to a buyer and making a handsome fee for doing so. Here are a few key principles that have catapulted our income over the past 175+ houses we have done.

•  Relationships are everything-You simply don’t borrow $100,000 from a stranger, barge into a sellers house and contract it at the price you want or make one random phone call and sell the house for more than you bought it for. Think about when you buy a new car! Most people are not driven by price these days. They do business with people they know, like, trust and feel like they are apart of something. I once bought a property for $7500 and the seller told me about the other offer from a rude investor who offer $11,000 and they declined his rude offer! Become an attractive person who looks at every situation through the eyes of a “doctor”. You’re here to provide a solution. “Help enough people get what they want, and you will eventually get what you      want” -Zig Ziglar

 

•  Develop a system for consistent, automated leads– The sooner you can set up systems that bring in quality (the quantity model is slowly dying) leads to fill your pipeline with, the faster you will be making money in real estate. There are too many products and systems available for me to digress into which ones are best (I go over many of these free resources in our Fearless Flipping ecourse) but I have found that dealing with REAL people who are in the business of real estate every day of their life are the best resources for getting leads. Again, people do business with people they know like and trust, so if you have a sour attitude or you plan on making a practice of undercutting everyone, you need to make a LOT of money fast because you will be black booked from doing business (<—-but thats not you right?) Download your special mindmap we created to help you stay focused on your lead funnel system. Real estate is much like the auto industry. Once you convert your leads, send them through the “assembly line” and let each department do their job and get back to printing money!  “As to methods there may be a million and then some, but principles are few. The man who grasps principles can successfully select his own methods. The man who tries methods, ignoring principles, is sure to have trouble” – Ralph Waldo Emerson

  

•  F.O.C.U.S- Follow One Course Until Successful! If your anything like us, you are ready to fast-track your way to prosperity. Not just in real estate (because truly, this is just getting the money side of success out of the way), but health, personal improvement, positive attitude, influence, sales, relationships and everything that comes with living a truly better lifestyle. But you have to focus. Know your goals, what is most important and focus on working toward achieving that goal every single day of your life. Know what you can control and what you can’t. Focus on what you are able to control every single day of your life. Don’t get sidetracked with the newest way to wealth. You’re on it!  As you move ahead and make progress (money that is), instead of taking a vacation, take a business building seminar (and let your family enjoy the vacation), work on becoming the authority through marketing skills, article writing, giving local presentations, then get back to developing the system that keeps your pipeline full. As you grow, you will develop relationships that allow you to do a little less of this and a little less of that. Before long, you are ready to step outside of that automated business and grow into something larger. But until then, “The elevator to success is broken, you’ll have to use the stairs, one step at a time” Joe Girard -Guinness Book of World Records No. 1 Salesman in the World (who we were fortunate enough to interview and get a first hand lesson on the principles of his success!

These are the most crucial factors that we would focus on if we had to start all over. Start by learning the basics, make a little money, invest in yourself and start unsubscribing from any email that sidetracks you from getting to your goal (except ours). When we asked Joe Girard what his secrets to success were, he responded with a laugh “there are no secrets, find your passion and get your ass to work”

 

Get your mindmap here

 

P.S. Maybe this should have came first, but the other principles are what get you results. You have to make your mind up that you are going to succeed in real estate. You are not going to quit. There will be set backs and disappointments, but you have to set your mind on prevailing. Break through the mental barriers and watch yourself grow enormously when you have that breakthrough. Your mental mindset is the GPS roadmap to success and you have to constantly remind it of your ultimate destination, if not, it gets off on whatever exit ramps and detours it wants.

Get a Mentor.

This is the certain, absolute fastest way to get money through real estate. As Steve says, “just the opportunity a millionaire shrugs off can make you a $100,000”. Why not pay a McDonald’s wage to eat off the filet mignon plate of someone who is already doing what you would like to, experienced what your going to experience and has discovered a niche you can build off of and carve your piece in the real estate arena? There are katrillion different “mentors” out there today and more growing everyday. Check the track record and current escrows or closing statements of their “business”. Make sure they are verifiably currently investing. The best teachers primarily do real estate. If you would like to discuss how you too can find, fund, fix and/or flip 225+ houses (or just a few BIG ones) contact the office of Erik Stark and Steve Mills. www.fearlessflipping.com, 586-792-7355,  www.facebook.com/fearlessflipping

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