How to become unstoppable
I was having a conversation with someone a few days ago, and he asked me the question … “How do you become unstoppable in real estate?
“What do you mean by unstoppable?” I asked.
“You know … several transactions every month … able to take advantage of most opportunities, even the big ones … passive cash flow locked in place … flipping a few for bigger paychecks … leads coming in automatically.”
“And ideally, a system in place so I don’t have to work more than 40-50 hours a week. I do that already … and don’t seem to be getting ahead much!”
“Are you sure that’s ALL you want?” I said. He nods with a smile and says …“Yeah, that’s good for starters!”
Man … he wanted the whole kit and caboodle! (Is that the right term?)
Fascinating question though … which I really had to think about. There are so many things to learn, so many things to know, and so many necessary facets to becoming a success.
But if I had to break it down, I would say the “Big 3” you should constantly be focusing on if you want to become unstoppable are:
- Marketing & Lead Generation
- Raising Private Money
They’re all vital, but I would say the most ‘critical’ one is Marketing & Lead Generation. This is the Holy Grail. This is the power position.
You know that old saying “he who controls the gold … makes the rules”? Well, in real estate, the gold is the ability to find and acquire good deals … and marketing is what leads you to the good deals.
Now before you go hog-wild with marketing though, I do think there are some basic essentials you need in place in order to really capitalize on opportunity.
You see, real estate is a relationship business. And what good is it to know every marketing trick in the book … if you have poor relationship skills?
It doesn’t work. Not long-term at least.
So … if you really want to become unstoppable, here are 3 Relationship Principles I think you MUST be willing to embrace:
#1) Make it easy to do business with you
When you’re doing business with someone, why not think of ways you can make the transaction go smoother for the other party?
If you’re dealing with a seller, maybe you can give her all the information she needs to prove that you’re a qualified buyer, like your lenders contact info, or proof of funds, or a time schedule for all your inspections, etc. – before you’re asked!
Do you return all phone calls and emails promptly? Just this simple thing can set you apart.
#2) Have a strong relationship with your word
For me, this is the most important principle of them all. In other words, do you do what you say you’ll do?
I remember dealing with a particular real estate agent, who kept making promises (big and small ones) that he NEVER kept …
“Hey I’m busy right now … I’ll call you back in 10.”
“Can I call you in a couple of hours?”
“I’ll get that document to you by 3pm this afternoon.”
“I’ll discuss it with my client and let you know what he says by the weekend.”
And on and on and on. Out of multiple promises and commitments, I can’t think of one time where he actually followed through on what he said.
That tells a lot about a person. And as long as I can help it, I WILL NEVER, EVER, EVER DO BUSINESS WITH THAT PERSON AGAIN!
Or anyone like that!
Anyway, all I’m saying is … make your word matter by doing what you say. Always.
You’ll be so rare … this alone will allow you to blow away the competition!
#3) Don’t be a pain in the ass
When you’re a buyer, do you tend to call for little reasons and are always trying to ‘nickle & dime’ the seller to get a better deal? If so, then YOU just might that pain in the ass I’m talking about here. J
All I’m saying is … if you’re a pain to deal with, how eager do you think the seller might be to sell you his other properties?
Or do you think you’ll make it on the broker’s speed dial list when the next great deal comes along?
Now of course, if major unknown problems (bad roof, foundation issues, environmental problems, etc) come up during your due diligence, then by all means, you should be re-negotiating some kind of concession.
I just don’t recommend you go looking to knock the price down when you find a closet door missing.
Anyway, let me stop. I’m starting to feel like I’m on a rant.
But this really is some important stuff!
If you truly want a thriving real estate investing business, not only do you need to learn the how-to, nuts & bolts of investing, but equally important (maybe even more so) is also having: the right focus … the right mindset … and the right approach in dealing with people.