Why Some People Almost Always Make Money in Real Estate
I’m writing this on the plane heading back to Northern California after a week-long trip to the East Coast …
The trip was partly business and partly R & R … although I must say, the line between work and play is sometimes blurry. It all seems like fun to me!
Charlotte was the first stop, and I was there to primarily meet with one of my mastermind groups. And I know you’re probably wondering why we didn’t just meet online. This IS the age of the internet and online access, right?
Makes sense to do that I know, but I gotta tell you … nothing beats the impact and effectiveness of doing a mastermind in person, eyeball to eyeball … where you actually get in a room, totally immersed, and laser-beam focused on brainstorming, sharing ideas, solving problems, and figuring out ways to improve and skyrocket each others business.
Think and Grow Rich
The power of the ‘right’ mastermind can be almost miraculous. Napolean Hill, in “Think and Grow Rich”, pegs it as one of ultimate secrets to creating great wealth.
In fact, within the first couple of hours, we dissected and came up with a simple step-by-step blueprint that will more than double the revenues for one of my businesses – within just 2 to 3 months. So I’m certainly a believer.
If you’re serious about creating a substantial business, joining or creating a mastermind group should be absolutely mandatory. TIP: Not everyone in your group should be at the same level as you. I believe you should also be plugging in with others who are doing BETTER than you. That’s how you truly raise your game and grow.
Another way to create this ‘mastermind effect’ by the way, is to tap into and learn from a coach or mentor who’s already been down the path you want to go. It’s another powerful form of a mastermind.[NOTE: Our own Apprentice Program, where you learn how to become one of the top money-making real estate entrepreneurs in your local area, is currently all booked up, but a limited number of positions will be opening up within a couple of weeks, so stay tuned for an announcement.
The Power of Networking
Another thing I’ve been touting and espousing over the past few weeks is the importance of networking … and how it’s the #1 way millionaire real estate investors find good deals.
That’s why, anywhere in the world I go, I typically like to hold some kind of event, workshop, mixer, or get-together, like the Investor “Meet & Greet” we had in Charlotte last Wednesday.
Whether it’s a meeting with a group of 2 or 22 … the connections, possibilities, and opportunities that open up can oftentimes be profound.
For example, here’s a deal that was discussed and currently available: a 16-unit multi-family complex that was abandoned by the developer, partly completed, for $250k. And for another $250k in development costs, you could be into these ‘brand-new’ units for less than $32k per door, in a solid area, where rents are projected to be $800-$1,000 per month.
Sound like a good deal?
That’s what you call a no-brainer my friend!
So … if you’re not making it out to our events (or anything similar), you’re really missing out on major opportunities to expand and grow your network … and the huge potential and possibilities that oftentimes present themselves.