REI In Your Car 98: Implementers Will Always Make More Money Than Educators

REI In Your Car 101: Green Bananas Eventually Will Turn Yellow

All things take time. But we live in a hurry-up society. If you want ripe bananas and they’re green when you buy them, you’ll have to wait. Green bananas aren’t very tasty.

Building a solid real estate business takes time. It doesn’t explode overnight. That first mailing might not bring a single response. (What a depressing thought. This is where many throw in the towel.)

So, I’m using this episode to point out that this is a momentum business…

It starts slow, then builds, and builds, and builds. I also explain not only the importance of follow-up, but I give several ideas of types of follow-up that work well.

So, don’t get in a hurry. Let those sellers ripen.

Listen and Enjoy:

REI In Your Car 110: Follow Up with Other Wholesaler’s Old Leads

I love talking with my coaching students and keeping up with how they’re doing. One of my students, Gavin, reminded me of what he did when he first got started — when he had time but no money. At least, no money for bigtime marketing. His strategy triggered my thoughts for this episode.

I’ve mentioned in previous episodes about how lease option deals are prime for using other investor’s throw-away leads. Well, Gavin approached other investors at his local REIA meeting about giving him their old leads. Because he had time to call them but no money for marketing, and these investors had money for marketing but no time to call the leads. He offered to call the leads and split the profits of deals that came through.

What a great plan for a newbie just starting out! Especially a newbie with a low budget.

Which brings up yet another subject and that is about competition. Time to stop looking at other investors as competition. They can be your partners! And I’m explaining the process.

I also share a little about the fact that we are testing a brand-new auto-dialer system. But more on that later.

REI In Your Car 100: Late Night Thoughts on the Extreme Freedom Live Event

I’m sounding a little weary in this episode…

Weary and excited all at the same time. It’s about 2 a.m. and I’m driving home from the airport after having attended Sean Terry’s Extreme Freedom Live event in Arizona.

I have so many emotions and thoughts after being around all that excitement and energy. I enjoyed meeting new people and hearing their stories.

And especially meeting my buddy, fellow investor and REIM podcast co-host, Alex Joungblood, in person for the first time. I know, right?!

Events like these are both humbling and fulfilling.

The most important point here is that these events can be totally life-changing. Just one idea, one concept, one new system can change your business and take you up to the next level. Plus, you have the possibility of meeting your potential future partners.

It’s worth all the time, effort and expense it takes to get there.

REI In Your Car 99: Dig the Well before You’re Thirsty

Dig the well before you’re thirsty. What’s that supposed to mean?

If you’re scratching your head at the title of this episode, it’s yet another concept that I took away from the recent Mastermind group I attended. (The group is called Collective Genius.)

The reason this admonition resonated with me is because I was guilty of this early on in my investing business. I was guilty of starting out right… but was not finishing well.

I did well in ramping up my marketing, then I got a few deals, got busy with those deals, felt comfortable with the incoming cash, got lazy – and slacked off on my marketing.

All of a sudden I woke up and my well was dry. And I needed money. Get the picture?

I was thirsty, but now I was forced to re-dig the wells. Not a good situation. Learn to dig the right way in today’s episode.

REI In Your Car 98: Implementers Will Always Make More Money Than Educators

I’m always pumped when I come back from a Mastermind group meeting. The one I just attended was in Florida called Collective Genius. Innovative ideas are always plentiful at Masterminds, and I come home energized and excited.

The title of this episode was something that was said at this Mastermind meeting. The point being that while learning is important, it’s in the doing that things get done. Oftentimes, investors get stuck in education mode, where they think that one more course, or one more webinar, is going to enable them to get more deals.

Not so…

Think about the 80/20 rule.

Assess what your most effective 20% is producing. Whether it’s in your marketing, making offers, negotiating or closing deals… this is what can be and should be implemented.