What's going on everybody?
In today's video I'm going to be talking about my first year as a real estate investor and
five valuable lessons I learned along the way.
If you're looking to become a real estate investor or become a real estate agent, or
just break into the business in any capacity, it could be a little bit challenging your
first year.
In this video I basically compiled the five key lessons and strategies that you need to
know to become successful as a real estate investor.
Lesson number one, and this pretty much goes for any type of entrepreneurial activity,
anytime you're going to try to go for something to achieve a pretty big goal, you're going
to be met with tons of criticism.
You're going to have everybody pretty much telling you that it doesn't work.
I can't even count the number of people that told me real estate investing doesn't work.
People will tell you you can't do it anymore, real estate is a scam, it's all hype, you
have to have money to invest in real estate.
They'll say, "My friend tried it.
It doesn't work.
That means it doesn't work for you either."
You'll hear all types of negative responses.
Look, you don't need to argue with these people.
There's always going to be naysayers, haters, whatever you want to call them.
Just ignore people.
Me personally, it was actually pretty easy for me to ignore pretty much 99% of the naysayers
out there, but the best way of going about it I think is just to surround yourself with
examples of real estate success.
For example, you could listen to a real estate investing podcast once a day.
That's pretty easy to do.
There's hundreds, if not thousands, of real estate investing podcasts where they just
interview full time real estate investors and ask them how they became successful, what
their challenges were, what they're doing right now, what's working right now.
You want to, first of all, just surround yourself with those types of people.
The next thing you should do is almost become like a mini Tony Robbins.
You should be watching motivational movies, documentaries, having quotes of your wall,
reading books by motivational speakers like Jim Rohn and Tony Robbins, Zig Ziglar, different
people like that.
Just surround yourself with success and ignore anyone that tells you you can't do it.
Lesson number two, when you're getting started as a real estate investor, some of the top
investors I know, it took them six months, even a year, to do their first deal.
Now once you get the hang of it you start to see how there's deals everywhere.
It's not going to be a steady paycheck.
Instead of just quitting every job and just trying to do it completely full time before
you've even really done a deal, work a part time job, or even work a full time job, just
so you have steady income coming in.
Then spend 5, 10, 15 hours a week just trying to generate leads for your investing business,
because real estate investing is interesting.
You can make a year's salary in one month.
Then other times you can go six months without getting paid.
Once you get the hang of it it becomes a lot steadier than that, but when you're first
getting started I would recommend getting a part time job in real estate or holding
onto your full time job for that matter, just so you have money for marketing and consistent
cash flow.
Then once you've done three or four or five deals and you get the hang of it, then you
can quit your job if you want to.
Some people actually still just do real estate investing part time.
They might just buy turn-key rental properties or buy apartment buildings and different things
like that, but I would recommend getting at least three deals under your belt before you
quit your job.
The third lesson I learned is that you need a mentor.
I always talk about this in a lot of my videos.
Real estate investing is a very niche business.
You need someone that's been there, done that, and someone that's willing to teach you exactly
what they do.
There's real estate mentors and real estate investing coaches and different things like
that in pretty much every market.
You should definitely try to find whether it's a real estate coaching program or whether
you're listening to real estate podcasts, you should try to find some type of mentor.
A free way of getting a mentor, if you don't want to spend money on a mentor, which is
fine, me personally I recommend you do spend money on a mentor, but if you just want to
go the free route, like I said, you can listen to the podcasts, but you can also just start
sending leads to the top investor in your area.
The way that type of mentorship would work, and this is exactly what I did, I had a coaching
program but I would also just start sending leads to the top house flippers in my area.
If I really qualified the lead and I was really digging up the good leads, I'm not just sending
over leads that are listed on the MLS, I would actually do some direct mail, maybe put up
some banner signs, do some online marketing and find some good leads.
Out of, let's say, 5 or 10 leads that I send over, there might be 1 that's actually really
good.
Then the top investor will coach you and help you get that deal done in exchange for a joint
venture, usually a 50/50 split.
Everything's negotiable, but usually if you just bring them the lead and then they get
it to the closing line, usually it's going to be about a 50/50 split, but for you as
a new investor you get to see how an experienced investor works.
Basically you just copy their style, essentially.
That's what I did.
I'm all about just modeling the successful people.
There's no reason to reinvent the wheel, so to speak.
The best part about that type of mentorship is it's no money out of your own pocket.
You have to do the work of digging up the leads but once you do that you can just split
deals until you're comfortable enough to just do the deals by yourself.
Lesson number four is when you're first getting started as a real estate investor you tend
to have a scarcity mindset.
Now like I mentioned, you should be immersing yourself in abundance type books like Tony
Robbins, Jim Rohn, people like that, looking at quotes, immersing yourself in as much motivational
things as possible, but when you're first getting started it can seem as if there's
only a very limited amount of deals out there.
I remember when I got started I missed out on a few deals just because I was doing ... I
wouldn't follow up fast enough or my offer wasn't good enough, different things like
that.
I would miss out to other investors.
I would literally think that because I missed out on that one deal, there would be no more
deals left.
It'd be another six months or something til there's anymore deals, when in reality there
are thousands and thousands of deals in any city.
There's a quote by Richard Branson.
He was actually talking about business deals, but you can apply it to real estate as well.
He said, "Business deals, real estate deals are like the bus.
There's always another one coming around."
Once you learn the marketing, once you learn different exit strategies, once you learn
different ways to joint venture, it will literally open your eyes to maybe even millions of deals
available.
There's always going to be deals available because there's always going to be motivated
sellers.
There's always going to be properties that you can purchase at a low price and fix up
and sell at a high price.
Never think that the deals are ever going to run out.
The fifth lesson I learned from my first year in real estate, and this is something I would've
done differently my first year as a real estate investor, which was maybe almost a decade
ago.
You should be trying different strategies when you're first getting started.
When I was first getting started I only did direct mail.
That was good.
I would get leads, but I had time.
I could've done other strategies, because you never know which strategy is really going
to be the breakthrough strategy that can get you more money, get you more leads, just lead
to bigger and better things.
I always recommend trying at least three strategies because out of those three strategies one
might be a home run, one might not work very well, and one might work so-so, but if you're
just doing one strategy like only direct mail, you're not going to see the full potential.
An example of three strategies would be direct mail ... I would recommend doing direct mail.
That'd be the first one, but you should also be doing a ton of networking because the more
people you network, there's just more opportunities that are going to open up.
It might not even be real estate opportunities.
Sometimes you get free basketball tickets or meet a new friend or different things like
that.
You should always be networking and just trying to give value to other people and meeting
as many people as possible.
Then the third thing besides direct mail and networking, you should be trying some type
of online marketing strategy.
Me, I like doing YouTube videos.
That's a fun time doing the YouTube videos.
I'm also trying other online marketing strategies, but you should always have some type of online
marketing campaign going on.
An online marketing campaign is not just putting up on Craigslist ad.
I mean really a focused effort of starting a YouTube channel, doing a pay-per-click campaign.
Obviously you should have a website.
There's different marketing strategies, maybe doing Instagram ads, Facebook ads, different
things like that, but you should always be working on some type of internet marketing
campaign.
There you have it, five lessons I learned from my first year as a real estate investor.
Your first year is always tougher but you shouldn't set your expectations like, "Oh,
I'm going to try to flip 20 houses," or do 20 deals your first year.
Try to get your first couple deals under your belt.
Just try to focus more on the learning before you focus on the earning, because there's
always going to be deals coming around.
You just need to build a strong foundation for your future real estate investing or real
estate career.
Thanks for watching this video.
I hope you enjoyed it.
Please like.
Please share.
Let me know what you think.
I will see you in the next one.
Bye.
For more infomation >> Envy You + Giveaway - Duration: 8:15. 
Không có nhận xét nào:
Đăng nhận xét