The BEST Way To Learn Is By DOING
See one of the secrets of becoming a successful real estate investor is that you must learn the business by actually DOING the business (in the real world).
It’s critical that you come out from behind the computer screen, out of that chair in the seminar and do specific things to actually get results.
The PROBLEM is….
When you begin to take action in the real world and begin DOING things on your own, it can be downright SCARY as all HECK. Ask me how I know. I spent three years trying and failing on my own. Second guessing myself every step of the way.
I mean what if:
Someone calls you out on being a beginner
You get beat out by your competition
You fill out a contract wrong and you actually have to buy the property
You lose your hard earned money on wasted marketing efforts
Waste precious time away from your family trying to get this real estate thing to work
Completely fall flat on your face and fail
Embarrass yourself in front of your family and friends
These are all very normal and logical questions and fears that are likely going to run through your mind. I know they definitely ran through my mind. Repeatedly!
When you allow any one of these thoughts (or a dozen other similar thoughts) to creep into your mind and stay there, it can have a damaging effect on your results. In fact it can cripple you. Many investors call it quits long before reaching their goals for this very reason.
I mean, let’s be honest, if any of those above thoughts creep into your mind, how confident are you really gonna be when you’re talking with a seller?
That’s right. Not very 🙁
Now I’m not trying to scare you here. However I don’t believe in sugarcoating things. I want you tell you exactly how it is. There is a reason I am speaking so directly.
The reason is that I want to speak right through all the fluff and right to your heart. If you’re supposed to hear this, then you will. So stay with me here for a second, because I’m about to turn up the heat in a really good way 🙂
First another piece of sage advice:
“You will seldom improve your situation if you have no one to copy but yourself. Why? Because yourself can be an idiot!”
How Foolish I Was – Utter Failure
Let me give you an example of how foolish I was when I started…
I remember one time getting a property under contract for $99k and thinking it was worth $175-200k when in fact it was really only worth $100k. This fact was completely oblivious to me at the time. I didn’t see it. I knew all the formulas from the courses and programs I had bought. I ran the numbers just like they taught me to. I was confident I was about to do my first deal! [So I thought … LOL]
I remember smiling as I was sitting at my laptop in my living room blasting this out to all of my cash buyers telling them how amazing this deal was and how much money they were going to make on it. And I thought to myself…. “after this they’re gonna be begging me for more deals just like it!”
I remember talking with the seller’s about how fast we were gonna do this deal. I was fired up and ready to make this happen. Ready to do my first deal! It had been long enough for crying out loud.
So after I sent it out to my buyers I decided I wanted to hold an open house. A shotgun style event to try to find a buyer within the first weekend or two. I was confident this thing was gonna be slam packed. I mean after all I had a $175-200k that I was letting go for $109k. They were the lucky ones 🙂 Talk about an amazing deal!
Well I held the open house.
No one came.
I was devastated.
My wife even bought cookies and pretzels. Balloons for Pete sake. Come on Pete – you’re killin’ me!!
After a few weeks of ramming my head into what felt like a brick wall – I finally I had a gracious buyer show me how my calculations on the property were completely off.
Long story short, I had to end up canceling the contract with the seller and the deal fell through.
Talk about mortifying. It was down right embarrassing. Deflating. And for sure, humbling. I had failed in front of my wife, my friends, my family and even some co workers I had told at the time.
So if you’re down right now or if you’re spinning your wheels. Trust me when I say I know how you feel!
Looking back I’m very grateful for the pain and the lesson in it. You see, I had the passion. I had the right intentions. I had the drive. But I had to be honest with myself.
You Simply Don’t Know What You Don’t Know
I didn’t know at the time how valuable it was to have someone there as a voice of reason, a second pair of eyes looking at my business from a different angle, from a different perspective.
I didn’t really “get” the value of having someone in my corner like this until I saw my mentor at the time who was making over a half million a year (and who had been doing so for quite a few years in a row) tell me that he still always had his partner look over his deals to give a fresh perspective on things.
“There’s always something that you’re not seeing. Oftentimes having someone who you really trust look at it from a slightly different angle and with fresh eyes can offer up the perfect solution.”
Talk about wisdom and humility. Most people who get to that level of success think they know it all. Nope, not him. I knew something was different about him.
Later after we developed a certain level of trust in our mentoring relationship, he would even asked me for my opinion and ideas on growing the business. My feedback on his leads, deals, and marketing. Do you know what this did for my confidence?
It was transformational. <–( Don’t think that’s a word – but I’m going with it. Feels right to me. Totally should be a word.)
This was a light bulb moment that I’ll never forget. Here he was wildly successful at a ripe age of 30 and he was still getting fresh insight everyday in his business.
Rewind to my foolish mistake I made with my failed deal – I simply didn’t know what I didn’t know.
You see I’d been burnt before. I bought all the courses, went to the seminars, paid well over $10,000 for the high level mentoring programs.
When I had questions I would have to dial into a 1-800 number and speak with a “transaction specialist” who often times would NEVER really answered my question directly. I really felt like they were just hired to read from a manual. And they certainly weren’t invested in my success. There was no personal relationship there.
And see that’s the thing about these big national programs. They are concerned with VOLUME. Pumping people through.
Often times I was disappointed, discouraged and about ready to give up.
Maybe you can relate?
See you can read all the books you want, know all the formulas like I did and attend all the seminars in the universe, but without personal guidance and support from someone who is already doing what you want to be doing … You will have a very difficult time. I know I sure did.
Recapping This Lesson – Action Must Be Taken:
Success in real estate requires you to step out from behind the computer or from your seminar chair and to TAKE ACTION, specific action, repeatedly, in a specific way… in the real world.
The problem is there is when you do this it can be CRIPPLING and VERY SCARY for most people. I know it was for me.
Now, another dose of “realness” is just because you feel “scared” doesn’t change the FACT that action must still be taken.
So the question becomes how in the world do you get through this hurdle?
You get through this hurdle by not doing it alone. By getting a mentor.
You see I actually have never met a successful investor who has done it all on their own. Every single successful real estate investor that I have ever met, whose had any measure of success has mastered there skills and learned directly from a one-on-one mentor. Every single one of them.
Now above I mentioned I would tell you my transition to real estate success.
The REAL Secret Behind My Success
I attribute at least 50% of my success, if not more to MY original mentors in real estate whose biggest service to me was showing me what was truly possible. I would’ve never have thought what I’m doing was possible had I not personally witnessed it in their life with my own two eyeballs.
You see I came across two brothers who do the same exact thing I will be teaching you to do. At the time of me coming under their wing they were doing somewhere around half a million a year (and had been for a while) and had 140 rental units in my area. Now they have 300 rentals and and are making who knows how many millions. Did I mention they had been doing this since they were 18 years old and when I met them they were only 30 years old at the time? Yeah. True story.
You can spend all you want on books, training, seminars and education …And those things have value. Often times though, the end results is that you feel motivated for maybe a couple of days but it doesn’t last.
More importantly, YOU DON’T GET RESULTS.
If You Want To Succeed You MUST Surround Yourself With Positive And Successful People Who Are Already Crushing It!
You need to learn directly from someone who is successful. I spent three years trying to figure out the real estate game before I actually completed a wholesale transaction. I read books, attended seminars, made offers, talked to everyone I could about real estate.
But it wasn’t until I came under the wing of these two VERY successful wholesalers here in Ohio in an apprenticeship-type relationship (very similar to the one I will be providing you with) that I finally started making money.
I will be forever grateful for what they taught me. Simple being able to hangout with them did all the transforming I would need. Their tone of voice, their confidence, their demeanor, it all began to rub off on me.
Most of our relationship was virtual, but having them in my corner telling me exactly how to do with my marketing to get super high quality leads pouring in, how brand my business, what to say to seller’s, how to overcome objections, how to write my emails, how to make my offers, when to go on appointments, how to go on appointments, how to fill out contracts, how to negotiate, etc.
Seeing and hearing how they did things, how they marketed, how they talked to people, how they networked, and went on appointments, modeling exactly how they delivered their offers. It all rubbed off on me! It changed me forever and imprinted on me the tools I needed to succeed.
Have you ever heard of these things in our brains called mirror neurons? Ever wondered why after hanging out with certain friends or meeting a new acquaintance – you start to talk like them. Even act like them and have similar mannerisms as they do.
We are who we surround ourselves with. If you want to be successful then you must surround yourself with successful people.
I’ll end this page with a final lesson that forced me to realize that in order to succeed I needed to …
Follow A Proven Path To Success Instead Of Re-Inventing The Wheel