You don’t own a real estate investing business, you own a marketing company and real estate is the product that you are marketing.
In your business you should be looking for 3 things.Dollars, Deals and residents.
Under the deals category of your business, stay connected. Be on the lookout and always available to motivated sellers or any distressed situations. You can find some great deals out there that will create cash flow for years to come and help someone else in the process as well!
Under the dollars category, there are so many people out there who are looking to invest their money into real estate you just need to find them. There are also many people out there who are looking to purchase real estate as an investment.
What is the difference between the two? Some JV partners just want to invest their money and have nothing to do with the real estate and some JV partners will want to be more hands on in the property that they are investing in. It is important for you to decide which type of investor you are, and then find the right partner to compliment you.
The slowest step in any real estate investing deal is the bank process. What if you could skip the bank and find an owner to finance a deal themselves?
Wholesaling combined with owner financing is the fastest path to a big payday.
The last piece to the puzzle that you need to keep your real estate business growing consistently is finding and keeping great residents. This is where you really need to think of your business as a marketing company.
What can you do to keep your buildings full at all times?
What if you had a waiting list of people who want to rent from you?
Remember, if you’re phone isn’t ringing you don’t have a business. You have a hobby!
I would love to hear what you think! Please leave me a comment below.
Here’s to your success,