Foreclosure Secert #21 - The Check Needs Your Name!
A New Kind of Goal Setting For Real Estate Investors
I missed out on something really important. Good thing that nobody noticed. For somebody who talks about all the time about the importance of building relationships in thier real estate business as one of the four major thing any investor need to worry about, I completely missed out on including something that I have started doing this year.
I have never shared this before - never before in a seminar, workshop, coaching call or newsletter - frankly speaking I dont believe that anybody is going to go out and put in the effort to do so. The only exception is my Real Estate Apprentice group who gets this beaten in their heads every time they are in front of me.
So here is what is often asked of me : what the heck is am I doing that is making the cash register ring while countless other real estate investors are stumbling around wondering if this thing is a wild goose chase?
I will tell you the secret and here is the big guarantee - if you choose to do nothing, I mean absolutely doggone nothing for the next 90 days but do the following, your real estate business with explode with the power of backpack full of raw dynamite!
Here is the secret - you need to have goals, specific goals with deadlines with regard to the people you want to network with in your real estate business.
I am not joking - make goals with who you need to meet - weekly, monthly, quaterly - basis ; top realtors, other real estate investors, appraisers, title company people, bird doggers - and watch the magic happen.
Here is a simple strategy for taking an accidental transaction and turning into a long term profitable relationship:
1. Found a house, very yummy deal with lots of money in it.
2. Realtor is a jerk, wont return phone calls and never is in the office.
3. His assistant is a sweetheart. She runs the show.
4. About to close the deal this week. Taking the assistant out to lunch. No diabolical intentions, just wanted to say thanks for all y’all good efforts.
5. She goes on my mailing list. Gets cards, goodies on an occassional basis.
6. Call her once a week just to say hello.
7. Guess who she is going to remember when the next good deal comes around? Her boss being a jerk, he is never around! She manages his whole business.
That is a huge part of my networking strategy every month - get to know ONE player - whoever does not matters - and make sure my number gets on their speed dial - the closer to 1 - the better it is.
People cannot write a check to you when they dont know your name. Make yourself known and money will come. Dont drive to empty houses, go and sit in a successful real estate investor office for one day and answer phones. It is much more entertaining. The whole notion of a lone real estate investor riding into a deserted town full of foreclosures and riding out on the horses back into the sunset with all the profitable deals is a delusion, a dangerous one that is.
My success is owed to a great deal to the people around me. Simple as that. I just make sure that I am around the right kind of people.