Free yourself from some of the traps you might run into when starting in the real estate investing business. Watch this video as I explain how to avoid the “short cuts” and get out of the mindset of looking for the short cuts.
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Video Transcript
I've been seeing this pop-up not in our net not necessarily in our Facebook forum but in other forms that are part of and other questions that have come in and I just I want to run something by you.
It’s a concept; I just want you to think about it this way because it may free you from some of the traps that I'm finding some, some people who are not associated with CFD that they're getting stuck in.
For example if I came to you today and said “hey I'm going to start a new nail salon or that you say know what I want to start a restaurant” and at any point in time when you said to yourself “I want to start a restaurant” or maybe you're going to do a nail salon or maybe you can start a new car wash.
At any point in time do you have the expectation that somehow you could go somewhere to some company by a list of names and numbers of people who are ready to do who are literally just going to hand you money and be your customer?
I seriously doubt that I don't think any of you when I say it in that framework think all I got to do is open a restaurant and then I can go over to this guy I got this guy who's got a list of 3,000 people who eat food and what he'll do is he'll just bring me all the customers I need so I got this you know, I understand how this whole thing works.
I don't think any of you do that. You would treat that business and understand it you know what I got to go beat the streets and build my database of customers myself for this business.
I don't care how many businesses you have before you would still know that you would need to start a brand new database for that business related to that product related to that service. You wouldn't have the expectation of being able or there say an expecting someone to just give you a list and say hey here's you wouldn't expect that.
You would have you would expect to earn each and every one of your own customers by starting from zero and building that relationship.
Here’s what I’m hearing and I've seen this number of times especially in Facebook groups.
I'm hearing words like and seeing things like I just want to make sure you guys don't fall into the trap. We’re going to find a list of buyers, a list of buyers what where can I find a list of private people with money, do you really have the expectation that you're going to have a list you're going to pay 2995 for someone's list and you're going to actually call those people and really someone's going to hand you a hundred thousand dollars or 20,000 50,000 or anything?
At best they can give you people that are interested who you are still going to have to build a relationship with. Sure they're a little pre-qualified but that doesn't mean they're ready to do business with you. For those of you who are familiar with income infusion you understand the now you can principle when you understand now you and can. You've got to qualify for all three of those things regardless of how that person was introduced to your product business or service.
So stop looking for the shortcut.
That’s really what it is like. Okay, I'm just going to go find the property and I'm getting a list of buyers and that'll be the end of the story and I'll have my shortcut. You act don't have the expectation anything less than what the new restaurant down the street has. The new restaurant down the street had to learn how to get their doors open.
They had to learn how to fund their business how to build it how to find the place where they were going to add the real estate where they were actually going to conduct business. They never ever said to themselves you know what I'm going to run every part of this restaurant by myself they knew from the beginning they were going to need a staff they knew from the beginning that they were going to need individuals to help them with their paperwork their taxes they're entity formation; this wasn't like oh my god I can't afford to bring this person on board.
It was a necessary cost for opening the door.
There are no shortcuts is what I’m trying to say. Don’t get addicted to the shortcut because you think oh it's just a building all I got to do is buying a building and stick somebody in it. You can't take the shortcut that happens you get trapped you get trapped In having property and you can't figure out how to get yourself out of it.
Now Eli is a rare exception and then we continually applaud him for being able to figure that out for using the tools the tips and techniques whatever we shared with you Eli to make that happen.
I'm grateful I'm glad you went out there and made it happen but you're the rare bird to where someone gets to 10 20 50 a hundred units and then figures out how to make that jump if they didn't start out that way.
But those are the things that I want to make sure that we hear that you watching me right now know that there are no shortcuts. you don't get to shortcut the idea just because it's real estate you don't get the shortcut the customer acquisition you don't get the shortcut your marketing; you don't get the shortcut any of those things now many of those things are easier sure financing is easier more readily available but you still have to do it.
Yep investors are easier to come by but guess what, you still have to do the marketing. Here is no shortcut you're not going to buy the trust me if there was a big of you know how much money I can earn there was a big yellow book somewhere that I could sell you love all the names of people all you had to do was call them in 30 minutes they were just wire you money you have any clue what that would be worth.
Here’s my point. I can show you and will continue to show you what works were efficient what's effective at building your own farm of investors, buyers, and sellers.
The only way to build your business they got to be emotionally attached to have a relationship with you. Most of you are going to start out just working in your own local areas which means you don't need any fancy tools or online stuff eventually you're going to need to spread your wings and fly a little bit further and that's when we can start that's when we begin to talk about other tools and other techniques to be able to reach marketplaces that are outside of your driving distance so that you can begin to figure out how to build those relationships.
Indeed, in fact, many of you watching me right now I've never met in person.
Why? Because we use those same tools tips and techniques that I'm talking about to build a relationship with you in some way shape or form so that you would begin to understand that we could help you specifically with your issue in the way that you needed assistance.
It was never short cut there was no simple you know I didn't pay 2995 and buy list the names and actually have the expectation of business happening.
It is grown. You plant the seeds your water until fertilize the soil eventually it peeks through you keep working it and then when it's time to harvest you can keep that. Please keep that in mind.
