CFD 109 – Part 2: J. Massey, Recorded LIVE at Real Estate Investors Event in Santa Ana!

This Cash Flow Diary podcast episode continues from Monday’s episode as you learn more about my Investor Identity, how to determine yours and why that’s important, why the deal comes last and only after you have determined your Identity and market, why your are looking for problems and not properties, and why it’s so important to your success to invest more time in giving others something than trying to sell them something. There are a number of stealth “ninja secrets” in this episode, plus you get some insider tips on how to create even more cashflow in your multi-family properties! That’s not all. You also get a deep scoop of how to use my Profit Analysis Quadrant(tm) to explain the benefits of your deals… AND why gathering a team is so critical to your efficiency and success. It’s not just having any team, however. It’s having the RIGHT team. Want more ways to create cashflow? Listen to the questions the live audience asks and the answers they get. Lots of people were taking notes at this exciting event. Listen Now.

Show Notes

How To Raise More Money Than You Need

Summary

On this episode of Cash Flow Diary J. shares information on how to find investors, and raise private capital. This podcast showcases audio from J’s international live events and gives you insider secrets on how to raise more money than you need. If you’ve ever wanted to know how to gain access to the resources of others and leverage that to create value then this is the podcast for you!

Episode Rundown

6:38            No one has a money problem

13:25            The most important question is “now what?”

14:39            Knowledge, time, money and credit

15:44            Job vs. source of income

17:37            The credit system

20:52            Problem solving knowledge

24:49            Investor Identity

27:06            What is IMTD?

38:25            Team identity

43:03            Getting the conversation started

45: 46            Learning to speak in benefits

Key Lessons Learned

  • Any goal once obtained becomes a responsibility
  • You need to learn to do things that are naturally uncomfortable
  • You cannot look good while learning
  • We like to follow people who look, act and sound like us
  • No one has a money problem (you have an idea problem)
  • Real estate and raising capital is a skillset
  • We all have friends that know a lot but do very little
  • The most important question is “now what?”
  • There are 86, 400 seconds in a day (investment opportunities)
  • You are an investor in time (how have you been investing your 86, 400 a day?)
  • Every business has these four components in various forms: knowledge, time, money and credit
  • The challenge is to use the above in a better way that we have previously
  • Using ‘job’ is the wrong word, what you need is a ‘source of income’
  • Most of us have been leveraging time and one way of creating value
  • Life often gives us the ‘test’ before we get a chance to ‘read the book’
  • If we were all judged on our past most of us would not show up today

Knowledge

  • The secret is to learn how to use time to gain access to knowledge
  • Knowledge is the one thing you need
  • Ask yourself “How does what I’m learning solve a problem?”
  • If its not solving a problem its not knowledge that will make you money
  • We are all designed to serve a particular ‘type’ of person (this has a lot to do with who you already are)
  • Once you understand who you are going to serve everything else becomes clear

IMTD: Individual, Marketplace, Team, and Deal

  • Not every deal is designed to achieve your financial goals
  • You don’t need to dominate every aspect of the market in order to succeed
  • If you have the wrong team it doesn’t matter how great the deal is, it will fall apart.
  • The team has its own identity
  • If you don’t understand the customer then you don’t understand the business
  • Getting the conversation is started in two ways A) someone asks you B) you ask someone
  • J’s formula: I [action verb] [target market] [benefit] so they can [benefit]
  • If you learn to speak in benefits you’ll attract more people to you (rather than speaking about the deal)

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