OfflineIt is every real estate investors dream to buy a bunch of property, rent it out, and retire. Never to have to work again. Many people want to know if that is possible. The short answer is "yes". All of my friends watched me go from an insane real estate investor, working a full time job and crazy hours, to one day being retired and working very, very smart. My secret? I don't want to be the magic! It seemed to most of my friends to happen overnight, but the reality is it took about a year. Anytime I am doing something I don't like to do my goal is two-fold. 1. The first thing I do is try to figure out how to get someone else to do it for me and do it just as good if not better than how I do it. 2. The second thing is how to get that person to do it for free! Yes, I want my cake and eat it too! If those two things are what you think about most you will have a lot more of 2 things.
1. more time
2. more money
It sounds simple and it is simple because it has to be simple. Focus on those two things everyday and you will have more time and more money, I guarantee it. Now, I can hear everyone thinking "that's not possible". Let me give you one example. When I figured out that the number of low offers you put out was directly related to the number of offers accepted my world changed. The problem was it took me a lot of time to submit 25-30 offers a week. And then it was even harder to keep track of all of those offers and follow up with them a week or two later. My agent Star didn't like it very much either. I told her I wanted to start submiting all verbal or emailed verbal offers. That saved me a bunch of time not writing up every single offer but, I was still spending a lot of time on the back end doing the follow up and trying to keep track of everything. I was working way too hard. I came up with a plan. I sat down with Star one day and asked her to hire an assistant to help organize all of these offers and do follow ups. Yes I actually asked her to spend money to help me increase my business. When I showed her on paper that if she did this I would have the time to buy twice as many properties which would double her commisions she jumped on it. Still to this day she says it was the best money she ever spent. I saved my time and my money and I doubled the output of my business! Now I have more time and more money. That is just one example of many. Always be thinking about those 2 things and your business will explode. Get it done!
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
you just amaze me everytime I read one of your posts.
So Star didn't mind spending her own money to hire an assistant? She must be a smart lady to see that was good money spent. I wonder what the going rate is for a good assistant? I know you want to pay them well enought to keep them iterested.
Are you now putting in more offers than the usual 30 per week? What system does the assitant use to keep track of all the offers,counter offers, contacts, dates etc...?
Next you willhave to hire an assistant to help you do the follow-ups since you are increasing your volume of offers. You are just too smart!
Thank you for sharing with us!
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
Can you give us an example of how you approach the listing agent with a verbal offer.I been wanting to do this on the properties that I can't get emails for.
Jason S.
San Diego, CA.
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I always attribute my own inventions to "LAZYMAN SYNDROME" Not that I'm always Lazy, just creative. I tell people that "lazy men are the inventors of the world" They are always thinking of how to make a task EASIER. The question is are they "lazy or smart" I think the latter, but who doesn't want to take a break sometimes? Way to go Matt.....you continue to inspire, and this is a NO BRAINER.....you inspired your broker to hire help that would make her MORE money. She didn't have the creativity to spot that herself....YOU did. You opened up her eyes to the possibility, and backed it with raw data, and a Hard Cash Carrot. You can lead a horse to water....etc.
Luckily your broker was hungry enough to pursue the Carrot.
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
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Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
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Don't let EXCUSES be the nails that keep you INSIDE the box.