Email that went out this morning…
Hey Investors, Landlords and Contractors,
I had a busy weekend between several BootCamps: Multi-family, WordPress and Martial Arts but my favorite was the Multis weekend.
It was good to see so many of our MassRealEstate.net members there and my congratulations to those who finished the 3 day Multi. I was asked to address the group and here’s some of what I had to share:
When I grew up in West Roxbury, there was a goofy guy named Jimmy, who had the distinction of being the least likely to succeed. But several years ago I heard he had 47 lots on Nantucket and was building homes there. I hopped on a Cape Air flight and looked him up. It was true, he had overcome many obstacles and was halfway through his project. Some of the problems almost derailed the whole development.
My young son Lincoln and I spent the day with our host Jimmy and the one item that stood out, which I attributed to his success was that he was always working on the THE MOST important item that would insure his success in Real Estate Investing.
I’d like you to challenge yourself tomorrow, especially first thing Monday morning, Am I working on the THE MOST important item that will insure my Real Estate success?
I have to do ______________ first…
As soon as I do ___________.
Why not substitute that success item first, then get to the easy items, like reading your email junk mail?
This morning I received three unsolicited calls and four emails from folks who attended and shared their Most Important items with me:
“Hey Mike, I’ve contacted two Brokers in the areas (within driving distance of Metro Boston) that Dave said were emerging.”
“One of my team members is reviewing the Apartment Buildings that I analyzed which I think are good deals.”
“My money guy says I’m in the wrong price range and she thinks I missed this ___ particular deal.”
We’re already programmed with the Success Gene, we should be after 400,000 years of evolution. Otherwise we wouldn’t be here. So we DO have the highest capacity for success. As Nike says, Just Do It.
By the way this is a Zero Sum Game, that is if you’re out there competing, second and third place Do Not get the deal, or even the crumbs from the deal. You’ve got to be First.
My daughter Vicky has her friend from Tel Aviv staying with us. Last night, when she wanted to go out, he HAD to finish talking to his Broker about his two offers, his Subs for the work their doing and the Suppliers for those materials they’ll need. As a Guest here in our Country, he’s “eating our lunch” He’s doing THE Most important thing to insure his Real Estate success. All this was taking place in what he’s found is the BEST emerging market.However I’m sure that it cost him a pricey brunch the next day with Vicky…
By the way Daniel will be sharing his work in that emerging Market, Tuesday, July 28, 2015 at our regular meeting where we’ll also be covering Selecting tenants with a qualifying scorecard that YOU put together.
We have a lot of folks show up at our meetings that are referred from the Gurus and Coaches but it’s usually when they’ve “fallen off the rails”. That is they got stuck on something, wouldn’t admit it to their coach, kept BSing them and tried to get it back at our meetings.
This is entirely possible to get back on track. The most important thing you can do with a Coach is, do what you’ve agreed to. e.g. One of the ESSENTIAL steps in successful investing is to meet owners and make offers. So you’ll agree to do two offers a week. You set out, completely prepared but the Owner (or Broker) laughs at you and tells you to get lost! After a few of these it’s unlikely you’ll continue to make those offers and you tell the Coach of course I did;-( At this point it’s important to tell the coach exactly what happened, even record the conversation and play it for the coach, That is salvageable! BSing a Coach is not…
Another tip for staying with an effective Coach and it’s a turning point when I work with my Student/Partners of “How to Become a Successful Real Estate Investor in 12 Easy Lessons” by Mike Hurney. Before you call or email a coach, take a shot at what you think is required.
“What do I do next?” won’t cut it, no one but you knows how far back a lack of knowledge goes.
Much more effective is:
“I’m not sure whether to do A or B next?
A will result in ______________
B on the other hand involves _____________
So my inclination is to go with B?”
A Coach can maximize your efforts with that!
One of my 12 Easy Lessons is to make an offer, a straw offer to me, on a property I send you, within 4 hours. I’m looking to see how you work in your head? In 5 minutes I can put an offer together that is Legally Binding on a cocktail napkin because it has the 5 essential items that make it Legal and it’s fully executed. However someone else might have 10 pages of legalese that is missing one item and therefore not binding. Once we cover this, now you’ve got a template you understand and can put into offer form in that same 5 minutes!
Networking, Turn the other cheek, July 28, meeting, etc Part 2 tomorrow because I’ve got to meet a Contractor and Tenant ($$)
See you soon, Mike Hurney, Director MassRealEstate.net PO Box 307, Marblehead, MA 01945 781-631-8018
PS I’m looking forward to seeing you at the “Ultimate Partnering 7” August 14-16, 2015 in Boston. When you call me 781-405-1845 to register, MassRealEstate.net has a $99.00 bonus for you!