You know the "80/20 Rule"? It says that 80% of something is due to 20% of something else. Like 80% of your results at work are due to 20% of what you do all day, etc.
Well, I have a "99/1 Rule": In real estate investing, you can invest about 1% of your time and get ahead of 99% of all investors. It's TRUE. Better yet, it's actually a very easy three-step process:
Step One: Find a local real estate investment group, and go there regularly. (If you do, you're now ahead of 90% of investors.) These organizations are simply fantastic for investors! It's where like-minded real estate investors (and those who WANT to be) get together once or twice a month. The dues are cheap--a few bucks a meeting. But in one room you'll find rank beginners sitting next to multimillionaires that could easily buy the hotel where the meeting is held.
I used to get in my car and drive TWO HOURS to get to a good meeting. Losers say: "I don't have the time", or "They had a boring speaker last month", or "They didn't have snacks, and I was hungry." One excuse after another.
Winners say: "If I get one SINGLE great idea or new contact from the whole evening, I'll be delighted." That leads me to the next step...
Step Two: Ask questions! (If you do, you're now ahead of 95% of investors.) It's easier to sit quietly and hope someone asks the question on your mind. It's less threatening to hang back and let others do the talking. But you need to stretch your Comfort Zone a little bit, and speak up.
If you don't want to stand up and ask your question in front of everyone, that's fine. Just wait and ask someone later when people are mingling. But ASK IT!
You don't have any questions, you say? Why is that? Either you know it all, in which case you're already filthy rich; or your head's not really in this business. If you're working to get more leads, negotiate with sellers, and do more deals, you MUST have a few questions on your mind. Get in the game. Get involved. And ask your toughest questions.
If something's holding you back from your next level of success, there will be someone in that room who has the answer. By the way, even if there IS a boring speaker, just go after some of the other investors in the room. You can tell who the successful ones are; they're usually the ones asking questions!
Step Three: Take Action! You took action to be at the meeting. Good! Now take SOME other action: Invite an investor or the group organizer out to lunch; go to City Hall and get the names of out-of-town owners, so you can mail to them; send letters to the pre-foreclosure listings in the classified section of your paper. Believe me, this will accumulate over time into real progress toward your goals. And by taking this last step, you'll easily be ahead of 99% of other investors. Maybe even 99.99%.
"Dave, these steps sound too simple!" you say. I agree. Everyone UNDERSTANDS them just fine. It's just that almost nobody DOES them! Will you be the winner to stand up and do them? I hope so!
"But Dave, isn't there any shortcut?" Sure there is. I've built my 11 years of experience, and more than 540 deals' worth of secrets, into my home study kit. You can find it by clicking here:
http://www.rementor.com/aptsystem.html?utm_nooverride=1&rem=email8
You definitely can gather all that information on your own, over the years. But many investors like to give themselves a "leg up", and get as many tips and secrets as they can, right away. It shortens the time to become successful.
Of course the best thing is to do both: Get materials from successful investors, AND go to investment group meetings.
Dave Lindahl
P.S. Little hinges swing big doors. Take action as I describe above, and the door to a lifetime of wealth will be open to you!
P.P.S. Don't Take My Word For It; Here's One Of My Students:
"Dave, I wanted to thank you so much for your help during the Apartment Boot Camp! When I first started hearing you speak about real estate investing, I was completely skeptical! I have to say that you completely changed my mindset! I decided to take your course, and since then I have flipped a 16 unit building and made over $90,000 in just 3 months! I also flipped two 2-Families and made over $202,000!" Sarah Cyrier, Arlington, MA
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Saturday, March 27, 2010
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