The 3 Biggest Mistakes New Investors Make
Over the last few years, and after working with hundreds of new investors from all over the Country and in Canada, I have witnessed a common set of mistakes that new investors tend to make. My goal is that you read every word in this article and take the wisdom I am about to share seriously so you don’t make the same 3 mistakes that costs others thousands of dollars...and sometimes their dreams of financial freedom.
Real estate investing is (and always will be) a relationship business. The simple fact is that people like doing business with people they know and trust. As real estate investors we try and objectify the selling or buying of a house and focus in on the financials. What a lot of new investors fail to realize is that most people are selling or buying a property that they have some emotional connection with.
A common “newbie” negotiation strategy is to work through all the logical financial reasons why someone should make a buying or selling decision. They fail to spend time building rapport or asking the right questions designed to help the seller or buyer psychologically process the “emotional reasons” that drives them to make a decision.
Review of Mistake #1 - Not taking the time to build relationships. It does not matter if you are working with a motivated seller, cash buyer, or one of your power team members... always remember that people want to do business with others they know and trust.
Next on the list is the fact that most new investors try and “wing it” thinking that because they are “smart”, or “outgoing”, or a “go-getter” that through pure brute force they will succeed in this business. And the reality is that some of them would...but MOST would not. It’s hard enough spending time each day going through and learning about real estate...let alone actually applying the information in the real world! And since you are talking about houses (and sometimes lots of money) there is not a lot of room to make mistakes.
My students are successful because I give them a proven system that maps out each and every step they need to do as a real estate investor. From setting up their businesses to marketing, to handling objections and negotiating with motivated sellers, everything is systematized and automated. The good news for you (since your here and reading this) is that I created 7 amazing videos that show you some of my systems that you can watch for FREE. Just put your name and email in the box below and check them out.
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Review Of Mistake #2 - Thinking that you can just “wing it” and quickly become successful as a real estate investor. Systems will help you achieve your goals faster and with less mistakes.
The third and final biggest mistake new investors make is thinking that there job is to invest in real estate. Many jump head first into learning the fundamentals of investing in real estate ignoring the fact that “marketing” is the single biggest task investors focus on each and every day. Now don’t get me wrong, sticking to the fundamentals will make you a wealthy investor. What I am saying is that each day I put on my “marketing hat” and go to work trying to generate motivated seller, cash buyer, private money, and power team member leads. These leads are the lifeblood of my investing business and unless you quickly realize that YOU ARE A MARKETER first and foremost, don’t believe for one second that your business will become profitable for any length of time.
Through my marketing and lead generation skills I have leveled out the typical “flood, drought” problem most new investors face. Yes, it is possible to stumble upon a good deal and make a little money in this business. No, it is not possible to CONSISTENTLY profit from investing in real estate unless your audience knows you exist.
Review Of Mistake #3 - Marketing for leads is the single biggest task every successful real estate investor has to master. I can teach you how to “focus” your marketing so you don’t waste time or money, but instead generate real results. Don’t re-invent the wheel (like I tried to do when I was new and failed miserably) and instead take some of the step-by-step marketing tactics I share with you in my 7 FREE video mini-course and apply them in your market. Simply fill out the form on the page and get instant access today.
Because you made it this far and read this article I want to leave you with some final words of wisdom that my mentor shared with me over 8 years ago. He said “Cody, real estate can be overwhelming if you focus on the end result. Instead focus on moving the football down the field, yard by yard, until eventually you score a touchdown!” I break every real estate transaction I do into 6 simple steps (biz set-up, lead generation, circumstance analysis and doing my due diligence, deal structuring, funding, and closing deals & getting paid). I only focus on the step I am actively involved in and don’t worry about the next one until I have to. I automate what is mundane and can be automated, and I get involved in the relationship side of the business (deal structuring and some lead generation) when I have to. You can become a success real estate investor with the right education and direction. My 7 free video mini-course is a great place to start so go right now, fill in the form on this page, and let’s begin your journey together.
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