“Scott, how do you find the great real estate investment deals?” & “What should I do to get started in real estate investing?” These are the 2 questions which new real estate investors ask me more than anything else. And you know what . . . these are excellent questions because they both seek to get to the heart of successful real estate investing – creating systems which keep great deals coming to you. But as they say, “If it were easy, everyone would be doing it, right?” Everyone wants to know what the one key ingredient is which will propel them to financial freedom in this business. Everyone is searching for the magic pill to make the real estate business easy. Well, right here in my inaugural blog, I’m going to give you the answer you have been searching for . . . The secret to becoming a successful real estate investor is really no secret at all. The secret is really quite simple. Choose a marketing strategy and TAKE ACTION until you accomplish your goal. People who become successful as real estate investors don’t quit. And believe me; it’s not easy for anyone. Successful investors choose a system of finding investment opportunities and stay with it until they succeed. In order to find great investment deals, you must move outside your comfort zone and take action. There are so many ways to do this. If you’ve read books on real estate investing, attended your local real estate investment association meetings or analyzed any number of home study systems out there, you have discovered that there is lots of good advice (and some really bad advice!) out there. Most leads come from 2 sources: your network and your marketing program. I like targeted direct mail as a way of finding leads. If money is tight, then print off 1000 flyers at a copy shop and canvas your target neighborhood. One month later, do it again. Call realtors and wholesalers. One month later, do it again, and again. I received a lead in 2005 from a realtor that I called every month for 2 years. The deal netted over $100,000.00 when sold in 2006. Was staying in touch with that agent worth the time and energy? ABSOLUTELY! Set up a mail/flyer system (a certain number per month to a targeted group or area) and mail to your target list. Put on your calendar the day you will do it, THEN DO IT AGAIN. Take Action. Work your action plan for 6 months, and then analyze what you’ve learned. Similarly, decide how many offers to make per week, how many calls to make to realtors, etc. And do it. Write down your goals and post them in a prominent place. This is extremely important because seeing your goals keeps you focused and motivated. Stick with your aggressive action system for 6 months. If you do, you very likely will find a solid investment deal and you know what . . . you are now on your way to becoming a successful real estate investor.
