How to Finance & Build 10K/month Cash Flow from Rentals!

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How to Finance & Build 10K/month Cash Flow from Rentals!

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Learn by Doing, 6 exercises to learn real estate fast!!

It is easy to read or listen to theory and understand. But knowledge is internalized by applying. The best way to learn is by doing. Here are 6 exercises that are a must for beginner real estate investors to gain the hands on knowledge they need to be successful in real estate the fastest. Investors of all kinds can benefit from these exercises.

  1. Buy Right – Buy something on craigslist for 50% of its value. Find a motivated seller, negotiate down and play the numbers game until you find that diamond in the rough. This is exactly how you need to buy investment real estate.
  2. Sell Right – Sell something on craigslist for more than its value, fast. Write a great ad, with good pictures, invoke a response, create competition and bid up the price for a fast sale. Do not sell until you get over your asking price and negotiate so they come pick it up fast. This is exactly how you need to sell property, get people emotional and fighting for it.
  3. Automate your marketing plan – Get lists of motivated sellers such as foreclosure/default, probate, absentee owners, expired listings, etc. If you can’t find these take to your real estate club members, local investors, agents, title, escrow, county recorder’s office, etc. Create a postcard with Problem-Agitate-Solution message on click2mail or another service. Automate your plan to get motivated seller to contact you.
  4. Tasks, Teams and Systems – Write down every task needed for you to be successful in your business. Next to each one, put a Yes or No on whether you absolutely 100% positively have to do this task yourself. If you do not have around 80% NOs, be more entrepreneurial and go back through and figure out how to delegate more tasks. Delegate these tasks to team members, good team members. Sometimes in business team members do not perform so make sure you have backups and can replace them. Create systems to automate and make your business effective and efficient.
  5. Create a Business Plan – Focus on one strategy and become a master. Document a business plan. This is crucial for your success as not having a plan is planning to fail.
  6. Network – Create an elevator speech and go to networking meetings. Invoke curiousity and get them salivating over more info on what you do. Raise private money and create strong win-win relationships at these meetings.
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