I have been a fly fisherman for years and even dabble in tying my own flies.
Stop for a second on the river and you will see that the big fish aren't the ones you see splashing on the surface, eating flies.
No ... the really big fish don't like to waste that much energy. They like the food to come to them.
Put on your sunglasses and you can see the big ones finning slowly behind each of the bigger rocks.
They park themselves behind the obstructions waiting for dinner to come to them. When a bug floats by it just takes a little turn of the head to grab their dinner and settle back in.
When you want to be a Big Fish Real Estate Investor, the secret is to get profitable projects to flow right across your desk.
I am talking about Deal Flow here. Deal Flow is when Projects come to You
Like the Big Fish you grab the meatiest deals as they flow by and you can set this up so it happens on autopilot in three simple steps.
Step 1) Get Crystal Clear on Your Goals
Take a moment and decide ... what are your goals for your Investments and Net Worth for the next year.
- How much property do you want to take under control?
- How many deals do you want to do and what dollar amount?
- How much do you want your Net Worth to grow?
When you are crystal clear on your answers to these questions, you are ready to move to the next step.
Step 2) Build Your Network
You simply have to tell your goals to everyone you know ... I mean EVERYONE ... most of all those people who have a business reason to help you out.
It is only by telling more people what you are doing that you can expect to see more deals come your way. What is cool is that people love to help. I will even guarantee you ...
If you don't have Deal Flow right now, it is simply because the number of people who know what you are looking for is too small.
Network Building: Bigger is Better Amp It Up
Build a detailed plan to enlarge your network with exactly the kind of people you know can help you reach your goals.
Write down your current contact list and circle
- half a dozen Agents and Brokers
- Title Companies
- A brace of Real Estate Lawyers
- A Mortgage Broker or two
- Book keepers and a CPAs
- Appraisers
- A Property Manager or Two
- Bankers/Lenders
- 1031 Exchange Agents and more
List everyone you know in your town and in your target market who would benefit from you reaching your Real Estate Investing goals. Once you have the list ... tell each one what you are looking to accomplish in this next year.
Leave them your business card and make sure you keep in contact every several months to stay in touch.
Here is a way to go even faster
Step 3) A Deal Flow Jump Start - Pay It Forward
When you are building your Network it is important to fed and care for it properly. Make your's a two-way Network by putting your time and energy in as well as asking for other's support.
The Secret? To get what you want you have to give other people what they want.
Take every opportunity to ask the people in your network what their goals are - what they want and need - and give it to them every chance you get.
If your goal is buildable land and your contact wants a multifamily deal ... and you run into and great multifamily project - let them know. This act of kindness will circle back in the form of a referral from that same person for just the tract you are looking for.
It just takes these three steps - diligently and persistently applied - to reach your goals.
1) Clarity on Your Goals
2) Create A Network And Tell Them All
3) Help Network Members Whenever You Can
Just like the big trout has the stream current bringing food right to its mouth, your Network is the current that brings Deals to your desk "automatically".
Practice the three steps every day with patience and persistence and in a few months you will see Deal Flow that can last as long as you want.
Then you can sit back like the Big Fish in the stream - watching the deals flow by - and reach out and grab only the really profitable ones to acquire.
Andy Willoughby 3 Step
Perhaps you have heard Andy's friendly radio commercial. On it, he asks the question, "how in the world are you anyway" and then launches into his pitch for his three step program. It is a very warm and compelling commercial, and has been on the radio for a while. When I ran my brick and mortar business, I spent money on radio commercials before and they were not cheep. Andy is making money off of those ads or he would not be running them, but what is he selling?
Is Andy Willouby's 3 step program a scam? He is marketing the supplement Xango which is a drink made from the Mangosteen fruit. The founders of Xango discovered that the Mangosteen fruit is very high in antioxidants and have marketed it as a healthful drink. Xango also has a new cutting edge skin care line that uses the properties of the Mangosteen fruit. It is not a scam.
The Xango business is network marketing business that you can join and then make money if you market the product and business to others. Andy is simply marketing Xango to get new members for his organization. There are many people that have joined Xango and made a lot of money marketing the product. The drink is tasty, but since I have eaten the actual fruit when I was in Thailand, I would prefer to remember the fruit for how it tastes fresh. It is, however, a healthful drink and a very compelling company. It is not a scam and you could make money with it.
Xango has been available for a while though, and I believe that there are more compelling products on the market that someone looking to start a home business can join to make a decent income. There is a limit to how many people can join a company and still make decent money. The juice is, in my opinion, rather expensive. In current recession/depression, the kind of business opportunity you should look for is a business with a strong product that everyone will want and that has not been on the market for more than a couple of years.
The fact that Xango has been on the market for a while means that the company is very solid, which is a good thing. They will not fold up and fail to cut you a check from your marketing efforts. I do believe though, that a company that is newer with a compelling product line and that will be large like Xango will increase your chances of prospering. I almost joined Xango, but I felt like there were already to many large players in the company.
It is a certainty that if you have asked the question, "is Andy Willouby's 3 step program a scam", the answer is it is a resounding NO. I am sure he would love to have you join him in his Xango business, but the chances that you will make enough money to purchase similar radio advertisements from your profits is slim.
I should also add that there are a number of juice products on the market that contain the Mangosteen fruit, and that is somethingthat you should also consider when looking at joining Xango. Many consumers would rather purchase a nutritious drink at their favorite health food store or big box store and pay less, even if they know they won't be making money with the product. You can just go to your favorite search engine and look up the Mangosteen fruit and you will see the many imitators that are out there. They may not be as good as the Xango product, but they will make your marketing efforts more difficult if you are in the Xango business.
Both Dike Drummond Md & Steve Jankowski are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Dike Drummond Md has sinced written about articles on various topics from Investments, The Internet and Real Estate. Before you make decisions on investing money you can join in on Dr. Drummond's Deal Flow of Commercial. Dike Drummond Md's top article generates over 880 views. Bookmark Dike Drummond Md to your Favourites.
Steve Jankowski has sinced written about articles on various topics from Investments, Vitamin and Mineral Supplement and Internet Marketing. Steve Jankowski is a former Marine, a rehabilitated attorney (he rarely takes a case nowdays) and full time online marketer. He specializes in teaching people to use the internet to run a business from home. He lives in Minnesota with wife Nancy and their. Steve Jankowski's top article generates over 18100 views. Bookmark Steve Jankowski to your Favourites.
Big Brothers Dream Home By following these steps, you will have fun and ultimately end up with your own dream home, not someone elses. Enjoy the process of watching your dream come true