What's going on everybody?
In today's video, I'll be giving you five different tips to instantly make you a better
real estate investor.
And this is from my own personal experience of being a full time real estate investor,
as well as having worked with hundreds if not thousands of new real estate investors.
That being said, before we jump into this video please smash that like button and let's
get started.
Okay, tip number one is to get a mentor.
Now, I know a lot of people, everyone always talks about getting a mentor for this and
mentor for that, but that's good advice.
You really need to get a real estate mentor.
And there's basically three or four different ways of doing this.
There's the freeway, obviously you can watch YouTube videos, you should be watching a lot
of real estate investing YouTube videos.
You can get some good strategies, you get tips.
And we should do is start applying what different people are talking about, including myself
into your real estate investing business.
And then once you've tried some of the strategies that the different real estate investors are
talking about, then move on to the next investor incorporate some of their strategies and eventually
what it's going to happen is you're going to kind of develop your own real estate investing
strategy so to speak.
But you really need to model someone that's already doing it and is already successful
before you just go out and just do your own thing.
Now, the second way of getting real estate mentorship is to find local real estate investors
in your city.
And there's real estate investors in every single city.
No matter what, any real estate agent who doesn't invest in real estate or anyone says
about real estate investing, there are always going to be real estate investors in every
single city, full-time real estate investors.
What you need to do is find those people.
You can find them at local REIA meetings, maybe you can watch YouTube videos and find
out where they live and maybe stalk them a little bit, but you should be able to find
different real estate investors in your area.
Now, what you're going to do next is do some marketing for off market deals.
And once you start doing marketing for off market deals, that could be direct mail, that
could be banner assigns, that could be door knocking, that could be calling cold, any
number of things.
Once you start getting those leads, since you're a new investor you may not know what
to do with them, but what you can do is you can start to bring them to the more experienced
investors.
And oftentimes for free, these local real estate investors will help you get the deal
and a contract and help you get into closing.
And obviously they have some incentive in there if you're bringing them really good
deals and really get off market leads, they're going to want to obviously pay you for the
deal once it closes.
But they'll probably coach you up along the way because they were probably in your shoes
at one point.
I found that a lot of real estate investors locally, maybe even nationally too, they're
just bored.
Sometimes they just want to help out a new real estate investor.
They like seeing that.
They like seeing the progress because that was them at one point.
Don't be afraid to reach out to new investors and say, or to more experienced investors
and say, "Hey, what type of deals that you're looking for?
I'm going to start to send you leads, tell me what I need to do."
And oftentimes you can get some free coaching that way, free mentorship.
The third way of getting a real estate mentor is paying for a coaching program.
Now, there's lots of real estate coaching programs out there, including myself, I have
a real estate coaching program.
The link is at the bottom.
You can find out more information through my website, but you should consider paying
for a mentor.
And I'll give you a couple of examples of why.
When I first got started in real estate investing, I paid for a very expensive real estate mentorship
program.
It was in the five figures, and the whole program was about how to become a real estate
investor.
It covered how to find deals, how to fund deals.
How to market your properties once they're renovated, how to find a deal, wholesalers
and wholesale your own deals and buy multi-family.
They covered a wide variety of different real estate deals.
But as a result of taking that coaching program, it was a shortcut.
After taking that program, I learned how to buy and sell off market real estate.
I knew how to make a full-time six-figure income buying and selling properties in pretty
much any market.
So yes, if I didn't take the coaching program, I'd probably eventually would have figured
it out and would have watched a lot of YouTube videos, I would have probably read a lot of
books.
I would have tried a lot of different strategies, I probably would have a failed forward, as
they call it, Failing Forward, I think is the book.
However, doing a real estate coaching program is a shortcut.
I learned a lot of things that made me a lot of money.
I would highly recommend looking into a coaching program.
A couple other examples of why you should do coaching programs.
Similar to the real estate, I signed up for a credit mentoring program to help you improve
your credit, but more importantly, get longer lines of credit, hundreds of thousands if
not millions of dollars worth of credit so that you can have more purchasing power.
As a result of doing that credit class, I now have several hundred thousand dollars
worth of credit and an amazing credit score.
And if I hadn't done that credit class, I probably would eventually figure it out but
it's a faster path.
You pay someone money who's already been there and done that, who's willing to teach you
and if they're legitimate, typically it works out.
And just a third quick example of why you should pay for a mentor because it's a faster
result.
I did a YouTube class with one of the top YouTubers in the world, actually I was in
one of his videos.
Maybe I'll put the link at the bottom.
But I learned how to be more strategic with my videos and now making money with my videos.
Now, I see you know the potential with YouTube.
I always recommend paying for mentors, but if you can't there's plenty of freeways like
I mentioned below, YouTube videos and then just bringing leads to local investors.
But definitely try to get a mentor of some sort.
Okay, tip number two is to do multiple forms of marketing.
The best position you want to be in as a real estate investor or marketer or business person
is having several different things going on and only needing one of them to work.
What I like to say with new real estate investors is maybe have one, two, three different marketing
strategies going on.
And you only really need one to work, you're not desperate for any one deal.
A couple examples of three different marketing strategies.
You could do direct mail to absentee owners that have lived in the property for at least
10 years in kind of an up and coming neighborhood.
You can find that list on ListSource, and just send them direct mail saying, "I want
to purchase your house, my phone number."
And actually you could get the direct mail piece I use on my website with the link below
and that is one proven marketing strategy.
Direct mail has been working for years, it's going to continue to work, especially with
everything going on in the internet.
People think you have to be only doing internet marketing and so less people are kind of doing
the direct mail.
It kind of almost gives you an opportunity with the rate of progress with internet marketing
and everything like that.
Another type of marketing you can do for deals is cold calling.
You could cross reference, do not call us with a list of phone numbers from again an
upcoming neighborhood or a neighborhood where you'd want to potentially buy properties and
just go through that list.
And if you make a 100 phone calls a day or maybe 200 phone calls a day and let's say
5,000 per month, and most people are not going to pick up and most people probably won't
be interested.
But if you do enough, you're going to find some people that are looking to sell their
house quickly.
That's another quick strategy where you can start getting leads every single day.
And then lastly, you could do networking.
There's a lot of real estate investors who their only strategy is networking.
They're just very well connected with all the real estate agents, all the real estate
investors so that can be another really good strategy.
You should play to your strengths.
If you're a really good networker, try to network with as many people as possible, let
them know you're interested in purchasing houses and you can start to get some deals
that way.
Every single week you should be going to meetup groups, REIA groups, different types of real
estate networking groups and you never know where your next deal is going to come from
if you expand your network.
Tip number three to becoming a better real estate investor is to publish your journey,
so to speak as a real estate investor.
People are interested in that, most people are not real estate investors, it's interesting
to see.
Today I did this.
You can have a website, you can have a YouTube channel like this, maybe you just post it
on Instagram, but people are very fascinated by that.
You can build up a following and you're also going to become a better marketer by publishing
this information.
Not only are you going to become a better marketer by trying out different strategies,
whether it's blog, YouTube, Instagram, Facebook, whatever it is, but you can also teach people.
You can say, "Look, this is what I did today and I've learned this."
And by teaching the material, you're going to become a lot savvier and you're going to
understand the material at a much deeper level than just doing it.
One thing that drastically changed my business was when I started publishing information
guys on real estate investing.
As a full-time real estate investor, I was like, "Maybe I shouldn't publish information
on, how to invest in real estate, how to find deals, how to become a full-time investor,
different things like that.
I've published different information guys that are available on Amazon, and entire book
series.
And that's really helped me understand the material a lot more.
And it's also helped thousands of real estate investors across the country because I get
DMs and emails and reviews all the time saying, "Oh thanks, your book helped so much."
Because I try to make my books straight to the point based on real life stuff that I'm
learning in the trenches, so to speak.
Tip number four is to try to outsource as much as possible.
With real estate investing what you want to do, you want to figure out how to do it to
the best of your ability and then try to outsource that.
For example, you don't want to be taking phone calls.
Like me, I have a phone answering service, I outsource that.
A lot of my marketing as far as graphic design and things like that, I outsource.
My direct mail, I'm not handwriting the letters or anything like that, that's all outsourced.
Video editing for the most part is outsourced.
If you want to try to scale your business, you're going to have to really think about
your time and really try to outsource as much as possible so that you can focus more on
the big picture items and just finding deals or maybe publishing content and really building
a team.
Tip number five to becoming a better real estate investor, especially if you are newer,
is to start with the smaller deals.
Because I have newer investors all the time, they bring me deals that are like, land development
for $10 million and deals that are just way over their head where they just don't understand
the complexities, myself included, like I don't understand the complexities of some
of those deals.
As a new real estate investor, you should start small.
And it's not to say you can't do bigger deals.
I mean, there's an investor in my area, he started by buying little row houses and now
he's doing literally a $2 billion development in the city.
You can definitely work your way up there, but he didn't start with it.
He probably did row house, he maybe did some small multi-family and then kind of worked
his way up from there.
Start small, but keep an eye on the big picture.
If you want to get bigger, that's fine.
Some people prefer the small deals, some people want to really scale it up, but start small
and kind of build that experience before you take on too big of a deal.
Okay, thanks for watching this video on Five Tips to Becoming a Better Real Estate Investor.
And please like, please share, please subscribe and I will see you in the next one.
All right, bye.