Hmmnnn…is what I said when I initially heard of such a beast!

What is a real estate investor mindset anyway- who and how is it gauged?

Real quickly, do me a favor….just observe these to see if any of them fit for you-

perhaps they will and it’ll give you something new to explore or maybe it won’t and you’ll know that you’ve already arrived!!!

Are we are the “observer”, the director and hence the creator of our reality, our world and our experience?

If  so, be careful of what you think about! for example, have your thoughts ever begun with the following phrases:

I don’t understand…

I don’t want…

I’m frustrated that…

I hate my…

I can’t figure out …

I’m stressed about…

I’m worried that…

I should be able to… but I can’t…

Why am I having so much trouble?

The Law of Attraction is indifferent to the words preceding your thought. Whatever you think about, you will attract into your life.

When you think “I don’t understand why bad things always happen to me?”, you could be “attracting” bad things into your life.

When you think “I want to get out of debt”, you are attracting more debt into your life. When you think “I’m worried I will get sick”, you are attracting sickness into your life! The Law of Attraction brings about what you focus on even if it is not what you want.

Get it?

If you understand this principle, here are some examples of how to make the law of attraction work to support you rather than to act against you.

Try observing your thoughts and changing your thinking in the following way:

“I want to get out of debt” to “I want to earn amazing riches”

“I hate my boss” to “I look forward to owning my own business”

“I don’t understand why he is so lazy” to “I love it when he helps out around the house”

“I’m stressed about this project” to “I always create amazing results in my projects”

“I’m worried about getting sick” to “I experience vibrant health daily”

Now that we’ve further explored the Law of Attraction, it is no surprise why so many people struggle with regards to money. It is been said that “the rich get richer while the poor get poorer”.

Is this actually the Law of Attraction in action?

It’s said that because wealthy people have money, they often think about how to best use their money and hence they attract more money. The concept further implies that  less than wealthy people ( I don’t like these terms at all)  on the other hand often think about their present lack of money and unfortunately, that also attracts lack into their lives.

Currently, 96% of the world’s wealth is being earned by just 1% of the population!

Wow….dee…dow,dow,dowza!

Pretty interesting right? I was floored the first time that I heard about this Pareto principle.

I want to be in the 1% earning capacity, how about you?

When you give it some serious thought-

our minds are yet another real estate investing tool- lol (especially in today’s market!!!)

I suppose that no matter how much money I ever have or don’t have…here’s what I know-

I will ALWAYS have something to work on!

Good thing it’s a journey and not a destination.

To your success always,

Karen

Don’t think for a moment that because these steps are simple that they aren’t powerful because they truly are.

Join  your local REIA Club.

I really believe that it is critical for investors to be a part of their local real estate investment clubs and to attend on a regular basis. Allowing other investors to understand the type of deals that you’re looking for enables them to support your endeavors.

Attending real estate agent seminars are another great way to get your message out to people that aren’t in the circles that we as investors are in.  This is where you’ll meet both realtors and mortgage brokers that consider themselves investor friendly.

Send out an email blast to your entire database.

This is something that a lot of novice or new investors struggle with.  For seasoned investors, this is never a problem as they realize the need to network and advertise what they do.  It’s vital to your success that you claim your role as in investor and also that you let people know what you are doing. Taking the time to write a three to four paragraph email informing your database of friends, family, and colleagues about what you do as an investor is sometimes what attracts your first or next deal.

It does wonders for your own mindset as well!

This is an opportunity to help others to know exactly how serious you are about what you are doing.  If you can’t bring yourself to do this, you might want to go ahead and find something else to do because if you don’t have the confidence to do this, you will never have the confidence to ask someone for a deep discount on a property or ask someone to give you the deed to their house.

Call Your Local “We Buy Houses”, “IbuyHouses” and Home Vestor Franchise.

Take the time to call and meet with these people because they can become one of your greatest contacts.

This might surprise a lot of investors.  “Why would I call another investor?”  We Buy Folks and Home Vestors usually buy houses with the 70% of ARV formula.  They are usually comprised of sophisticated and seasoned investors who usually run into more leads than they can handle on a regular basis.

Post Craigslist Ads Religiously

I’ve always been big on posting Craigslist ads to help find private money, wholesalers, buyers, and deals.  Unfortunately, this free advertising is often overlooked or postponed by a lot of investors to be successful.  You have to post on a continued and regular basis for the ads to work effectively and what I did to over come the extra work and the forgetfulness component, was to outsource this task.

It actually takes less time to repost once you’ve done it a few times, but it depends on how many ads you are posting.  When you close a single deal off of Craigslist, it makes this the biggest bang for your buck as far as advertising and marketing costs.  You can’t expect to post an ad once and expect it to bring you a deal.  Be consistent with this step, it could really pay off!

Listen, Listen, Listen

Sometimes as new investors or educated investors, we want to show people how knowledgeable we are.  Take the time to listen what others are saying as they will often tell you what their hot buttons are and how best you can service or find them a property.  Make it a point this year to truly listen to people as they will tell you their story, their motivation and pain. This is an important tool for a wholesaler because you can’t solve a problem if you didn’t hear it. You will need that awareness to help construct win-win scenarios.

Take Action and Enjoy the Ride!

It doesn’t matter how many action steps that I give people to do.  If they aren’t willing to proceed upon their goals and action steps, there is no force out there to help them become successful.  Now on the flipside, when you are taking action, make sure you are having fun with what you do.

Being an investor is supposed to be fun.  It’s not fun when you aren’t closing deals!  Henceforth, take the required action on the front end to make sure that you are dancing on the back end when you walk out of closings with big checks!

Be Consistent!

To your success,

Karen

Simplify the wholesale process even more.

THREE STEPS TO CASH

1. Wholesale
a. Flip to other investors
b. Flip to homeowners
c. Flip to the network of investors in your local REIA Club

2. Retailing
a. New loan
b. Owner Carry
c. Lease option

3. Holding
a. Rentals long term
b. Cash Flow
c. Appreciation

4. Advantages
a. Wholesale—No cash needed
b. Retail—bigger profits
c. Holding-monthly income, lines of credit, values increase over time

5. Disadvantages
a. Wholesale—need to buy cheap and turn fast
b. Retail—need cash or financing
c. Holding-management along with cash or financing required to purchase plus repairs and maintenance.

Hot Tip

Create cash first!!!! By wholesaling…
Take the baby steps first and get paid while you learn.
Then create wealth
By holding long term rentals
The buy, rent and hold strategy.
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REVIEW:

WHY BUY REAL ESTATE WHOLESALE ?

 No cash is needed
 Close faster because no financing
Many lenders won’t lend on these properties
 Interim financing is easily available
 Bought and sold “as is”—no fix up
 Buy in any area any condition.
 Close via assignments or double closing
 And you usually already have an investor lined up for the property.

BOUGHT Real Estate CONTRACT
Sold as is (flipped) AS IS AS IS AS IS
Basically wholesale properties have a higher than normal motivated seller. The seller needs to sell the house yesterday. Most of the time the poor condition of the property keeps the seller from selling it. There is no demand for the property by your normal homebuyers. But there is a value for the property at a discounted price!

That buyer is a Wholesale Real Estate Investor. WE ROCK!

This is by far the best way to get started in Real Estate Investing. It is the one way for sure that you do not have to use any cash.
This is the main technique that I recommend… to flip properties for CASH!!!!!

If you enjoyed this content and learned from it- please post feedback for me.

To your success,

Karen