Wednesday, September 7, 2011

http://bit.ly/onUX9C Fishing and Real Estate Investing are sometimes very similar. The key is to find the Big Ones as quickly as possible.
I have been a fly fisherman for years and even dabble in tying my own flies. One thing I learned a long time ago is that the really big fish are not the ones you see hitting the flies on the surface. No ... the really big fish don't like to waste that much energy. They like the food to come to them.
Polarized sunglasses will let you see the really big fish sitting quietly behind each rock and stump on the bottom of the stream. They sit in the slack water behind the rocks waiting for bits of food to flow by on the current. Then they just turn their heads and gulp it down and return to their resting place.
The secret to being a Real Estate Big Fish is to set yourself up so that the flow brings profitable projects right to your desk. The term most experienced investors will use for this is Deal Flow. It's when properties come your way every day in a continuous stream. 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) Set Perfectly Clear Goals

Grab a pen and some paper and write down your goals for your Real Estate investments in the next 18 months.

How many properties do you want to buy?
 What dollar value and how many projects will you take on?
 How much do you want to add to your net worth?

Once you have the answers and you are absolutely clear on what you are looking for move on to step two.

Step 2) Constructing Your Network
Shout it out. Tell your goals to EVERYONE you know. Especially people who have a business reason to help you. The more people you tell, the more people will be in a position to give you just what you are looking for. And people love to help. I can guarantee you this ...  If you aren't seeing enough profitable deals flowing to you right now it is only because not enough people know your goals and what you are looking for.
The Size Of Your Network Is The Key. So Let's Power 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

A bunch of Brokers & Agents
a couple of Title & Escrow Companies
Your favorite Real Estate Lawyers
Several Mortgage Brokers
CPA's
Appraisers
A Property Manager or Two
Bankers/Lenders
 1031 Intermediaries and any more you can think of

Everyone you know and everyone in your target market who would profit from helping you on a project - and TELL THEM ALL what you are looking for 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

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