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Fishing and Real Estate Investing are sometimes very similar. The key is to find the Big Ones as quickly as possible. I am a fly fisherman from way back. Even tie my own flies on occasion. 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. The biggest fish don't spend that much energy. They like to be served their dinner in a more quiet fashion. 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. It's called Deal Flow ... when you see multiple profitable projects flowing by your eyes every day. 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) Clarity on Your Goals Think for a second ... what are your Real Estate and Financial Goals for the next 12-18 months? - 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 to add to your net worth? When you are crystal clear on your answers to these questions, you are ready to move to the next step. Step 2) Network Building Get the word out. Let EVERYONE you know in on your goals, especially if they have a business reason for helpin you reach them. The more people who know your goals, the more people who can help you reach them. You know, people really do love to help and I will go so far as to guarantee you this... If you are not satisfied with the number of deals coming your way it is because not enough people know what you are looking for. Network Building: Bigger is Better Amp It Up Make a conscious plan to expand your network with people who you know can help you reach your goals. Make a list of your current network and choose - several Real Estate Agents/Brokers - A Title Company or three - Real Estate Lawyers - Several Mortgage Brokers - Book keepers and a CPAs - Some Appraisers - Property Managers - Bankers/Lenders - 1031 Facilitators and others 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. Now let's put it into high gear. Step 3) Put Energy in BEFORE You Expect a Return 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 Key? Give others what they want and they will give you what you 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) Get Clear on Your Goals 3) Grow Your Network and Feed it Well 3) Help Network Members Whenever You Can Remember the big trout at the bottom of the stream. The current brought the food right to them. Your Network will do the exact same thing. Your Network is your current. These three steps implemented every day - make it a part of your basic routine - will allow you to generate your own Deal Flow that lasts as long as you continue to feed your Network. You will be able to relax like the Big Fish in the river and let the deals come to you you snagging only the best ones - the ones with the most "meat on the bones" for your very own.
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