What is the Holy Grail of Real Estate?
When I work with new investors I find that most of them are looking to me to provide them the Holy Grail, the single source key for the mother lode.
They ask, “What is the absolute best way to generate leads, or the best script to use. How can I go from broke to filthy rich in 30 days or less?
What is the one secret that if I learn and apply it untold wealth will be mine?”
They say, “I know it must be there because I see these guys on late night TV, I know because I’ve been to a seminar, I know because I bought these CDs….”
Living in Florida makes this even more entertaining because long before the Pilgrims landed on Plymouth Rock, a Spaniard named, Ponce de Leon, was roaming through the Florida swamps looking for the fountain of Youth. I actually visited it last year and even had a sip of this rather vile water, I honestly didn’t feel any younger and now a year later, my grey hair remains. Anyway, back to the story.
Like Ponce de Leon, investors looking for the one and only secret to success are fooling themselves.
There are many excellent techniques for buying, selling and holding properties; for dealing with lenders, contractors and tenants, but the fact is this, each technique is merely a tool. In many cases an extremely valuable tool that if used correctly or in conjunction with other tools/techniques will yield very profitable results. By using these tools over time you can indeed build massive wealth. Wealth creation should be systematic, planned, intentional and progressive. If it comes by accident, it could just as easily go the same way.
We have all seen the TV commercials. We have all wondered, can anyone really do that?
The techniques that I will share with you are actually techniques that are great for real estate but many can be applied elsewhere in your wealth creation and investment plan. Some techniques are no money down techniques, some are not. The techniques that I am going to share with you can be used individually or in a combination of two or three techniques together because no two real estate transactions are exactly the same.
You may need two or three techniques to get the transaction completed and maximize your profits. By reading this blog you will learn ideas and techniques that when integrated into different combinations create hundreds of different techniques that you can use to transact good and profitable deals no matter where you live in this country.
Start a Intellectual Toolbox of Techniques
So, I just want to share with you right now that the first thing you need to be aware of is that many of these techniques are just simply that. They are just techniques; tools for your intellectual toolbox. As I said a moment ago, no two real estate deals are quite the same.
And so, because there are no two deals that are the same, you can’t universally apply one single technique across the spectrum of opportunity that will cross your path. You can’t rely on applying two techniques or even 10 techniques to every single deal and have maximum results.
I have watched newbies try to apply one technique to every deal that comes along. They get frustrated and want to give up. They feel as if they are doomed to failure. Occasionally they do find an opportunity – a property – where they can employ the one technique that they have and they do a deal.
I encourage you as you read these posts to think about how many techniques and tools you can add to your tool box that are going to help you recognize and profit from every single opportunity. Tools and techniques that will allow you to deal with virtually every property that comes along.
Starting Now You Will Have the Tools
When other investors don’t know what to do, you will be able to pull a different tool out of your toolbox, a different technique, a different combination of techniques, and you will be able to be successful where they weren’t.
And as you employ these techniques and combinations of techniques, employ intellectual capital with creativity!
To your success,