Step back and took a look at your life and observe where you are currently at. Are you currently happy with where you are and what you see?
Are you living the lifestyle you have always wanted?
Are you stable and where you want to be financially?
If not, it may be time to invest in your education and your future, but it's tough to decide who to trust and what REALLY works. Trust me, I know, I was a beginner once, too.
A lot of gurus out there teach old, dead-end information. Many of them leave out the important parts that actually helped them achieve success so they just waste your time. It's even worse if they aren't even currently investing, which means they are totally out of touch in knowing what is ACTUALLY working in this competitive real estate market. I've heard from many of my students who invested with other coaches before using my program really felt like they were just throwing their money away.
They give you blanket information and claim each one works for every market, but in reality, we know that markets in the Midwest need different marketing strategies than a market like Seattle, Vegas or Los Angeles.
All of the e-mails, free books, webinars and courses can get overwhelming and make you feel like you are going in circles. Especially when your brand new and it's all coming at you at once.
"Find a deal and get it under contract" they say.
Well great, but WHAT contract?
"Find motivated sellers" they say.
Well, what do I say to them once I get them on the phone?
I look at it like this, you have two choices:
- Live paycheck to paycheck and just accept that's how your life is going to be
- Figure out how to get the education you need to get paid RIGHT NOW and automate your business
Mistakes New Investors Make
Did you know the average profit on a real estate deal nationwide is $27,000 and you should earn at least $10,000 on your 1st deal even if you screw it up and make a few mistakes in the process? (I don't care if you make mistakes. Just get your 1st deal done and learn from them!)
If you constantly worry about making mistakes, you'll never do a deal because you'll never try... which will result in you and your family missing out on a lifetime of financial freedom.
In order to help avoid these mistakes, I put a list of 10 big ones together with SREC's Head Coach, Kyle Garifo.
Mistake #1: Bad planning
Mistake #2: Under budgeting property repairs
Mistake #3: Add-on's
Mistake #4: Missing the ARV
Mistake #5: Financing costs
Mistake #6: Holding costs
Mistake #7: Contractors missing days on the job
Mistake #8: Markup with materials
Mistake #9: Not selling your property quick enough
Mistake #10: Your buyer flakes out
You can watch the full video of our biggest mistakes below:
4 Tiers of Investing
I know I've said it a million times - things that are holding people back from starting their real estate investing career are the inability to find good deals, the ability to automate their business and the FUNDING.
Let's talk about that for a minute - did you know there are 4 Tiers of Investing? Let me explain...
When I got started, I didn't really have any of my own cash, so I started in Tier 1. You don't need any cash to use these strategies - at this level, you would do things like wholesaling. This is really the best place to start to get your feet wet.
Next comes Tier 2 - you can also do Tier 2 strategies if you don't have very little or no cash. This is the Creative Financing like controlling properties without buying them and creating cash flow every month from these properties.
Moving on to Tier 3, you do need to have some cash to do these deals and I'll show you how to get it no matter what your credit score is or what your financial situation is. It really doesn't matter. Tier 3 are the Fix & Flips, my specialty. Buy deals in the right area at the right time and make BIG profits.
With this tier, it involves a little more education and research - you have to know market segmentation and zip code matrixes. This is what all businesses need to be able to scale and grow their business.
When you graduate to Tier 4, you can sit back and relax and let the passive income checks flow in every month like clockwork. This is where the true wealth building is - finding and buying cash flow property for retirement.
Which tier do you currently fall into? Are you working in multiple or just thinking about getting started with some Tier 1 strategies?
30 Day Fast Track to Success
We are in the PERFECT position to capitalize in the real estate market right now. There is no better time to get started. BUT in order to be successful, you HAVE to have a proven system to make it.
I would like to help you do it in the next 30 days. This brand new master class was created to help you reach this goal. We will walk you through the 8 Core Fundamentals to the real estate investing business, take a deeper dive in the 4 Tiers of Funding and receive a 30 Day Step-by-Step Action Plan.
CEO Strategic Real Estate Coach
CEO Freeland Ventures and Freeland Lending
CEO Yellow Jacket Properties