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It seems like so many of my students and followers of my podcast have been falling into the default thinking, which is giving the seller all cash or borrowing money to finish the deal because that’s what the seller wanted. However, they didn’t ask all the questions that I give in my training materials to find out what the seller really wanted.
In today’s market, a lot of investors think subject to deals are the answer to everyone’s problem. It’s not illegal but some of the problems associated with these deals are:
Most people aren’t trained to look for opportunity. They are taught to do things a certain way and follow that "formula." Many years ago, I used to spend so much time building spreadsheets to analyze properties that would give me ultimate information that I thought I needed. The problem is those spreadsheets didn’t make me a dime to feed my family. I have found that people who love building spreadsheets are wasting time doing what they like to do instead of looking for deals that has a chance to make money to pay their bills. If you spend time doing everything except what you need to do, you’ll never be a successful real estate investor.
For those who want to be able to make deals without having to get financed through a bank, there are different ways to do this On this episode, I share the steps every investor should take in order to never step into a bank.
When learning how to negotiate, there’s a very important lesson. You need to know how to talk to people. Every day when you get up and run your business, everything is a negotiation. Even though this is a lost art, you must learn how to build a rapport and bond with a seller.
Today, I want to talk about some things that I’ve noticed that’s going on in the real estate market. These things are making me think of the downturn of the real estate market in 2005, 2006 and 2007. Listen as I share what I'm noticing that could possibly make the market decrease again.
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