Investor Quarterly™ June 2016 - Page 24

they ultimately want to go. They hear they need big dreams and big goals, so now they only want to participate in deals that whoever they heard speak told them were possible. 24 We search through hundreds of deals EVERY month just to be able to present our active investors each month with one to two Deals that have a HIGH ROi [50-80%ROi]. Most of our deals are First Trust Deeds or Cash flow opportunities not Joint Ventures but those are the ones that get us the most attention because of the INSANE ROi. However, it’s like the icing on the cake, we aren’t just focused on a huge ROi because typically with big reward comes big risk. So we have to whittle down through a massive amount of deals to find the diamonds in the rough. Low risk, High reward and we are willing to wait for the RIGHT deals. The biggest reason that most new investors have a skewed view of what is possible, is due in large part, to what their current needs are and where iQ-QUICK TIP What they aren’t being told or hearing is the amount of time and effort that went into making that possible. They are told or assume that just because they understand the formula they are now ready to go. And typically that just isn’t the case. In reality they are extremely underprepared with far-fetched expectations of time line, effort and ease of process. Patience is one of UNDERUSED assets. the most So many investors get emotionally involved and just “WANT TO GO” so they rush research and jump into a deal without the right due diligence. Every time we present a deal, you have to tell us if you are interested and how much you would invest FAST or you will never get into a deal. You then have 1-3 weeks (depending on how fast it moves) to be able to do all your due diligence. We even pull the borrowers credit, check background and bank statements to be able provide to our investors proper due diligence. The last thing before we close is provide our investors a 3rd party after repair value appraisal giving them the ability to make confident investments. WHENEVER you are working with anyone, GOOGLE THEM! I can’t tell you how many times I heard AFTER someone had a bad experience they said, “I wish I would have googled them before I invested.” In this time of super technology don’t be at a disadvantage because you arne’t sure how something works. Expectations decide if you answer... Yes or No. Most people FAIL in real estate and life because they EXPECT too much and are willing to GIVE too little. It’s called the “Entitlement mentality”, The answer you give all depends on what you and most people have it and don’t know it. Until expect to happen. When most people work with you can give up your ego and Put on your ‘Ring each other that’s another challenge. We all have a of Responsibility’ that says no matter what it’s your different version of what “good” means or “fast” fault, you can’t truly get into a place of power. and expectations to go with those meanings. You have to take responsibility for Why is it a NEW YORK minute? Because time EVERYTHING. actually moves faster in New York isn’t the answer unless this is an episode of the Twilight Zone. It’s You heard me correct, but what if it’s not your Fault? because most people in New York move and talk If you want to be a successful Entrepreneur or just fast, just ask ANYONE from the DEEP South. Happy, THAT isn’t a truism for you anymore. All the successful people I have met, been a mentee I read a book or article once that talked about this of or mentored, ALL have had the same attitude from a sales perspective. It said something like, towards responsibility. They all had 3 MAIN things if you want to sell to someone you have to match that stood out: them, pace, tempo, etc. Tony Robbins even talks about this, in fact I think it was him who I heard this They were willing to do whatever it takes. In Gary from. The point of the story to me was people will Keller’s book “The ONE Thing” He actually put in to buy from people that they know WHAT TO EXPECT words something I always did but thought it made from. me compulsive obsessive. He said, “Successful people look at tasks different. They work until the task is complete, where most people work until the When you trust someone, what is that? Think about it, it’s the feeling that you KNOW what day or their shift is over.” SO TRUE. I’ve had such a they would do in a situation. Like if you gave them challenge getting anyone to work for me because money to hold. You probably wouldn’t do that to of this habit. a total stranger but you might to your family or friends. When you break trust into its most basic They were Action Takers. This just means they and simple form, it’s about Expectations. didn’t sit and wait for “something” to happen.