You can Never be to prepared.
When you’re new at something, you just don’t know what you what you don’t know, and most likely you’ll be unprepared when the dog-doo hits the ventilator.
But you live and you learn and prepare for the next time.
Like what happen to me yesterday.
I did another interview with a very important person, and the desktop recorder failed and didn’t record. Lucky, this has happened before (funny how they happen in the worst times) and I had a backup physical recorder.
My lesson for next time: Have a physical checklist before I go on to make sure that everything works.
In REI this applies equally.
For instance what I’ve learned from my own experiences and from interviewing others:
Not having any money as a reserve for a rehab project.
Not getting “promises” in writing (like the seller saying they’d pay the taxes but bailed on you – I should have lowered my offer to begin with and paid taxes myself… or any other important agreements you make with people; down the road people forget things for easily)…
Not having back up contacts for handymen when you’re handyman/contractor is lagging and being a bonehead…
Not having exit plans…
Only using one source/house for comping when there’s plenty of others.
The list goes on.
And business/entrepreneurship/real estate investor is all about live-and-learn moments that no amount of reading, coaching, or visualization can prepare you for the real world of business…. Hopefully you learn from it and prepare for next time.
There’s one other subject that many people don’t prepare for… and that’s only having one source of deals.
One source of anything… is no bueno… it can mean your business collapsing over night.
… like what happens everyday when Facebook “Jails” people that are advertising in ways they don’t like,
.. and what happened in the early 2000’s when Google slapped down top ranking businesses that were gaming the system and profiting in the 7-8 figures all on Google alone.
For real estate investors, that could mean your text messages being blocked (which is happening because too many investors are using non-spam compliant methods and tools to text)…
… A new manager takes over the park you’re farming…
… Cold calling starts getting “legal” notices with all the complaints…
… your response rates in mail start to drop because of a huge influx of new investors (which incidentally, my new book and membership launching soon seeks to dissolve that “problem”)
There are all sorts of problems that can occur from just having a “one” source of anything…
And for lead generation, tapping into online offers a solutions to many of those.
To get you site up and running and to learn the willys of online marketing (which doesn’t take too learn but takes time or money or rank)…
Go to my affiliate link:
Become a member, and host your site that comes with free articles every month (which I still use today)..
… and I’ll get on the phone with you discuss copywriting and campaign ideas for your site to help you stand out as well as CUSTOM write a page for you
If you already are a member, purchase their 3-leads per day training, I can still jump on a call with you to discuss ways to stand out from the masses.
“Keep moving forward in your REI venture”
Paul do Campo
I’ve spent many hours learning and implementing marketing methods in REI, chasing sellers, and building cash flow streams… and I show you what works and what doesn’t from real-world investors in the trenches today through my daily tips, articles, and audio interviews at www.realestateaudios.com
Call or text if you need anything: 909-614-9473
6939 Schaefer ave Ste D #254
Chino California 91710
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