Business Management

This Lesson From My Mastermind Group Completely Changed My Real Estate Business

Expertise: Real Estate Wholesaling, Real Estate Marketing, Business Management, Personal Development, Flipping Houses
63 Articles Written
idea-mastermind

So far this year, I have been trying hard to implement intense focus — and it has already changed my business. I am referring to a high-intensity focus on one thing until you master it. In previous years, I had scattered focus. And looking back, it was too early to scatter my focus. I was an educator, rehabber, landlord, and wholesaler. I’d seen others do it, and I just knew that was the way things were done — and besides, doing all that sounded really cool. Right? It’s like you can do everything. It’s a great bragging piece as well — at least that’s what I thought. Well, last year I joined a high-level real estate mastermind titled “Collective Genius.” I can’t share any details so I will give you an overview.

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The Invaluable Lesson I Learned From My Real Estate Mastermind

Last year, I had about 5 rehabs or so going on at once with a partner. I knew for a fact I was going to have a rockstar year. Three of them we were set to make 6 figures for the year as projected profit. I also joined the Collective Genius. In this mastermind, there were so many heavy hitters, it was completely mind-boggling. I’m talking everyday Joes we will never hear of who are completely dominating their local markets. I went into total shell-shock because I came to the realization that I had not been doing much of anything with my real estate business. I wanted to implement everything as soon as I got home. There was one problem — my rehabs were going over budget, staying on the market longer than they were supposed to, and, of course, in the end, we made very little money on them. It was a BIG learning experience for me. Oh yeah, by the way, I had hard money payments, I had to run my wholesaling business, and, of course, I had to maintain my personal lifestyle.

flipping-hot-market

Related: 3 Steps to Identify Your “One Thing” (& Start Rescuing Lost Time!)

I forgot to mention that Collective Genius is a traveling mastermind. We met 3 times last year. I sat in these 3 meetings soaking up all the knowledge, knowing things were not going as planned in my personal business. I noticed one thing about all the investors, both men and women, who were there: They had highly intense focus. They knew what they were good at, and they got it automated. The people who were rehabbing and wholesaling mastered one thing, automated it, and then moved onto the next thing. I mastered wholesaling, but never automated it. As the fourth quarter approached, I fortunately started to see some light and began to have some breathing room in my own business. I decided not to monetize my education business, to slow all the way down on rehabbing, and to focus on marketing and wholesaling. I then made the big leap and hired an acquisitions manager in the fourth quarter of the year.

What I’ve Accomplished With Intense Focus

Fast forward to the first quarter of the year — I made $250k, with $150k of that just via wholesaling. I was able to accomplish that with the intense focus on one marketing channel, which was direct mail. I’ve currently maxed out one marketing channel and will soon move onto the next marketing channel. I also primarily wholesale now. Before, I was ashamed to say I was just a wholesaler. Now I realize if I make 7 figures wholesaling, who cares if I only wholesale? My plan is to get better at wholesaling and do some more automation before I jump back into taking on multiple rehab projects again. I am still looking to buy more rentals, but that’s more of a “set it and forget it” model for me. I think I will always use property management for my rentals. I have to give major credit to the Collective Genius mastermind for setting the foundation for all the things I have going on currently. It’s crazy because focusing on one thing has gotten me two speaking gigs — one was in Atlanta, and the other will be at a real estate club about two hours or so from me.

real-estate-professional-status

Related: Overwhelmed? Here Are 10 Steps to Find Your Focus (& Buy That First Property!)

In conclusion, the point of this post was to step back and ask yourself what one thing you’re actively focusing on. That one thing could be rentals, rehabbing, wholesaling, or notes. It may sound foolish, but you can make more money doing one thing than scattering your focus doing five things — and there’s actually less work and stress focusing on one thing. I don’t know about you, but in my case, having more disposable income accelerated my goal to create more passive income. These days, I am very strategic about what I take on. It must make a lot of money that offsets the stress factors involved.

Investors: What ONE thing are you focusing on now? Do you find you do better when focusing on one thing or many items at a time?

Let me know with a comment!

Nasar El-arabi has been involved in real estate for 12 years. During those 12 years, Nasar has wholesaled houses, rehabbed properties, built new properties, created a buy and hold portfolio, and flipped land. Nasar identified early in life he wanted to have his own business. Fortunately, because of parents who instilled an entrepreneurial spirit in him, he was able to build a seven-figure business after being terminated from his job in September of 2012. Nasar has gone on to become a successful real estate investor in Charlotte, N.C. Nasar has over 100 videos on YouTube and runs a blog at RealEstateDoru.com.

    Brian Gibbons investor from Sherman Oaks, California
    Replied over 3 years ago
    Nice article Nasar! I focus on home seller problems with pretty houses in A areas, tools to solve the problems are sub2, wrap or lease option assignments. No banks, no credit, just the ability to listen to the seller and talk & implement solutions.
    Nasar Elarabi flipper_rehabber from Charlotte, NC
    Replied over 3 years ago
    Thanks for reading and that is a great niche.
    Narelle Myke from Newark, NJ
    Replied over 3 years ago
    Congrats to you Nasar and great article. This past year I’ve also learned that having clarity and being able to streamline my thoughts and actions is such an essential part of both my business and personal life. The ONE thing that I am focusing on now is identifying creative and conventional methods to finance my real estate projects.
    Nasar Elarabi flipper_rehabber from Charlotte, NC
    Replied over 3 years ago
    Thanks and Clraity can increase your income by ALOT. I wish you well on your Journey. thanks
    Paul MacInnis investor from Windsor, Nova Scotia
    Replied over 3 years ago
    I really loved this post! Especially as I’m reading The One Thing right now! I have a small portfolio of small multi-units and after humming about flipping – I’ve decided to just keep going with this! Congrats on your success!
    Nasar Elarabi flipper_rehabber from Charlotte, NC
    Replied over 3 years ago
    Paul, Yes Focus on 1 thing master that then move on. You will be very happy you did. Thanks for reading
    Nasar Elarabi flipper_rehabber from Charlotte, NC
    Replied over 3 years ago
    Congrats to you man. And Yes I feel that running a 6 figure business was not enough for me. I have bigger goals and decided to step back so I can grow my business ALOT more. It seems like you are pretty successful. Keep it up man and thanks for reading.
    Katie
    Replied over 3 years ago
    Maybe when he is talking about education, he is not talking about real estate. I personally know an investor who trains people to do their personal taxes at a local community college. You made an uncalled-for comment based on some uncalled-for assumptions. By the way, that great old saying is bunk. Ask Bela Karoli.
    Curtis Waters from Charlotte, North Carolina
    Replied over 3 years ago
    Great article! I see the value of focus in my biz – and going to target my focus even more in 2016.
    Nasar Elarabi flipper_rehabber from Charlotte, NC
    Replied over 3 years ago
    Curtis, Yes Focus is extremely important and thanks for reading
    Pete T. from key west, florida
    Replied over 3 years ago
    Nasar, great article, not sure I get the angry comment above, but way to handle the bs professionally as well.
    Nasar Elarabi flipper_rehabber from Charlotte, NC
    Replied over 3 years ago
    Pete, thanks alot. It’s fine everyone is open to share their opinion.
    Julie Rogers from North Lauderdale, Florida
    Replied over 3 years ago
    Goodness, seems like someone, you, that, supposedly, has done so much, would have a better disposition. Nasser, great article! Best of Luck on your endeavors!
    Earl Minnis from Santa Barbara, California
    Replied over 3 years ago
    Julie, I have a very negative disposition when it comes to misrepresentations and lies about a field of business I have been intricately involved with for 40 plus years. Virtually all of these so called “educators” know next to nothing about what they are talking about and maybe in the business for a few short years. The people that are really in the business of buying to hold or resell I assure you do not have the time or inclination to be involved in these bs blogs or postings. I am pretty much retired and just keep my money invested in hard money deals and watch with amusement the goings on in the business. The education business has exploded with charlatans, wannabes and outright crooks. Check out John Schaub out of Florida if you want to learn some pertinent stuff from someone who has really done it and won’t cheat you out of thousands of dollars. Good luck, Earl Minnis
    Katie
    Replied over 3 years ago
    So you double down on your unfounded assumption of what he means by “education”?
    Earl Minnis from Santa Barbara, California
    Replied over 3 years ago
    Katie, that’s what you got out my response to Julie? Boy, oh boy. Why don’t you ask Nassar what he meant by education. If you took 5 minutes to check him out he does Live Training Events. Do you think he is talking about how to start a plumbing business? As they say ” no good deed goes unpunished”. Just trying to give you all some helpful advice of what to watch out for. Another favorite of mine ” a fool and his money will soon be parted “. Check these people out who you want to listen to. How much property do they really own ? How much equity is really there? It’s easy to own a bunch of houses with no equity. How old are they? Do they really have the years in the business and experience they say. I believe nothing of what I hear and half of what I see. Am I jaded? No, I just acknowledge reality and my life experiences of watching the “educators” come and go over 40 plus years. Look up Dave Deldotto and Tommy Vue. Two of the big real estate seminar givers of I believe the 80’s. Dave went to prison for tax fraud and Tommy had never owned a property, but they were selling out venues telling people how to buy properties and get rich or retire in a few years. This business is a ton of fun and takes total dedication and is a young persons business. A lot of sacrifices. Earl Minnis
    Earl Minnis from Santa Barbara, California
    Replied over 3 years ago
    Katie, Earl here again. Please spend 10 minutes and goggle Tommy Vu and Dave Del Dotto. All your questions and everybody else’s of why I say what I say will be answered. Do you see any corilation of what these guys were doing compared to what you all are seeing today.?Hopefully even the blind can see. Take care, Earl Minnis
    Earl Minnis from Santa Barbara, California
    Replied over 3 years ago
    Katie and Julie, what’s the matter, no comment? Earl Minnis
    Earl Minnis from Santa Barbara, California
    Replied over 3 years ago
    Katie and Julie, what’s the matter, no comment? Earl Minnis
    Katie
    Replied over 3 years ago
    “If you took 5 minutes to check him out he does Live Training Events.” Not my job to back up YOUR claims. It is your job to back up your own claims. You claimed he was a RE guru.
    Earl Minnis from Santa Barbara, California
    Replied over 3 years ago
    Katie, nowhere did I mention or use the word “guru”. He is anything but that. Look up the definition. I doubt he is a religious teacher or spiritual guide in Hinduism and he foresure doesn’t talk like he has a lot of experience or knowledge in real estate. You believe what you want . You surely appear to believe he is something that he is not and that is ok with me. Again , check out Tommy Vu and Dave Del Dotto for some history in this area of the business. You seem fixated on me extremely doubting that he is who he says he is and that I doubt he really knows much about the business or really has much experience. Maybe your not really who you appear to be. Maybe your Nassar using another name. Who knows with all this bs technology today. Feel free to check me out, goggle me , spend 200 bucks on a private investigator. Call a title company in San Bernardino or Riverside counties and have them run my name. I have no issue with using my last name, you appear to. Take care, Earl Minnis Santa Barbara, Calif. ps I’m done with the pissing contest with you.
    Katie
    Replied over 3 years ago
    The word “guru” is irrelevant. However, the way you describe RE educators is precisely the way Josh and Brandon describe RE gurus. So whatever.
    Chris Luksha from Jaffrey, New Hampshire
    Replied over 3 years ago
    Ethe cool part t about this is that as a beginner, I can and should do the same. For example I need to focus on learning a broad view of the real estate investment arena for a short term, say a coupke months, then start narrowing my focus to a piece that I feel is the direction I Inc wish to head and focus on learning that arena, while at the same time starting to impliment strategies to succeed in that arena. I cant learn all there is to know, nor should I try at first. I can however drink from a firehose of information and continually sift it to only the stream I want then ope that pipeline for greater volume. At the same time as newbies we cant get so hung up on education that we dont do. I am excited to be narrowing down my desires to small multifamily rentals at this point. Now I will be learning focused subsets that will hep in othere arenas as well km but primarily now in multifamily. Eg. Finding the rental prop tha is waiting out there to be my first purchase and then soliciting other people’s money to finance the deal. I am pumped to be getting into this and overwhelmed at the same time. Thanks for all the great resources BP. (And thats just th he free membership for the last two weeks.)
    Chris Luksha from Jaffrey, New Hampshire
    Replied over 3 years ago
    My last comment is a perfect example of why you should never type quickly on a small tablet and click reply without rereading. Sorry all for the bad foot forward on that one. I owe you better. Even typing this out my tablet added four extra words and numerous letters that I had to fix. My apologies all – Chris
    Chris Luksha from Jaffrey, New Hampshire
    Replied over 3 years ago
    Ethe cool part t about this is that as a beginner, I can and should do the same. For example I need to focus on learning a broad view of the real estate investment arena for a short term, say a coupke months, then start narrowing my focus to a piece that I feel is the direction I Inc wish to head and focus on learning that arena, while at the same time starting to impliment strategies to succeed in that arena. I cant learn all there is to know, nor should I try at first. I can however drink from a firehose of information and continually sift it to only the stream I want then ope that pipeline for greater volume. At the same time as newbies we cant get so hung up on education that we dont do. I am excited to be narrowing down my desires to small multifamily rentals at this point. Now I will be learning focused subsets that will hep in othere arenas as well km but primarily now in multifamily. Eg. Finding the rental prop tha is waiting out there to be my first purchase and then soliciting other people’s money to finance the deal. I am pumped to be getting into this and overwhelmed at the same time. Thanks for all the great resources BP. (And thats just th he free membership for the last two weeks.)
    Christopher Salazar investor from Chicago , Illinois
    Replied over 3 years ago
    Thanks for the great post! This is perfect timing for me.
    Gisele Massa from LONDON, ENGLAND
    Replied over 3 years ago
    You’re absolutely right Nasar, step by step. I focus all my energy on GOOD marketing + wholesaling, until I master that I won’t move to the next thing. Thank you, that’s a good reminder
    Earl Minnis from Santa Barbara, California
    Replied over 3 years ago
    to Chris Luksha, I have a wild idea for you. Why not work and save your own money to buy your first piece of real estate. That way you’ll be invested and dedicated to your investment. You can then be proud of what you have accomplished. Getting others to put up the money is not going to teach you much. You have nothing to loose if others put up the money plus it will not be pretty if your idea goes south and you leave others holding the bag. Depend on nobody but yourself, it works pretty well. Teaches independence. Something our younger society is desperately lacking. Good luck, Earl Minnis
    Katherine Conner
    Replied almost 3 years ago
    Earl Minnis you are a serial poster and don’t believe anyone can succeed by an education in real estate. I am curious why? Have you had some bad experience with spending your money on the wrong person. You said The people that are really in the business of buying to hold or resell I assure you do not have the time or inclination to be involved in these bs blogs or postings. So why do you bother? If you are doing well then go do it and stop putting others down. Some of us are interested in the information.
    Frankie Woods investor from Albuquerque, NM
    Replied over 2 years ago
    Excellent post. I think my next step is to focus on Direct Mail. Les go!