Session with my mentor.

Hello everyone,

Recently I had the pleasure and fortune to sit down with a local investor/mentor to have a “one-on-one” chat. I really I admired his straightforwardness, he never beats around the bush, or even waists time on an unnecessary word, straight to business. This is not only something I would like to emulate literally but theoretically too, in regards to running my business.

The mentor I had the chance to sit down and talk to is president of a local REIA and has his own education program that you can participate in much of which is offered freely.

He gave me some excellent things to practice and here is a quick summary of what we went over:

• 1) Every network event, meet 10 people. Then, call them and connect with them. Tell them what you’re looking for and they will tell you what you are looking for. Out of 10 people what are the odds of them or them knowing someone that has what you are looking for (whether it be a deal or for me, a day job).

• 2) Qualifying a buyer: he gave me a few questions to start out asking buyers in order to qualify them.

a.Cash or Mortgage

b.How many projects can you handle at once?

c. Do you fix and flip or buy and hold?

• 3) Read 30 mins a day, (I actually prefer 1 chapter a day). He gave me a few new books to check out.

a.Ultimate Sales Machine – Chet Holmes

b.Goals – Brian Tracey ( I’m excited for this one, I’ve already heard some of his self-discipline material. Great stuff.)

• 4) Watch 15 mins a day of you tube videos pertaining to my current chosen strategy of real estate investing.

• 5) GOFP – Get on the ****ing Phone. Perhaps for me the most intimidating one of all... We agreed that I needed to try and find one deal by the end of the week. Call 5 People a day. The good thing about getting on the phone is that even if nothing comes of it, at the very least you are conditioning yourself. A great thing he said next was, every time you get stuck on a phone call, write down what you got stuck on and go research it after words on Youtube. We decided the most effective way to find a deal by the end of the week would be as follows.

a. Estate Sales

b. Craig’s List

c. KSL (a local classified site)

• 6)One of my biggest questions coming into the session was how to estimate repair costs as someone with not as much experience like me for wholesaling. I learned from Matt that most repairs are about 20-30K. So always assume that that is how much you need in repairs unless there are some serious issues with the property.

• 7) 3 ways to increase your net worth:

a.Buy Better

b.Pay less taxes

c.Pay less interest

• 8)Pick 3 investors you want to be like, and try to learn as much from them as you can

• 9)The Most Important of them all….

IMPLEMENT

Well folks that’s all for this time! Please, like always, feel free to comment or add anything you feel inspired to add.

Thanks!