Education vs Taking Action

Are you guilty of learning to death and have nothing to show for it. Have you been trying real estate for 1 month or 1 year and haven't made an offer yet. Steps on how to take your education and use it to build your confidence to get those offers out there.

Here are some of my favorite quotes…

• “I cannot talk to buyers until I have some deals to present to them.” How are you going to know if they are good deals if you do not know what their criteria is? You have to get at least a couple buyers to know you’re looking into the right direction and have a basis to run your numbers.
• “Once I know everything about talking to a realtor I’ll make a couple calls.” You cannot learn everything about talking to a realtor without talking to a realtor.
• “I’ve to learn more about how to run the numbers before I start making offers.” Yes, know how to run the numbers. But making offers is what gets you in the game. So come up with a numbers system that meets your market and buyers needs and start using it.
• “They won’t take that low of an offer.” How do you know unless you make the offer. Build your system so that you can make an offer in very little time.
• “I offered on that property and they said no, so it’s a dead deal.” Really, is it really dead – just because their motivation wasn’t high at the first offer, things could have changed in the last 3 weeks. Offer again.
• Student “This system doesn’t work” Andrea “Really, how many offers have you made?” Student “Well, I made 2 offers and both came back no” Seriously, 2 offers and you’re working a system. A 25 – 1 offer system and you’ve made 2 offers.
• I’m not going to sugar coat this either, You will probably have to make more than 25 offers to get a deal. The market is changing…there are more buyers out there, but more competition out there. So it is imperative that you make a lot of offers to get your share of the deals.

The reason this topic came to me was working with a student, Tina from Las Vegas. She spoke about her experiences getting started. She talked about wasting lots of time researching, learning and not really “doing” anything. She finally made that call to 5 realtors – and before she was done she realized that she knew as much if not more than they did. So you do – now put that to work!

1. Build a buyers List
2. View Several houses in your target areas
3. Practice Running the Numbers
4. Most Importantly – MAKE OFFERS!
5. Then Re-offer if you got a No and it is still on the market

Figure out your time schedule…

Do you have 1 hour a day?

Do you have 30 minutes?

Do you have 15 minutes?

Do you have 4 hours on a weekend day?

Find a balance…keep learning as you go, but do not become victim to learning to death.

Now you know I’m a fan of doing something every day to move yourself forward.

Some days it is worthwhile to spend some time on education.

• Get on here and participate in a chat, read a contribution, pick out a chapter in one of Dean’s books…a personal favorite is 30 Days to Real Estate Cash
• But do not spend more than 50% of your time learning and not taking action…
• For example reading the 30 Days to Real Estate Cash is great, but really the book is a work book.
• Each chapter gives you a task to do, one day read a chapter…then make a plan of action for the next day. So on and So on.
• Make sure that you are spending at least half your time taking action…
• For two reasons
• 1. Taking Action Helps your Learn. Theory is great, but it is just that theory and information. Without a practical application it doesn’t mean as much.
• Think about it like any students in science/medical education. They have class and they have clinicals…real hands on education to help them understand what they’ve learned.
• 2. Taking Action is what GETS RESULTS. Without some action, you will not get the results you want.
• Make sure that the Action steps are productive.
• Don’t just spend your time looking at deals on line and don’t spend days looking at properties every weekend, without making offers.
• Getting the point here…Make offers!

So to recap:

1. Build a buyers List
2. View Several houses in your target areas
3. Practice Running the Numbers
4. Most Importantly – MAKE OFFERS!
5. Then Re-offer if you got a No and it is still on the market

Overall you need to…

1. Evaluate your time available
2. Find an Education/Action Balance – like work life
3. Actually, exactly like work life. Don’t just work, take action so your work means something
4. Schedule your days
5. Make a commitment to what you’re going to accomplish each day/week
6. Just Do It!!!