After an awesome article last week from our very own “Real Estate Queen” Dominique Osborn about working together in real estate with your significant other, I’m bringing you a post about a strategy I used and still use that helps me get to where I need to be.
As most of you should know by now, I’m huge believer in working long and hard. I also don’t believe in luck and always stress that if you work hard, luck will come your way. Another thing that you will see me stress across the BiggerPockets Forums and my social media accounts is that real estate is a numbers game. The more “numbers” (emails, phone calls, meetings, etc.) you commit to, the more doors will eventually open for you.
I’m sure you have seen me mention the “Peanut Butter Story” in my previous blog posts, but here is a reminder for those of you who haven’t. It took us 10 months of cold calls and emails, along with eating teaspoons of peanut butter for breakfast and drinking $1 gas station coffees to survive before we got our breakthrough. This breakthrough enabled us to sell 22 properties in the space of 3 months.
So remember: Commit to the numbers.
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
It’s Ok to Copycat As Long As You’re Copying the Right Cat
A question that investors ask me quite regularly is this:
“How in the hell did you get to where you are today without any formal education whatsoever?”
My answer is always the same:
“I asked questions of people who already are where I wanted to be, and I studied and copied everything they did.”
Quite simple, wouldn’t you agree?
I made up this quote a while back: “There is no need to re-invent the wheel; just take someone else’s and put it on your wagon.”
Now, don’t take my quote the wrong way by getting yourself into a lawsuit. You still have to add your own personal touch and brand when becoming a copycat. For those of you who have been following me and my company Ohio Cashflow for a while, you should have a pretty good idea of what we do and how we differ.
Please keep in mind that what you see on the front end of our entire business is completely different to what goes on in the back end. Every post and video has a calculated strategy behind it to better showcase our brand, along with generating more hype and buzz about who we are and what we do. I encourage you to take a closer look at every social media account we have, every post we make, every video we do and every blog we write.
And the best part about it all is that everything you and don’t see has been copied from others.
Emulating Experts in the Field
Yes, it took years and years of talking with different experts from within different fields of our companies operations, along with making thousands of minor adjustments to achieve what we have, but still, almost everything we have done has been copied from others, with a few main companies being our main source of copycat-ism (there you have it, a new word for Wiktionary).
In the very early days of my real estate investment journey I was fortunate enough to be taken under the wing of a real estate entrepreneur who has grown his business into a $50M powerhouse back home in Australia. To this date my staff and I stalk his company’s every move — from YouTube videos and social media updates to taking it as far as checking the exact time they send out their weekly newsletters. I also give him a call once in a while to get pointers on certain things associated with what we are looking at doing at the time.
Although it might feel satisfying to do so, please remember to not feed your personal ego by comparing your achievements with that of tire kickers. Focus on being the best you can and look up to the best there is. Stalk and copy their every move. They say that you become who you’re with.
Connect with people who are moving and shaking everyday and shoot for the stars. If you miss, at least you will land on the clouds.
What awesome strategies have you been successful in copycatting?
Let us know with a comment!