NEED HELP !!!!!!!!!!!!!!!!!!!!!!!!!
Hell-o all you out there, when you all got started where you nervus about your first deal, I mean kindda scared that you might not know all the answers to sellers problems... I have been studying REI for about five months ,, but I am still kindda nervus about that first call,, I'v sent out mailers from the N.O.D lists that I'v gotten from title companies and have set out flyers all over town,, I just know I'll be nervus about that first meeting with a home owner,,, can any one give me some advice on what you guys did to get over that feeling of not knowing it all.............Thank you,,,,,,really for all your help and wisdom................MD <IMG SRC="images/forum/smilies/icon_wink.gif"> [ Edited by mjdreal on Date 11/01/2003 ]
mjdreal,
REI is a business that has created more millionaires and billionaires than any other type of business. Hundreds of thousand of folks from all walks of life have become successful at this game. With that said, we can all assume that with the right knowledge we can take the right steps. It sounds to me that after 5 months of hitting the books, as you mentioned above, that you now have a good idea of how a deal may be put together, even if you have not done your 1st deal. Although I do not know you, I can tell you that you are suffering from the same thing that stops 99% of people from succeeding. FEAR!! If you knew for sure, without a doubt, that if you went out for 3 months straight and got rejected each and every time, but on your very last attempt you scored a deal that could put $50,000 in your pocket, I would guarantee you that the last thing on your mind would be the 3 months worth of rejections. Now lets figure this out.....in one year, if my calculations are correct, that works out to about $200,000 per year. I can also guarantee you that it would be pretty difficult to go out for 3 months straight, if infact you are working, and not be able to land a profitable deal in your 1st month. What it all boils down to is taking your 1st step. My advise to you is this: There is no fear that one cannot overcome in this business. If you do not have the answers to a question, tell the seller that you are not sure but you will find out and get back to them. People can smell a phony a mine away, but if you are honest with the folks you are trying to strike a deal with, they will trust you and respect your honesty. I have a formula that I use in aquiring properties that has worked well for me over the past 2 years. In targeting pre-forclosures I know I need to talk "personally" to 40 homeowners before I can close a deal that will net me a nice profit. My main focus is not how bad I will feel when I get turned down, but how much closer I will be to that 40th person each time I go out and get rejected. To be honest with you, I have learned to welcome rejection because I know I am getting closer to that deal. One last thing I will leave you with....No matter how many books you read or how many courses you take, there is no better experience than going out and doing it. There is nothing wrong with learning while earning.
"If you do the same thing in the next 5 years that you did in the past 5 years, where will you be 5 years from now?" Kinda makes one think, huh?
Repoman
Bud,
I was soooooooooooo scared and here's the thing, even before I got into this business I worked, talked, and gave presentations to some of the top people in the world. But picking up that phone to call someone scared the crap out of me again.
But I realized it calls down to knowledge. I know it's such a cliche, but you have to fall many times as a kid before you learn to walk...but at a young age we don't know any better and we just keep trying. It's only for some reason that when we are older we learn that we can fear things, etc.
You will make a mistake, you will stumble...shoot, sometimes I still do, but it's just a comfort and knowledge thing. It may take 10 times before you feel really comfortable talking about the subject. You will start to learn what people need and want to hear. You will start to gain confidence in your abilities and your actions. Always, remember, these people called you for help so don't ever give the impression (even if you are scared to death) that you don't know what you are doing...even if you have to fake it...you are in control, just remember that...you are in control.
I guess I learned a while ago to really put my fears aside and go for it...and as glamorous as that sounds, it sucked for a while. Some days it still sucks, but at least I know where my fears are and that I can beat them.
Good luck and if you ever need some words of encouragement or help, we are all here to offer it.
Best,
Christian "The Solutions Kid" Beebe
[addsig]
I'm in the same spot, scared about the first investment. I just put offers on 2 duplexes and a repo house. I'm totally questioning my sanity...but at the same time believe that this is the way to go.
I appreciate the honesty on these posts. You are a great bunch!
Many thanks,
Paola