Starting out as a real estate agent in 2004 I quickly realized the real money was being made by the people who were buying. I helped them find properties which they quickly flipped for checks with a lot more zero’s than my measly little commission.
In this post you’ll learn the three steps I took to get those big paydays. You’ll also have an opportunity to join me and my friend Augie Byllott to learn more about “investor thinking” and why it’s important to learn how to think like them.
Agent to Investor: 3 Easy Steps
- The first step I took was education. I read books, bought programs and invested in my knowledge so I was prepared to talk, act, and think like and investor.
- My second step was to find out where investors are hanging out. In my search I found that my area had one of the largest Real Estate Investor Associations in the country. I joined and began to network with all the top investors in my area.
- I took action. Whenever I learned a new technique I immediately began to implement it in my business. The truth is, not all of them will work. The ones that do will lead you to great results.
Choosing a Direction
When I started diving into the investor way of thinking I was focussed on working with investors as my primary niche. I knew the average homebuyer would only buy and sell once every 5 years, but investors were buying properties as often as made sense.
My objective was to learn “what made sense” so I could find those deals more often and offer them up to the investors I was working with.
After several deals I realized the real money was being made by those investors, so I decided to change direction. I knew which deals made sense, so I put the pieces together and started buying them myself. My business took off and before too long I was making the big checks.
Of course there’s risk involved in buying properties yourself, but if you learn to analyze deals to make sure you get the best possible deal you’re in better shape than 90% of the so called investors out there.
What direction suits you best?
Finding Deals for Investors
Pros:
- Investors Buy more often
- You can move inventory quicker
- Once proven more investors will want to work with you
Cons:
- You have to keep finding inventory
- You may have to negotiate volume discounts
- It can be more work
Becoming the Investor
Pros:
- The checks are bigger
- You don’t have to do as many deals
- People will bring you deals
Cons:
- The risk is greater
- It can be more work
- You’ll have t learn some new skills
Learning the Investor Mindset
Either direction you choose I recommend you learn the investor mindset to help in your business. Once you learn how they think you have the opportunity to work with investors, become and investor, or even teach people how to invest (which will make them very loyal to you.)
