myEmpirePROQuestion: “How Do You FIND INVESTORS?”
Somebody was watching one of the bird-dog videos that I have out there on the channel.
So what is bird-dogging?
Bird-dogging is basically a dog that goes out to fetch birds, something like that.
And the idea of that is, it’s some kind of a term that’s used to describe people that just go out there to find deals.
So all you do is you just drive around town, you find an over weeded house, a house that looks like it needs some work,
…and basically it needs some work and all you do is write down the address and send it to “an investor” who would want to buy the house.
That’s the idea, but It’s a terrible idea in 2020 and beyond.
It’s a terrible idea.
Why?
Because first of all, the investors have access to the same information that you’re driving around.
Like right now, and they have access to thousands of them.
So the worst thing you wanna do now is to spend a lot of time and then send the address to an investor.
They’re supposed to do all the betting and then hopefully pay you $1000 or $2000 at some point.
Bird Dog is a strategy that was taught 15 years ago, when I first started in 2005, at that time I guess it made sense.
“Hey if you found something good, just write it down and send it to me. I’ll pay you. I’ll pay you” it’s called referral fees right?
$500 or $1000, if I close the deal.
But the truth is that life is so much easier, things are so much easier.
Technology has made everything so easy that you could give the investors a run for their money just because you have a laptop.
How would you like to be in a position where investors are literally begging you?
They don’t want begging you to do business with them, even though they have more money than you,
…but because you understand the power of technology.
I just said power, because power is a lot bigger and a lot better than money.
Where does power come from?
Well, a lot of time, even since the beginning of time,
… it comes from information first, especially in the information age.
Like it’s always been that way, by the way, but especially information age power comes from information.
You have to have access to the right information but that’s not good enough, obviously, because you do have access.
It’s about executing on the right information too.
The best information at this time and age comes from actual data.
A lot of people that have old money don’t necessarily know this or have respect for it.
Some of them are still living in the “la-la land”, in the old ways.
And like, right now, there’s something actually going on live right now, because some people are still living in 1965.
They don’t realize that power is basically almost synonymous to information and being able to act on that information.
So how do you find investors?
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Number One thing you need to understand is that you are an investor.
That’s #1 thing you need to understand.
You are the investor, because you understand this power in investing what you have.
Whatever you have right now, you got time more than money, then that’s luxury for you and for somebody who doesn’t have as much time but they have money,
…that’s an advantage over them.
So now that’s the way you can bring value to that situation.
It’s all about that first core pillar.
First core pillar that I covered in “Smart Real Estate Wholesaling”.
It’s about who can bring the most value to the marketplace,
…also who can flip value into calls, people calling you and into deals.
Some people are waiting until “I have access to the same data, the same money that’s the gurus and investors have access to”.
But actually you have access to something that they would die for if they could, TIME.
You can now use that as your own input into the system and then flip that and then it becomes deals.
I know it’s a whole lot, it’s a mouthful that I just said but just stick with me.
Again, keep in mind you are the investors.
It’s not only money that people invest.
You invest your time, you invest time in learning, invest time in your education, invest time in getting some experience, working with some other people.
Invest time in watching videos.
I don’t have time to watch as many videos as I would like to watch, even if it’s entertainment.
I would like to sit down and just watch videos, but I don’t have that time because my goals are, they get bigger.
The more I accomplish, the bigger my goals get.
All you probably have right now is just time.
How do you invest that into educating yourself virtually?
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Especially post-COVID era.
How do you invest in yourself?
How do you take advantage of this moment right now?
That’s something you should be paying attention to.
The idea is don’t be a bird-dog.
You are the investor and you have access to cash if you find a good deal.
If you don’t find a good deal, even if you have cash, that cash will leave you eventually.
You get what I’m just saying?
Let’s say you have all this money right now.
Let’s say you have $2 million to invest, and then you just want to go out there and invest and just throw money at houses.
What’s gonna happen eventually is that you’re gonna lose all that money because you don’t have education.
You don’t understand how money is flipped in this time and age, and it’s because you lack that knowledge, you’re gonna lose all that money.
So whatever you are right now is actually a privilege.
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Just understand that it’s a privilege.
You’re the investor.
You’re not a bird-dog, just focus on finding good deals.
Focused on learning how to market so that calls can come to you from people that are distressed sellers that have properties to sell and they just want to get rid of it.
And because they’re in that position financially, they’re able to negotiate a good deal.
You negotiate that deal, you lock it in.
How?
“You need a contract, you need a special type of contract”.
No you don’t, just lock it in.
Find the contract, there’s contracts everywhere on the internet.
Lock it in.
The type of contract is not the issue, it’s how motivated these sellers are.
Do you have the skill set to generate leads of sellers calling you?
That’s really a problem.
Everything else will be taken care of, like everything else.
Establishing that stage 2 – contact,
…where they, personally I prefer that they call me, where they actually call me and I’m like,
“OK, how may I help you?”
“Oh, yeah, I’m calling you because you know, I saw your post about this and I wanted to know if you’re still buying houses”,
…that conversation is a lot different than “hey, are you open to selling your house?”
It’s just two different things and I prefer the former.
Where somebody is calling me and I’m in a position to say “how may I help you?”.
Makes my life a lot easier and with digital marketing in this time and age, it’s the easiest thing to do.
So again, like I said, even if you’re broke and you don’t have money to set up campaigns online and stuff like that,
…at the very minimum, you should be pre qualifying people using text messages before you get on the phone with them.
You shouldn’t be talking to people, that has 90% chance they’re gonna curse you out.
It’s a waste of your time, and you’re gonna get frustrated.
You’re gonna frustrate all your effort if you’re doing that.
If you’re still doing that and you’re looking for a better way, that’s what we cover.
We’ll help you execute that in 11DaysChallenge.com.