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Real Estate Investing is like fishing in some ways. You have to learn how to find the Big Ones without working too hard. I am a fly fisherman from way back. Even tie my own flies on occasion. Stop for a second on the river and you will see that the big fish aren't the ones you see splashing on the surface, eating flies. The big ones don't waste their time thrashing around. They want their food to come to them. Put on your sunglasses and you can see the big ones finning slowly behind each of the bigger rocks. They park themselves behind the obstructions waiting for dinner to come to them. When a bug floats by it just takes a little turn of the head to grab their dinner and settle back in. Real Estate Investing like a Big Fish means getting great deals to flow over your desk every day. It's called Deal Flow ... when you see multiple profitable projects flowing by your eyes every day. Just like the big trout, you grab them as they flow across your desk and keep only the big juicy ones. You can set this up so that it happens automatically in just three steps. Step 1) Clarity on Your Goals Take a moment and decide ... what are your goals for your Investments and Net Worth for the next year. - How many properties do you want to buy? - How many projects for what dollar volume do you want to take on? - How much do you want to add to your net worth? With clear answers to these questions ... I mean real clarity on these goals ... you are ready for the next step. Step 2) Build Your Network Shout it out. Tell your goals to EVERYONE you know. Especially people who have a business reason to help you. It is only by telling more people what you are doing that you can expect to see more deals come your way. What is cool is that people love to help. I will even guarantee you ... If you aren't seeing enough profitable deals flowing to you right now it is only because not enough people know your goals and what you are looking for. Network Building: Bigger is Better Amp It Up Make a conscious plan to expand your network with people who you know can help you reach your goals. Make a list of your current network and choose - several Real Estate Agents/Brokers - A Title Company or three - Real Estate Lawyers - Several Mortgage Brokers - Book keepers and a CPAs - A couple of Appraisers - Property Managers - Bankers/Lenders - 1031 Exchange Agents and more Everyone you know and everyone in your target market who would profit from helping you on a project - and TELL THEM ALL what you are looking for in this next year. Give them your contact information and stay in touch at least four times a year. Now let's put it into high gear. Step 3) A Deal Flow Jump Start - Pay It Forward Once your Network is built you have to feed it by making it a two-way system. As in the recent movie "Pay it Forward" - put your energy into the network to kick start the Deal Flow. The Key? Give others what they want and they will give you what you want. Every chance you get ask your Network members for their goals and then help them get there whenever you get the chance. Let's say you are looking for a retail strip and a member of your Network is hunting for office space ... and then you run across a smokin' office deal ... tell them. What will happen is that same person will turn you on to a perfect retail deal soon enough. It just takes these three steps - diligently and persistently applied - to reach your goals. 1) Get Clear on Your Goals 2) Build and Feed Your Network 3) Help Your Network Members Succeed Just like the big trout has the stream current bringing food right to its mouth, your Network is the current that brings Deals to your desk "automatically". Practice the three steps every day with patience and persistence and in a few months you will see Deal Flow that can last as long as you want. You will soon be able to sit back like a Big Fish and just watch the deals come across your desk grabbing only the meaty ones to take on.
Article Source: http://www.philvault.com
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