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End 2020 the Right Way By Starting a Profitable Real Estate Business
Joe: Hey, it’s Joe Crump. How to end 2020 the right way by starting a profitable real estate investing business. The first thing you want to think about is stop your dreaming and start doing. Nothing happens until you take action on the things that you want to do. So start taking action. Do something even if it’s wrong. You can make mistakes and you can still succeed in this business especially if you build your business in a way that I teach where you don’t use your own money, where you don’t use your credit. You don’t need any of those things to get started. All you need is the knowledge to be able to do these things, and the skill to be able to pull it off.
Joe: And the skill, the most difficult skill to develop is learning how to talk to sellers and put deals together in a way that you sound competent. Because when you get on the phone and you don’t sound competent people aren’t thinking oh, this guy doesn’t know what he’s doing. What they’re thinking is oh, this guy’s a scam. You’d better watch out for him.
Joe: So you’ve got to learn how to be competent so the people will learn to trust you. If they don’t trust you you’re not going to be able to accomplish these things. If you don’t act honorably, I guess you can go out there and screw people but I don’t think that’s the way most of want to live our lives. Go out there and watch out for other people. Solve their problems. Learn the issues that they have in their business with their properties that they need to resolve and show them how to resolve those issues.
Joe: The next things is don’t take a lot of risks. The big risks that people take is with their credit and especially with their money. You can survive losing all your credit but it’s really hard to survive when you lose all your money. And if you have an amount of money to spend whether it’s a small amount of money, let’s say you’ve only got a few thousand dollars to invest, or you’ve got hundreds or millions to invest.
Joe: If you invest it incorrectly you can lose that money. So make sure you know what you’re doing before you commit all that money. And the best way to learn how to do this without losing money and losing your cash is to do it with no cash first. They say you need money to make money. I say if you can’t make money with no money, you probably can’t make money with money. So learn how to make money without money first. Learn the Zero Down techniques.
Joe: And then the third thing that I would say is learn the skills that you need. Take the time to develop the skills. What I see happen so often, even with people that come into my mentor program, is they’ll give up before they actually learn how to do this. My six month mentor program, I take people by the hand and I walk them through the process and we show them exactly what they need to do and the skills they need to develop to make that happen. I tell them it takes you, it’s going to take you three or four months before you can start making money, before you can expect to start making money in this business and give yourself time to do that.
Joe: I’ve got people that make money in a week or two, but they’re the exception not the rule and it’s usually because they got lucky not because they developed the skill.
Joe: Also I tell them be prepared to spend 8 to 10 hours a week on the phone talking to sellers making offers. If you’ll do that in your first 3 or 4 months, or 6 months or 8 months, you’ll get really good at it. Once you’ve talked to 100 people, that’s the point where you’re usually getting pretty good at it and by talking to 100 people, I’m talking about calling and dialing and then hanging up as soon as they say no.
Joe: I’m talking about staying on the phone until they say no 5 times. And if they say yes, then stay on the phone until they say yes 5 times. Go through the process with them. Keep asking them questions about what it is that they’re trying to accomplish. And when they say yes, make sure you go through all the details of the deal with them so they understand it and agree to each part of it.
Joe: Because you don’t want to lose them. A lot of times people will say yes to you on the phone simply to get you off the phone. So make sure that that yes is a real yes so that you don’t get off the phone and get all excited about it and then try to call them back and they don’t answer your call. I’ve seen that happen too many times. So develop the skills that you need to make this busines work. When you develop those skills you will be able to go out and make money at any time. You’ll never have to worry about having a job again.
Joe: You’ll never have to worry about your business not succeeding because you’ll know how to put together a deal, you’ll know how to talk to people. You’ll always be able to survive. And that’s one of the most valuable lessons that any entrepreneur needs to learn.
Joe: The biggest mistakes that you make as an entrepreneur are going to be at the beginning of your career. That’s what happened to me back in 1991 when I was just getting started. I had only been going it for 4 or 5 years when built this great big business but I built it incorrectly. And then it all crashed on me. And then I had to start over from scratch with even fewer resources and terrible credit to get it going again. And the things that I’m teaching now are those things. It’ll help you get going and help you move forward.
Joe: If you like this video, please hit subscribe. Hit the bell and it’ll send you a notification every time I send out a new video. You can check out ZeroDownInvesting.com and it’ll tell you all about my six month personal mentor program. Check out PushbuttonAutomarketer.com and that’ll teach you about my automation system and got to JoeCrumpBlog.com and you’ll get all the details, lots of free information. There’s over 700 free videos there that can teach you this process.
Joe: All right – take care.