Posted by Eric Medemar on September 15, 2009 at 15:29:00:
As with so many things in life, the answer to your
investing
problems are completely counter intuitive to what you
think
that they are.I have spoke with Hundreds and hundred of wanna be
investors
and I can tell you in 99% of the cases the trouble has
nothing to do with:The Real Estate Market...
The amount of buyers in the market...
The prices rising or falling...
The amount of information that they've studied....
Whether or not you have a business card...
Whether or not you send post cards...
Whether or not you have a good Realtor...
Whether or not you have cash...
Whether or not you have credit....
Wanna know why most newbie investors fail? Sorry I
can't
tell you, you've got to buy my system....LOL I'm kidding.
In 99% of cases the problem that paralyzes most newbies
is
they have absolutely no confidence in themselves.Since I specialize in wholesaling, I'll give you
examples in
terms of that, but this advice go's for anyone....I'm not talking confidence like "I am confident I can
succeed" though that does play a small role....I'm talking about the confidence when you approach
investors
or sellers about putting a deal together you need to
come in
with the mindset of....[center]"Dude, I feel bad for you if you're not buying
my
contracts because if you buy from anyone but me and
you're
paying too much"[/center]I tell all my students "You should literally feel
terrible
for people that don't choose to work with you...they
are on
a sinking ship and you're the only life boat in the
water"If you can bring yourself to having that attitude your
chances of success go up like 400%....I can remember one of my students was just pouring out
the
"Yeah but" excuses to me."Yeah but I don't have any experience"
"Yeah but I don't know if it's really a good deal or
not"
"Yeah but I'm not quite sure, if it is a good deal"I said listen dude....You're going to be talking to
investors either way, right? And during that
conversation
they are going to come to one of two possible
conclusions:#1 this guy say's he's going to find a great deal on
property, but HE DOES'NT EVEN SEEM TO BELIEVE...so why
should I?#2 This guy say's he's going to find a great deal on
property, and I better get his name and number...We did a few exercises, he went to his next REI meeting
and
came home with 5 new numbers that he didn't have to ask
for...Investors now wanted him, as bad as he wanted
them...He had been to 3 other meetings, with the same people
and
all 3 times he left the meetings not with lead, but
with a
sinking feeling in his gut that he was destined for
failure...Which of course contributed to the problem
even
more at the next meeting...Here I'll explainThe problem is many rookies MISTAKINGLY believe that by
talking a big game (which they usually fail at as well)
that
they will get investors to work with them...The trouble is 90% of communication happens on a
subconscious level....In fact, in many cases the
investors
who turn you away probably don't even know why they
don't
want to give you a chance....they just get that
"FEELING"
from you, and gut feelings are basically a quick snap
decision from the subconscious mind....You have probably had a similar experience when you
meet
someone and something doesn't feel right, or they just
seem
to be full of B.S....It's because "WHAT YOU SAY" is far
less
important than "HOW YOU SAY IT".The only way to change the "how you say it" is to
change
your attitude and beliefs about you and you're
business. You
need to bring yourself to a point where, you feel like
you're doing investors a MASSIVE DISSERVICE by not
letting
them by contracts from you.If you don't believe me, please suspend your disbelief
for
just 1 or 2 meetings and "Check out" whether or not it
works, you'll be thrilled, I promise.I'll give you one more example before I gotta roll....I
stopped going to REI meetings for over a year because I
already had a line up of buyers a mile long, but one
Friday
I decided to attend their weekly breakfast meeting to
drum
up more clients for the Realtor side of my business..
Over
the course of that year most of the faces had changed,
but
what hadn't changed was the place was still swarming
with
money hungry Realtors looking to sink their teeth into
some
of the investors.When it was "Networking time" I had to stop myself from
laughing, when I found out these many of the realtors
had
been attending these meetings for the past year, and
yet
when I started talking to the investors there, most who
met
me said "I've been looking for someone like you, can I
give
you my number". I left with 6 numbers that day....BOTTOM LINE: People don't just buy your contracts, THEY
HAVE
TO BUY YOU FIRST.I hope this helps a few of you out...
Eric Medemar
- Re: Failing At Investing? It's Not Why You Think! tim 15:15:21 11/16/09 (0)
- Re: Failing At Investing? It's Not Why You Think! DemosL 13:02:46 10/10/09 (0)