3 Small Tweaks to Transform Your $50K a Year Wholesaling Business into a $500K Cash Machine
That’s a big jump. What’s it going to take? It’s really just looking at it and dialing in your business. What this will do is give you a laser focus on exactly how to manage your business correctly and then be able to scale it.
The first thing is the mindset. You’ve got to have the mindset that all things are possible when it comes to real estate. Do you realize that we’re talking about flipping $100,000 houses and making $10,000 on a deal? That is so nominal when it comes to the world of real estate. There are $100,000,000 transactions going on, where people are flipping them or renovating them or buying them. There is that possibility when it comes to real estate. Now that is obviously pretty big to think about. So what if you take it on a smaller level. The first step is to increase your income, mentally, where you say, “in the next 12 months I want to make x.” Whatever x is, double it. Why do you do that? Because it’s amazing how things will line up, and it’s hard to explain.
For example, in 2011 I made an income goal in January. I made the income goal, then I doubled it. I remember thinking it was a ridiculous number and there was no way I could make that much money. I did’t know how this was going to happen, but I just put it out there and let it go. I started working, doing deals, marketing, cranking it out. And it’s crazy because it pushes you to a level of expectation higher than you normally would. Instead of doing a marketing campaign with x amount of mailers, you just increase it a little. So what happened was, I didn’t even keep track, I was just blowing and going. So at the end of the year I was doing my taxes, I looked at the amount of income that I made for 2011 and I exceeded my goal by $2,000. I literally fell out of my chair, when I realized it. You know what my first thought was? I was like, “What an idiot. Why didn’t I triple it, why didn’t I quadruple it?” So with my 2012 goal, I just blew it out of the water. I still haven’t kept an account of exactly where we are at, half the year is gone, but I know it is going really well. I’m sure I’ll over exceed it. So the bottom line is this, get your head on straight and whatever you think as an income goal and you’re going to double it. You might not know how it’s going to work out, but if you listen to the podcast, and you follow the principles, things will start to unfold which will amaze you.
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