4 Steps to a New Wholesaling Success Strategy
Positioned on the verge of a new extended real estate boom there are huge opportunities and plenty of money to be made from flipping houses over the next 10 years.
However, those who win and who stand to gain the most and see long term success in real estate investing are those that have a winning wholesaling strategy.
This goes far beyond just building real estate knowledge and really getting the mechanics of how to do deals and scale a business. In fact it is the elements which should come into play even before getting started that really make all the difference in being successful or not.
Fortunately, even if you have been flipping houses and are running into challenges it is never too late to reset by incorporating these elements and parts of your grander wholesaling strategy to come out a winner.
Anyone might be able to walk into the market and flip a home or two for a few bucks but those who want to be able to consistently enjoy a great income and lifestyle absolutely must work these 4 steps.
1. Define Your Vision
You probably already have goals, even written goals, but most fall short of ever reaching them because they are really nothing more than bland ‘nice-to-haves’, not passion stirring, action compelling vision statements. Don’t underestimate this. Unless you get this foundational part right nothing else will fall into place just right and last. Your goals should be instantly inspiring and drive you to move.
2. Position the Pain in Advance
Goals are great and once you achieve them you’ll probably be a lot happier. The challenge is that along the way, even though flipping houses can be incredibly enjoyable there will be tasks, phone calls, decisions and times when there can certainly be some type of pain associated with getting there. It can be physical pain for those rehabbing or mental when deals break down. Those who don’t anticipate this often end up quitting as soon as they hit the first challenge and off they go back to flipping burgers instead where they feel more in their comfort zone. Of course between hot oil burns, corns on the feet and miserly wages that afford none of the pleasures there is a lot more pain back in that ‘comfort zone’. Position the pain in advance and it won’t touch you or throw you off track on the way to achieving your goals.
3. Prepare to Win
Part of a successful wholesaling strategy is getting the right mindset and maintaining motivation. There is competition out there but like world class athletes, mixed martial artists or business moguls those who get themselves primed for success by getting in the right mindset can win again and again. For real estate investors game day is every day. Give some thought to creating some space in you morning schedule to get in your zone or complete your own ritual to give you the mindset advantage each day.
4. Effective Planning
Many might consider the above a bit ‘fluffy’ but it works and more than that, is essential for success. But this one is for those intensely logical types. It doesn’t matter how inspired, focused or pumped you are if you don’t have a solid and well researched game plan. Don’t skip this step.
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