Advanced Wholesaling Strategy for Real Estate Investors
The mechanics of wholesaling homes may not be that complex but for those real estate investors who really want to build a sizable enterprise with large revenues, there is certainly a demand for another level of knowledge and strategy too.
So if you really want to go big with your real estate business, what do you need to know and be working on?
Inc. Magazine recently ran a report on traits of successful entrepreneurs, calling ‘entrepreneurial intelligence’ one of the precursors to winning in business. This isn’t just about I.Q. or book knowledge, but street smarts too. It’s just like the chef who graduates culinary school and knows how to craft magnificent dishes but has no skill at actually adapting to a live restaurant and turning out plates of food to real customers.
Fortunately, you don’t have to spend 4 years in college to flip homes and don’t have to spend years practicing to pick up the street smarts if you know where to find intelligent short cuts. This leads us to a second trait of successful entrepreneurs as reported by Inc.com. This is a willingness to get coaching or mentoring.
A coach or mentor can help enhance your business with advanced wholesaling strategy, helping you to leap frog the challenges newer and inexperienced real estate investors face, provide a sounding board for bouncing ideas off of, and delivering the insight of what is really working for those who are top in the industry and what isn’t.
Unfortunately, where many go wrong is only focusing on pushing their own agenda and not accounting for the potential threats from the competition and even nature. This is a critical part of wholesaling and business strategy for those who are really serious about winning and surviving in the long term.
How are you protecting your income and your operations from being interrupted when there are natural disasters? What about from complaints? No matter how good of a job you do they will come. Then today investors have to recognize that the competition is waging a constant assault against their online reputations. This takes a constant proactive strategy to push back against it. Then there are even the Apples and Samsungs of the real estate industry who could try to steal your ideas and leads or even tie you up in court to slow you down and burn your resources.
However, great wholesaling strategy isn’t just static, and with so much to learn, ongoing education must be a central part of every investor’s planning for the year. It doesn’t matter if you decide it is just reading or active coaching calls or traveling to events, you need to map it out and block out the time in advance.
However, don’t let learning keep you from actually doing deals, bringing in hard cash and growing your investment business. It takes action and “fortune favors the bold.”
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