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There are a lot of similarities between Fishing and Real Estate Investing. You are always looking to find the Big Ones without wearing yourself out. I personally prefer fly fishing with flies I tied myself - a gentle, quiet sport. One thing I learned a long time ago is that the really big fish are not the ones you see hitting the flies on the surface. No ... the really big fish don't like to waste that much energy. They like the food to come to them. With a pair of polarized sunglasses you can look down into the stream and see the biggest fish parked behind the rocks and stumps. They sit in the slack water behind the rocks waiting for bits of food to flow by on the current. Then they just turn their heads and gulp it down and return to their resting place. When you want to be a Big Fish Real Estate Investor, the secret is to get profitable projects to flow right across your desk. I am talking about Deal Flow here. Deal Flow is when Projects come to You You play the Big Fish and nab the best deals as they stream by and you can create a system that makes this flow happen automatically with these three steps. Step 1) Get Crystal Clear on Your Goals Think for a second ... what are your Real Estate and Financial Goals for the next 12-18 months? - What property purchases do you want to make? - What dollar value and how many projects will you take on? - What amount do you want to add to your Net Worth? With clear answers to these questions ... I mean real clarity on these goals ... you are ready for the next step. Step 2) Network Building Get the word out. Let EVERYONE you know in on your goals, especially if they have a business reason for helpin you reach them. The more people who know your goals, the more people who can help you reach them. You know, people really do love to help and I will go so far as to guarantee you this... If you aren't seeing enough profitable deals flowing to you right now it is only because not enough people know your goals and what you are looking for. Network Building: Bigger is Better Amp It Up Make a conscious plan to expand your network with people who you know can help you reach your goals. Make a list of your current network and choose - a bunch of Brokers & Agents - A Title Company or three - Your favorite Real Estate Lawyers - Several Mortgage Brokers - Book keepers and a CPAs - Some Appraisers - Property Managers - Lenders/Bankers - 1031 Exchange Agents and more Write down anyone and everyone who would benefit by helping you reach your Real Estate Goals and then call each one up and tell them exactly what you are up to. Let them know your goals, straight up. Give them your contact information and stay in touch at least four times a year. Now to really get going Step 3) A Deal Flow Jump Start - Pay It Forward When you are building your Network it is important to fed and care for it properly. Make your's a two-way Network by putting your time and energy in as well as asking for other's support. The Key? Give others what they want and they will give you what you want. Every chance you get ask your Network members for their goals and then help them get there whenever you get the chance. If your goal is buildable land and your contact wants a multifamily deal ... and you run into and great multifamily project - let them know. This act of kindness will circle back in the form of a referral from that same person for just the tract you are looking for. These three steps are the key - it is that simple 1) Clarity on Your Goals 3) Grow Your Network and Feed it Well 3) Help Your Network Members Succeed Just like the big trout has the stream current bringing food right to its mouth, your Network is the current that brings Deals to your desk "automatically". These three steps implemented every day - make it a part of your basic routine - will allow you to generate your own Deal Flow that lasts as long as you continue to feed your Network. You will be able to relax like the Big Fish in the river and let the deals come to you you snagging only the best ones - the ones with the most "meat on the bones" for your very own.
Article Source: http://www.wealthmountains.com/articles
About the Author Investing money is a complex decision. Expand your options. Tap into Dr. Drummond's Commercial Property Investment Deal Stream by clicking either one of these links. This article is available as a unique content article with free reprint rights.
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