If you change the way you think, you could end up making more money. Today I will explain how.
I want to go over why you should be your own best client in today’s market.
One of the things that we talk about on our team is how can you be a market expert if you are not buying your own product. If you are looking on the market, and you are part of this business, you should be your own best client. You should be buying your own product.
When I go out and do my daily prospecting from 8:30 a.m. to 11:30 a.m. and I reach somebody, I want that person to tell me more about the property. I am not thinking about how I can get a sale. I want to know if it is a good property that I can actually take advantage of.
This is how I have located properties, bought several duplexes, and I have even had the chance to buy single-family homes that I have bought and resold. I then took that money and put it into other investments.
When you shift your mindset from “I need to sell” and just taking that $6,000 to $8,000 commission, and instead actually buy something, you can make $8,000 to $10,000 every single year for the rest of your life.
A couple quick rules to think about any time you are buying a property:
1) It has to have equity. 2) It has to have cash flow.
The reason that is going to be so detrimental to you is that, when the market made a shift, the people that lost did so because they didn’t have cash flow. They have equity, but it goes away. A property that has cash and continues to kick off cash whichever direction the market goes will create opportunity for you.
I would have never started my team if my rentals weren’t producing the income.
Think about it. Take advantage of the market; take that extra money you have and put it into the market. Find opportunities that can create money. Create a cash flow for life and something that you can essentially live on forever.
If you have any questions for me about how to become your best client, please don’t hesitate to ask. I would be happy to speak with you.
