Three Real Estate Investment Tips Essential to Your Success

For successful real estate investing, you need at least three traits.  These traits can be natural habits but are more likely formed from day-to-day discovering what it takes to get real estate deals completed.  While they may seem obvious, they are not always common.  The reality is that all three are required to have super successful real estate investing.  None should be delegated and most can’t be effectively transferred to staff or virtual assistants.

I believe the first and possibly most important is “Persistence”.  I am guessing that 90% of the wannabe investors who fail do so simply because they are not persistent in making offers daily and following up to see what happened to each offer.  Often they start out highly motivated and are persistent but meet with roadblocks and slowly their enthusiasm grinds to a halt.  They start making excuses why they can’t do it while the Super Stars meet the same obstacles and keep going.

Sometimes these quitters will restart because they need to change careers or simply want a piece of their dreams fulfilled through real estate investing.  Some of my most successful Students utterly failed when they first started simply because they were too anxious to fulfill their personal expectations.  Often years later they restarted and most have done very well.  The common denominator for their new success is that they really, really needed the income – specifically because of job loss or divorce.

If you persist, are not afraid of failing and learn from your failures, you have to be successful in real estate investing.  Even doing it completely wrong is 100,000 times better than doing nothing and hoping to get it “perfect” before you get started.

Second in the three traits or habits that are important is “Work Ethic”.  To me this means you work hard and run your business all the while taking responsibility for what happens.  You don’t expect your employees to do what you wouldn’t do yourself and you treat your employees the way you want to be treated – with respect.

Third in this trilogy is “Focus” and what I mean here is staying on target with what needs to be done every day.  You set goals and make plans and put these ahead of the day-to-day distractions that are time vampires and provide nothing in return.  These giant time-wasting, money-sucking vampires include your emails and TV.  The only reason you get emails is because the sender wants something from you.

I don’t know of a TV program that provides anything but emotional satisfaction to your life.  I was interviewed by a nationally syndicated TV program to be on their real estate series because we wholesaled so many deals.  When they visited us their feedback was we didn’t qualify because there wasn’t enough “drama” in what we did.  I wouldn’t agree to scream and swear so they went looking elsewhere for success in investing.  They were looking for drama, sorry guys.

I often talk about the “Silver Bullet” that every investor is seeking as a new thing he can do and make more money with no effort.  While there are niches in real estate investing that yield spectacular results, you’ll need to work them hard (stay focused) all the time.  Money is seldom “easy” and even lotto winners who have easy money, seem to be unable to sustain happiness or keep the money.

There you have it: Persistence, Work Ethic and Focus are the three common traits that all my very Successful Students have in common.  Be critical of yourself and your actions and make whatever changes are necessary to make these traits part of your daily habits and a core of your business for successful real estate investing.

change your life mentoring click button j 300x236 1

To your limitless success,

Dave Dinkel
Real Estate Mentor Program Founder

Save

Visit davedinkel.com for full privacy policy, terms of use, etc.  Be sure to contact us through the website at davedinkel.com if you have questions or concerns ([email protected]).  Results mentioned in this presentation and any video, article, and/or material related to Dave Dinkel and his associated businesses are not typical nor are a guarantee of any earning potential.  No advice is to be construed as legal, accounting, or professional advice EVER.  Please consult related licensed and qualified professionals before taking any action.  No person(s) mentioned in the articles and /or shown on videos received compensation in any form for their opinions.

Three Real Estate Investment Tips Essential to Your Success

For successful real estate investing, you need at least three traits.  These traits can be natural habits but are more likely formed from day-to-day discovering what it takes to get real estate deals completed.  While they may seem obvious, they are not always common.  The reality is that all three are required to have super successful real estate investing.  None should be delegated and most can’t be effectively transferred to staff or virtual assistants.

I believe the first and possibly most important is “Persistence”.  I am guessing that 90% of the wannabe investors who fail do so simply because they are not persistent in making offers daily and following up to see what happened to each offer.  Often they start out highly motivated and are persistent but meet with roadblocks and slowly their enthusiasm grinds to a halt.  They start making excuses why they can’t do it while the Super Stars meet the same obstacles and keep going.

Sometimes these quitters will restart because they need to change careers or simply want a piece of their dreams fulfilled through real estate investing.  Some of my most successful Students utterly failed when they first started simply because they were too anxious to fulfill their personal expectations.  Often years later they restarted and most have done very well.  The common denominator for their new success is that they really, really needed the income – specifically because of job loss or divorce.

If you persist, are not afraid of failing and learn from your failures, you have to be successful in real estate investing.  Even doing it completely wrong is 100,000 times better than doing nothing and hoping to get it “perfect” before you get started.

Second in the three traits or habits that are important is “Work Ethic”.  To me this means you work hard and run your business all the while taking responsibility for what happens.  You don’t expect your employees to do what you wouldn’t do yourself and you treat your employees the way you want to be treated – with respect.

Third in this trilogy is “Focus” and what I mean here is staying on target with what needs to be done every day.  You set goals and make plans and put these ahead of the day-to-day distractions that are time vampires and provide nothing in return.  These giant time-wasting, money-sucking vampires include your emails and TV.  The only reason you get emails is because the sender wants something from you.

I don’t know of a TV program that provides anything but emotional satisfaction to your life.  I was interviewed by a nationally syndicated TV program to be on their real estate series because we wholesaled so many deals.  When they visited us their feedback was we didn’t qualify because there wasn’t enough “drama” in what we did.  I wouldn’t agree to scream and swear so they went looking elsewhere for success in investing.  They were looking for drama, sorry guys.

I often talk about the “Silver Bullet” that every investor is seeking as a new thing he can do and make more money with no effort.  While there are niches in real estate investing that yield spectacular results, you’ll need to work them hard (stay focused) all the time.  Money is seldom “easy” and even lotto winners who have easy money, seem to be unable to sustain happiness or keep the money.

There you have it: Persistence, Work Ethic and Focus are the three common traits that all my very Successful Students have in common.  Be critical of yourself and your actions and make whatever changes are necessary to make these traits part of your daily habits and a core of your business for successful real estate investing.

change your life mentoring click button j 300x236 1

To your limitless success,

Dave Dinkel
Real Estate Mentor Program Founder

Save

Frequently Asked Questions

1. What Should I Do If a Seller Ghosts Me?

If you feel you have been ghosted, act decisively and quickly. If you have tried texting and calling, it’s time to drive by the seller’s location. I always take the recorded Notice of Interest or Memorandum of Contract to leave, so the seller knows it exists. Go by at a time when you know they will be there and don’t be confrontational, just get the facts.

In our experience with new investors, the chances of losing a deal with no contract is likely over 85%. Verbal commitments do not apply in contract law; get everything in writing, especially contract changes.

Different ‘gurus’ have different opinions, but our experience is finding motivated sellers and then a buyer for your deal. Ideally, you should be finding motivated buyers from day one, so you are ready when you find a seller. Buyers are easier to find as you can see at https://davedinkel.com/products/

Prevention only comes about by thinking a Black Hat wholesaler will be coming after your deal. First, educate the seller that an unscrupulous investor may come by and illegally offer more money, have the seller sign your “Notice to Homeowner,” stating that he understands he cannot accept another offer.

There is nothing illegal about changing their mind, it is called seller remorse and occurs about 25% of the time. However, if they have signed your contract, it can’t be cancelled for any reason unless acceptable to the investor/buyer.

If price is an objection, you need to find out how important it is to sell fast and for cash. If the seller isn’t under a time constraint, has a money issue, or has a personal dilemma, he may not agree to the price you need. Offer to help move and build it into your price before you make your offer. However, never give the seller money; only pay the moving company, and only after closing (escrow with a closing agent). If fear is the seller’s issue, break it down into what the real problem is and answer their objections one at a time.

You can get to the root of motivation for a seller by asking a few questions. First, “Why are you selling?”, “How soon can you close?”, and Are you ready to sign an AGREEMENT today, if not, what do I have to do to make you comfortable?’. The answers to these questions will determine the truth about your seller’s motivations.

The best times to involve your attorney in your deals are to have him review your contracting, review the signed contracts from the seller and end buyer, have him open escrow and start the title work, negotiate with city or counties for lien reductions or mortgage payoffs with lenders, and to close the transactions.” Your attorney is not the adversary; it’s the opposing party’s attorney who is a deal killer, and having your attorney allows him to help overcome this obstacle.

The key to successful prospecting and bringing back deals that didn’t close is to follow up until the property is transferred in the public record. Some of our deals have been where the seller came back to us months and years later because they felt comfortable with us and not the other “pushy” investors who contacted them.

Your contract’s most important clauses are inspection period (as long as possible), when the EMD must be deposited if at all, your ability to access the property, any added clauses specific to the property that will protect you against seller claims later that were verbal only.

Visit davedinkel.com for full privacy policy, terms of use, etc.  Be sure to contact us through the website at davedinkel.com if you have questions or concerns ([email protected]).  Results mentioned in this presentation and any video, article, and/or material related to Dave Dinkel and his associated businesses are not typical nor are a guarantee of any earning potential.  No advice is to be construed as legal, accounting, or professional advice EVER.  Please consult related licensed and qualified professionals before taking any action.  No person(s) mentioned in the articles and /or shown on videos received compensation in any form for their opinions.