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Your 3 Step Deal Flow Generator

Article Summary: Real Estate Investing is like fishing in some ways. You have to learn how to find the Big Ones without working too hard.

Real Estate Investing is like fishing in some ways. You have to learn how to find the Big Ones without working too hard.

I have been a fly fisherman for years and even dabble in tying my own flies.

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.

The biggest fish don't spend that much energy. They like to be served their dinner in a more quiet fashion.

Put on your sunglasses and you can see the big ones finning slowly behind each of the bigger rocks.

They rest in the still water behind the stumps and rocks and wait for bugs to float by. Then they just need to turn their head and open their mouths for lunch and settle back into their resting place.

The secret to being a Real Estate Big Fish is to set yourself up so that the Flow brings profitable projects right to your desk.

The term most experienced investors will use for this is Deal Flow. It's when properties come your way every day in a continuous stream.

Just like the big trout, you grab them as they flow across your desk and keep only the big juicy ones. You can set this up so that it happens automatically in just 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?

- How much property do you want to take under control?

- What dollar value and how many projects will you take on?

- How much do you want your Net Worth to grow?

With clear answers to these questions ... I mean real clarity on these goals ... you are ready for the next step.

Step 2) Constructing Your Network

Shout it out. Tell your goals to EVERYONE you know. Especially people who have a business reason to help you.

It is only by telling more people what you are doing that you can expect to see more deals come your way. What is cool is that people love to help. I will even guarantee you ...

If you don't have Deal Flow right now, it is simply because the number of people who know what you are looking for is too small.

The Bigger Your Network, the Better Time for High Gear

Make an actual plan to build your network with the kind of contacts you know will get you to your goals.

Make a list of your current network and choose

- several Real Estate Agents/Brokers

- A couple of Title & Escrow Companies

- A brace of Real Estate Lawyers

- A Mortgage Broker or two

- Some Accountants and book keepers

- Some Appraisers

- A Property Manager or Two

- Bankers

- 1031 Intermediaries and any more you can think of

Everyone you know and everyone in your target market who would profit from helping you on a project - and TELL THEM ALL what you are looking for in this next year.

Leave them your business card and make sure you keep in contact every several months to stay in touch.

Here is a way to go even faster

Step 3) Pay it Forward to Kick Start the Flow

Once your Network is built you have to feed it by making it a two-way system. As in the recent movie "Pay it Forward" - put your energy into the network to kick start the Deal Flow.

The Real Secret? You have to give before you get. Help others reach their goals and they will do the same for you.

Every chance you get ask your Network members for their goals and then help them get there whenever you get the chance.

Let's say you are looking for a retail strip and a member of your Network is hunting for office space ... and then you run across a smokin' office deal ... tell them. What will happen is that same person will turn you on to a perfect retail deal soon enough.

It just takes these three steps - diligently and persistently applied - to reach your goals.

1) Clarity on Your Goals

3) Grow Your Network and Feed it Well

3) Help Network Members Whenever You Can

Remember the big trout at the bottom of the stream. The current brought the food right to them. Your Network will do the exact same thing. Your Network is your current.

Practice the three steps every day with patience and persistence and in a few months you will see Deal Flow that can last as long as you want.

Then you can sit back like the Big Fish in the stream - watching the deals flow by - and reach out and grab only the really profitable ones to acquire.

Article Source: http://www.upublish.info

About the Author:
Dike Drummond MD
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