In 2009, I decided to escape the harsh Illinois winter and moved into a hotel in Tampa, Florida, for 3 1/2 months.
What I anticipated would be an enjoyable retreat from the cold turned into a much quieter experience than expected.
I quickly found myself with plenty of free time on my hands and a burgeoning curiosity about the hotel industry.
The hotel’s owner, a kind and approachable man, became my impromptu mentor.
We spent countless hours at the front desk discussing the ins and outs of running a hotel, especially during a recession.
The economy was in free fall, and the insights I gained during these conversations were invaluable.
The owner had purchased the hotel at the peak of the market in 2004.
His purchase price was based on an optimistic projection of 90% occupancy at $200 per night.
Fast forward to 2009, and the reality was starkly different: occupancy had plummeted to 30%, and room rates had dropped to $70 per night.
The financial impact was devastating.
It...
Want to elevate your financial status to an entirely new level?
There’s just one crucial element you need to grasp and master: your personal creativity in transforming liabilities into assets.
No, this isn’t about cash-flowing a house or any typical investment strategies.
It’s about a revolutionary mindset shift that can set you free forever once you understand and apply it.
The Power of Creativity
The key to financial freedom lies in how you perceive and utilize what you already have.
Most people view liabilities as burdens, but what if you could flip that narrative?
What if you could turn those liabilities into assets?
Imagine the possibilities when you start to see every liability as a potential asset.
This shift in thinking can open up a world of financial opportunities.
"THERE IS NO WAY POSSIBLE YOU CAN WATCH THE TRAINING AND NOT HAVE YOUR WHOLE WAY OF THINKING CHANGED."
That’s a bold statement, but it’s true. The concepts I shared have the...
You've done everything right.
You’ve invested heavily in marketing to generate leads, paid for the best skip tracing and data, employed virtual assistants to aid with lead generation, and meticulously sorted through your leads.
Yet, despite all this effort, your offers aren’t being accepted.
It’s frustrating, to say the least.
It's Not Your Leads - It's the Market
First things first: understand that the issue isn’t with your leads.
You’re in a highly competitive market.
If you’re not excelling in negotiation and sales, you’re going to struggle.
Here’s why.
The Importance of Knowing Your Seller’s Personality
One critical mistake many make is treating every seller the same.
Within the first few seconds of interaction, you need to identify the personality type of the seller.
This is crucial because speaking to a High D (Dominant) personality like you would a High I (Influential) or a High I like a High C (Conscientious) can be...
In the dynamic world of real estate wholesaling, embracing virtual strategies has become more than just an option—it's a necessity.
As technology continues to evolve, so do the opportunities for those willing to adapt.
Going completely virtual in your wholesaling business opens doors to a myriad of advantages, but it also presents its fair share of challenges.
I've listed down the essential skills you need to excel in the virtual wholesaling game.
Welcome to THE DEAL LAB, where we delve into the intricacies of real estate wholesaling to empower you with the knowledge and tools for success.
Some topics we have covered in the past is:
Tech Mastery: Embrace technology like your new best friend. From virtual tours to digital marketing, proficiency in tech tools is non-negotiable in virtual wholesaling.
Digital Marketing Savvy: Learn to navigate the digital landscape with finesse. Whether it's SEO, social media advertising, or email campaigns, your ability to reach...
In the loud landscape of real estate investing, 2023 proved to be a challenging year for many cash buyers.
Investors faced a ton of obstacles, from buyers stopping purchases of wholesale deals to a surge in contract cancellations.
Sellers, seemingly out of touch with market realities, were reluctant to accept offers, leaving cash buyers reeling with diminished profits and dwindling opportunities.
However, amidst these struggles lies a golden opportunity to transform setbacks into strengths and come out stronger in 2024.
For many investors, the root of these challenges stemmed from outdated strategies and formulaic approaches.
Offering low-ball deals based on conventional formulas like ARV (After Repair Value) multiplied by a fixed percentage minus repairs and wholesale fees, proved ineffective in the evolving market dynamics of 2023.
The key realization here is that the problem wasn't the sellers or the market—it was the offers themselves.
The solution?
Embrace innovation and...
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