I am about to tell you a partial truth about real estate investing; I will tell you something about investing in real estate to give you specific way of looking at your real estate business, but its actually not 100% true. Afterwords, I will tell why it is not really the truth. So, without further dealy, here it is…
Finding deals as a real estate investor is sorting process, not a sales or convincing process.
Why would I say such a thing? It is to help you understand how to think about the part of your business where you are trying to find deals.
Finding deals is all about sorting prospects… having people contact you, or you contacting them and, through a series of questions, finding out if there is a situation you can solve and get paid for.
It is NOT about selling every homeowner on accepting your offer or otherwise doing business with you.
The first time, you talk to a truly motivated seller (and not just someone with a house for sale), you will understand what I mean by it being a sorting process.
Your are just sorting through all the sellers and houses for sale for the ones that have a unique situation that you can solve.
Now, I will share with you what the untruthful part of what I said earlier is… buying houses is a sales process.
It is about selling yourself and your business to the home owner. Why should they do business with you? What solution and value can you bring to their unique sitation or problem?
The difference I am trying to point out is that you are not trying to convince EVERY seller to sell to you. You are merely trying to find motivated sellers by sorting them out from all other sellers and then selling them on you and your solution.
I hope that helps those getting started in real estate investing with a good big picture concept of what you are really doing when you are out there finding deals.
James Orr is a professional real estate investor and marketing expert.
You can subscribe to his real estate e-newsletter and access audio downloads, articles, marketing materials and educational real estate videos at his Real Estate Investing blog.