The Power Of Deadlines…

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So for the past few days, I have been pretty busy doing things in Real Estate the one mistake…or I am not sure if I would call it a mistake…that I made was not being prepared! Which is why I want to talk about the power of deadlines…

 

The Webinar Presentation

So yesterday I had to do a webinar presentation, funny thing was I learned last minute that  did not have a slide presentation to go over. So quickly within the span of literally 30 minutes. I made a presentation slide that was awesome!

If you want to see the webinar presentation, click here!

It turned out well and astonishingly I think that was one of the best presentations and slides I ever made!

 

The Workout Deadline…

This morning, at about 6:00 AM, I went to the gym with my fiance and she told me we had to be back home at 7pm on the date. Now I will be honest with you…we really showed up at about 6:20AM, which meant I had to complete a workout in about 40 mins…(plenty of time for me)

What resulted was….I actually had a better workout in that 30-40 mins doing as much as I could then I did if I were to workout for 1 hour or two…

 

What I learned…

In the book 4 Hour Work Week by Tim Ferris…he actually goes over this concept that when people are faced with deadlines…they drop all the dead weight and not needed things that go into a project and get more done quicker…

 

An Example..

A good example would be…say your in college and have a project do next month…most people won’t do anything for the first 25 days…but when the project hasn’t been completed and they look up and its due in a few days…all of a sudden its as if those 25 days did not matter,

Because now the student got the work done within 5 days or less and the project is just as good.

 

Conclusion..

I know this was a long post, but it makes me think that in the end…deadlines are not as bad as people may think them to be. Deadlines help us set goals and when things need to be accomplished as well as the speed of which it needs to be accomplished.

 

 

Biggest Regret of 2016 so far..

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So…my biggest regrets of 2016 are…

  • Not setting my goals high enough
  • Not believing in myself more…

 

See…at the beginning of the year. I had set out to make at least 50k with my real estate investing business in the year of 2016…although I have since surpassed that number, I look back now and think to myself…

 

Why didn’t I go for a more exciting goal?

 

Or believe in myself enough to push harder? When I think of it now I could have put 100k on the board and easily surpassed that number many times over…did I have the ability to do it…? Yes…did I believe I could do it…? No…

 

Lessons Learned:

What I learned was invaluable and as I look at the board as I write this post, I can only refer back to the book “Think and Grow Rich” to a quote from a poem in that book that states..

 

Life will give whatever you ask of it.

 

And its true…whatever the mind of man conceives and makes itself believe, it will achieve. I probably¬†butchered that, but its true. What you think most of the time will come to pass.

 

My new goals:

Since then I have set a number for myself higher than 50k and I am currently working on achieving that goal by hashing out a step by step game plan that will get me there. Along with some other self development goals…

 

Conclusion:

  • Set your goals and then multiply that number times 10
  • Work on self development! Belief in one self is CRITICAL
  • Always be reviewing your goals and making sure your on track

 

New Video Series Alert!

Starting today I will be making a video series here in the Dallas-Ft Worth area on the following topics:

  • Things To Do In Dallas
  • Places to go see in Dallas
  • Places to go eat in Dallas

I think it will provide a ton of value and content for anyone looking to go out and explore Dallas for what it is! I have lived in Dallas for almost 8 years now and to be honest I am just now getting out in the city and discovering it for the beauty it is!

Please stay tuned and be on the look out!

Thank You!

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I just wanted to personally Thank everyone who is out there sharing my content and supporting what I am doing with my brand! It has been a great journey so far and its amazing how many people I have met and how many folks have reached out to me as of late!

If anything this what I am doing with this blog and podcast has allowed me to reach more people and connect in ways I never thought possible! So I just wanted to say thanks again!

Keep an eye out for the upcoming content to come! I will be sharing some good lessons and things that have worked for me!

A Lesson in Persistance

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What you see here in this picture is my second rehab project that I closed on last week! So many lessons learned here, because this deal took about 6 months to close. This deal was all about follow up, staying in touch and building a strong rapport!

I received this call way back off of one of my marketing pieces the owners weren’t quite ready to sell yet, but through weekly follow up and building a trust and rapport over the phone. I made sure they knew I was the guy to come to when they were ready to sell!

I got excited about this project, because it is in a quite neighborhood PERFECT for first time home buyers and I cannot wait till we fix it up and turn around to sell it!

 

Lessons Learned Here:

  • Always be consistent in your marketing
  • Always be following up with ALL leads (closed and un-closed deals)
  • Do not give up if something does not go your way!

 

Property tour for Fix and Flip #2

 

Preview of what my new fix and flip project currently looks like now. I went to the property yesterday with my fiance to take a look at it and words cannot express how excited I am to get this project started!

The cool thing about this project is…all it really needs is flooring, paint and possibly a new fence. Either way this property barely needs any work and on top of that when all is said and done. I will be the official listing agent on the deal!

Excited to post what it looks like during construction and after! Stay tuned!

Surrounding Yourself With Like Minded People

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One of the main success factors for success, is often the network they are associated with! Here in Dallas, I have a group meet up every 2-3 months or so, where we get together and focus on Real Estate

We cover various topics such as:

  • Strategy
  • Lead Gen
  • Tactics
  • Mindset
  • Sales
  • Real Estate (duh)

And a variety of more things! The point being is…we sit down together as a group and talk about how we can push each other to move forward in life! This is so beneficial…because every single time I go to these group meetings. I always end up closing more deals and doing more business!

When your linked up with like minded people for periods of time, all of the minds in the room tend to link up and create a sort of “master mind” all for the purpose of achieving greatness and success!

So…if you aren’t involved in a group like this, put one together and watch your income grow!

Reasons why small businesses fail…

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So…I listen to a ton of Grant Cardone, if you don’t know who Uncle G is….then you have been missing out on some of the greatest information that’s available on the internet right now! On a few of his podcast, Grant will always mention that some of the reasons or probably the number one reason why businesses fail is because…

 

NOBODY KNOWS ABOUT THEM

 

Very interesting statement, because I do remember that after I closed my first deal in Real Estate, I went through a 8 month period where I had no leads or no deals. My mentor at the time told me that after I closed my first deal I was to take MASSIVE action.

 

I did the exact opposite and took the most bare minimum that I could do! In turn what ended up happening was…I was dry for those 8 months, had no good deals or leads and I almost quit the business!

 

What did I do?

As a result what I ended up doing was dropping some money on marketing and I aggressively got myself out there with the determination to get more deals and realize a profit…

As a result calls started pouring in and I started to get business again!

 

What did I learn?

I learned that I was being a bitch and that I needed to stop complaining and just do what I knew best which was to hustle…and to be honest its not that hard…marketing and getting in front of people will be the blood line of your business!

Without fresh leads or potential prospects you are SOL and might as well quit!

 

Conclusion:

ALWAYS BE MARKETING!

 

An Easy Way To Build Credit

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I get asked the following questions quite often and it often shocks me:

 

Prince…is my credit important?

Prince is cash still king?

Prince, do I really need credit?

And my answer always remains the same and it does not matter if your trying to buy a home or just trying to build just because. Credit in today’s day and age is VERY if not the MOST important asset you can have. Having great credit allows you to do the following:

  • Buy a car
  • Finance a loan
  • Get insurance…(in some cases)
  • Buy a home
  • Do anything in America…lol

Although it IS great to have a reserve of cash in the bank, that however is not as appealing to the banks or someone who is looking at you to lend on as much as a number that says you can make payments over time….

Which leads me to say…what is the definition of credit..? In terms simplified it means…

Having the ability to make payments over time

 

How Do I build credit though…?

If you can’t get qualified for a traditional credit card, the easiest way to get one is to apply for a secured credit card, a secured credit card acts as a real credit card and uses the money you put down as collateral (just in case you don’t pay the loan).

The minimum required is usually $300, so in this post we are going to use that number on getting your credit jump started, so as a rule of thumb…

 

YOUR MAX IS GOING TO BE 1/3 OF YOUR TOTAL BALANCE!

 

Working the system…

 

Remember that rule above! It is going to be very important going forward in the process! So taking our number of $300 from the above example…that means our new max is going to be roughly about $100…yes it can be more, depending on how much money you put up.

So with $100 being the max you can spend, you will want to make sure you NEVER go over that amount, unless you put more money up.

 

Making payments properly…

Have you ever heard someone say to only use the CC on groceries and gas, then at the end of the month pay it all off at one time? While I am sure that person had good intentions for you when they said that…this however is not how you want to make payments…

 

The correct way to make payments on your CC is to take that $100 max that we talked about and slowly pay it down…meaning:

 

$10 here, $20 there, next month you may want to go to $40, then the next month $10

 

Making payments in that manner, shows the bank or the lender that you have the ability to make payments over time! This is important and this will boost your credit rating faster then spending the $100 and paying it all off.

 

Conclusion and Summary of post:

  • Take your total credit card amount and divide by 3 (this is your new max)
  • Pay off your new max in increments only
  • Start by getting a secured credit card

 

Fix and Flip Dallas: 1

This post is very meaningful to me, because this was my first fix and flip project I have ever done and it was quite the adventure. This was one of the greatest experiences in my investing career and I couldn’t be more thankful!

Below I will show you the before video and the walk through of my team and I going through the property before we did any work on it.

Before Photos:

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The Situation:

So this was a seller that had call me off of one of my marketing channels. This guy was in the following situations:

  • Divorce
  • Foreclosure
  • Trying to save his credit

This guy was so motivated that as a matter of fact, the minute he called me. He had told me he was already moved out of the house and moved into a new apartment. He told me the house was mind and that was that!

 

How I bought the deal:

This was a really unique situation, because the sellers bank was Wells Fargo. What my team and I did was called up the bank and worked out a deal where we could take over the payments and just switch the names on the property!

The bank happily accepted and within 2 weeks we closed on this house. It was a great deal for everyone because of the following things:

  • The seller got out of a sticky situation
  • The bank now has continued payments
  • We got the deal!

 

So below is the after video of what the property looked like after we fixed it up!

 

After Photos:

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What was cool about this property is…it didn’t need that much work and the rehab only took about 1 week to complete.

 

In Conclusion…

I learned so much about this deal, not only was it my first fix and flip project. But it enabled me to look back and see how far I truly had come from starting out wholesaling a bunch of properties to now.

Not only was I able to buy a home at a great discount and make money off of it. But I also achieved the following:

  • Made more connections
  • Learned a new way of doing business
  • Saved a home owner from foreclosure
  • Saved the bank a problem, by taking over the payments!

All in all, this was a very good experience for me!