Episode 340

Get the Property and Then Find The Money... NOPE!

Everyone in Real Estate Investing has heard "Get the property under contract and the money will follow."

Jack goes on a bit of rant and suggests you must do one other thing outside of finding that property to make it work out.

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"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Transcript
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Welcome to the REI Mastermind Network, where host Jack has gathers amazing stories from leaders in real estate investing.

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In each episode, our guests will tell you what they're doing that works what they've tried that failed, and best of all, you'll learn actionable steps to take your real estate investing.

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To the next level now, here's Jack with another value packed episode.

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Hello everyone!

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It’s Jack with another Tip Tuesday. So, head over to reimastermind.net for any corresponding links from this episode.

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Well, how many times have you heard the statement?

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Get the property under contract and the money will follow or something in that vein?

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Well, I'm going to go on a bit.

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Of rant here, and the fact that I really think that's some bad advice, and I see this being said on Twitter and Facebook and from real estate investing gurus all the time.

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And and I really have to advise.

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Is that it is important to establish your network and it is to find that first property what's going to happen is that you're.

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Going to push and struggle and and try to get that first property under contract and that first property is always going to be the hardest.

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There's no question about that, but when you do finally strike.

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And you finally get that property under contract.

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There is now a Herculean task of finding a partner finding the money, or somehow wholesaling it to another investor.

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You need to establish that network.

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As vigorously as you are hunting for that property.

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So, my task to you this week is to get out there, join your local real estate investing group, get on Twitter Facebook wherever the other investors might be BiggerPockets join me on.

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On my Twitter network @rei_mastermind.

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There's quite a few people that are active out there right now.

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You need to establish that network so that when you are ready and you do have a property to sell or partner on, you don't reek of desperation, because as soon as you soon as you have that desperation, 'cause as soon as you have that.

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Smell of desperation.

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It becomes even harder for you to find that exit.

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Well, I know it's a short rant, but that that's where I'm at.

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And again, head over to REI mastermind net.

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For my past episodes, I've had some amazing guests with some actionable items.

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You definitely got to check out, so we'll see you next time.

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Have you learned at least one actionable step to incorporate into your real estate investing?

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You can find links to all of our social media accounts in the show notes.

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See you next time.