Wrapping Up: Your Journey to Becoming a Deal Maker
Guess what? We are almost done. I am proud of you for sticking with this until the end. This was a lot of info to wade through, but you stayed focused. Step one is complete. The next step is putting it all into action. Before you start, I want to leave you with some final words of advice. These pieces might not be as technical, but they can really make or break your success.
Revise Your Financial Mindset
Money is often seen as the root of evil, but I disagree. Money is just a tool. It is not the money that is doing dirty deeds; it is the user. Put that on a Post-it note and reread it every morning. Money is not bad, and wanting to build wealth does not make you a bad person. The beauty of building wealth is that it is not just about you. It is about the impact you can have on others.
I know you can do this because I have done it myself. I did not start with a lot. I even needed my wife’s credit score to buy our own house. If I can build a portfolio of 116 properties and support my family and my community, then you can too. When you get to that place of success, help others. The ripple effects of changing your financial narrative can spread further than you can imagine. All you need to do is believe in yourself.
Don’t Stop Your Deal Flow
Deal finding is like a snowball. Once you start implementing these strategies, you will want to focus all your energy on making sure each deal gets through the game. You will want to focus on renovations, renters, and management. This focus is great, but do not stop your deal-finding efforts. It takes time to build a system and then more time for it to build momentum. If you stop that momentum before the snowball is self-sustaining, you will have to start over again from zero.
Think of your deal-finding efforts as a money machine. You input time or money, and it spits out deals. If you spend $3,000 on marketing and it lands you a flip that makes $40,000, you have turned $3,000 into $40,000. If you had a machine that gave you $40 for every $3 you fed it, you would never turn it off. Treat your marketing the same way. Keep your machine going, and it will keep feeding you.
Focus on the Follow-Up
Deal flow requires systems, and the most important part of those systems is the follow-up. There is money in the follow-up. In this book, I have explained many ways to find deals, but you also need to track your leads and conversations. Schedule your follow-up calls days, weeks, or even months in advance. I put following up directly into my calendar so it actually gets done.
Do not expect your follow-ups to work immediately. It may take many conversations over several months to turn a lead into a deal. This is why you must stay persistent and stay focused. You have the tools, the strategies, and the roadmap. Now it is time to get to work. Go out there and start making deals!