In real estate there are certain continuous actions that have to be running in your business at all times. There’s three major activities which we must pay attention to that are categorized into our A, B, and C’s.
A) Income Generating Activities (Daily)
B) Setting Up Income Generating Activities (Weekly)
C) Taking Care of the Income You’ve Already Earned From the Other Activities (Monthly)
You MUST block out time in order to successfully run your business and fulfill the above activities.
I often have people asking me what is the difference between those students who are successful and those who fail?
In the real estate business you have your buyers, your sellers, and you have your money. And at all times, the above activities need to be focused on one of these 3 – buyers, sellers, or bringing in more money.
It’s like cogs in a watch that are constantly turning. We want to keep the watch on time, we want to keep it accurate, and we want to keep it moving forward.
Business runs in three cycles, the buyers, the sellers, and the money running at all the same time. However, at the beginning you have to choose one emphasis that you’re going to focus your time and energy on and that will make all the difference. If you’re going to focus on sellers, it really comes down to what are the marketing activities you’re going to do in order to find deals.
It goes back to the age-old saying, when it comes to doing deals or working deals, if you are out there and find a good deal, you’ll find the money to do the deal and you’ll find the buyers to do the deals.
I always believe if you’re pulling foreclosure lists, going out door-knocking and sending a direct mail letter – at Tax Auction Investors we often like to use a yellow letter or a postcard in order to do that – then I can guarantee you’re going to have phone calls and you’re going to be able to start working on this business, and leading yourself up to where you want to go.
Thanks again for reading and being a part of the TAI Community!
– Dutch Mendenhall